219a Kilburn High Road

For Sale £1,450,000

5 bedroom Flat

Property Description

Online auction date: 24 May 2022. Bidding opens at 11:00am and closes at 12:00noon. By AUCTION PROPERTY LONDON -www.auctionproperty.co.uk Residential investment - 5 self contained studio flats - Income is £68,057 when fully let
We are pleased to offer for sale this investment property which comprises five self-contained studio flats arranged over first and second floors with a total GIA of approximately 1,264 sq ft. The flats have their own rear entrance.

Location
The property is situated on Kilburn High Road close to local shops and amenities. The open space of Kilburn Grange Park is within easy reach. Transport links are provided by Kilburn underground station (Jubilee line) and Kilburn High Road rail station.

Tenancies
The five self-contained flats are currently let on a nightly basis with an income of £68,057.90 per annum (assuming full occupancy each night). There is an option to let the building on a single RPI lease to a housing association for a term of 10 years commencing September 2021 at a rent of £53,039 per annum. The rent increases each year in line with the RPI and there is no break clause.

Leasehold Information
Length of lease: 99 year lease from 29th September 1992 
Service charge and ground rents: see legal pack

Note:  At the buyer's request and costs a section 42 notice to extend the lease will be served prior to completion, the rights of which would be assigned to the incoming buyer.

EPC Rating E

Exchange and administration fee information:  (plus fees)
Buyers Admin Fee Applies Upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyer's Admin Fee of £1200 inc VAT and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges. These may include, but are not limited to, Value Added Tax (VAT), Stamp Duty, ground rents, rent arrears/apportionment of rent, outstanding service charges, sellers search costs/disbursements, reimbursements of sellers solicitors, auctioneer costs, buyer’s premiums or reservation fees.
 
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