98 Priory Park Road

For Sale £1,650,000

8 bedroom Terraced

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 Mid Terrace House Internally Arranged to Provide Eight Self-Contained Studio Flats
We are delighted to offer to the market this mid terrace property set over ground and three upper floors internally arranged to provide eight self-contained studio flats with a total combined GIA of approximately 1,727 sq ft.

The eight self-contained flats are currently let on a nightly basis with an income of £147,825 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 £115,204 per annum. The rent increases each year in line with the RPI. No break clause.

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

EPC Rating C

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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