28 Bed Apartment For Sale

SUMMARY



* Opportunity to acquire an underlet freehold residential investment comprising 28 studios with Sui Generis use.



LOCATION



* The property is situated on Royal College Street and is approximately a 10-minute walk to Camden Town underground station, offering Northern line services.



DESCRIPTION



* The property is arranged across five storeys and provides 28 studios extending to approximately 10,658 SqFt (NIA).



* The property is currently generating approximately £556,560 per annum.



* Currently, all 28 studios are let on ASTs.



* The ground-floor commercial units have been sold off on long leaseholds.



* The property has an estimated market rental value of approximately £604,800 per annum.



* We have been advised that the current operating costs amount to £57,988.91 per annum.



* The property currently has a use class of Sui Generis.



* The property has been operating as C3 class use for over 13 years.



TERMS



* The property is not elected for VAT.



* The property is available freehold.



* Offers in excess of £7,700,000