Oak Lane, Twickenham TW1 3PA
Offers in excess of £1,500,000
The existing property comprises a detached two-storey residential block of flats extending to approximately 2,836 sq.ft.
Originally built as an office block the property was converted to residential in 2014.
The property occupies a site area of approximately 0.08 acres and benefits from 9 car parking spaces.
The property is located off Oak Lane in Twickenham, within the London Borough of Richmond upon Thames.
Oak Lane is a predominantly residential road with the property located to the rear of the Oak Lane Medical Centre.
The property is located less than a mile to Twickenham Stadium, the home of English Rugby.
The area benefits from excellent transport links being 0.2 miles to Twickenham train station providing national rail services into London Waterloo in 23 minutes.
Tenancies & Development Potential
The flats are fully let on AST agreements as per the below schedule currently producing £84,840 per annum.
The property benefited from planning permission on 29th January 2020 (19/3025/FUL) for the change of use from residential (C3) to serviced apartments (C1) comprising 5 serviced apartments.
The property offers potential for asset management and future rental growth by increasing the current rental terms or changing the use to serviced apartments and renting these out on short term agreements.
The property is to be sold on a freehold basis, subject to the existing tenancies remaining in situ.
The property is not elected for VAT.
Offers are invited in excess of £1,500,000 which reflects a capital value of £528 per sq.ft. and a yield of 5.33%.
Further information including planning documents and technical documents are available in the dataroom using access code ‘Jasmine’.
Disclaimer - Kingsbury on its own behalf and on behalf of the Owner / Landlord of this property whose agent Kingsbury is, gives notice that this document does not constitute any form of contract for sale or lease. Statements should not be relied upon, and interested parties are advised to satisfy themselves as to the correctness of each statement. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268.
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- 5 self-contained apartments (1 x 1 bed, 4 x 2 bed) extending to approximately 2,83 sq.ft. with 9 car parking spaces
- Fully let on AST’s producing £84,840 per annum, offering potential for asset management and future rental growth
- Planning permission for the change of use to serviced apartments
- Sought after residential location within walking distance of Twickenham train station
- Offers are invited in excess of £1,500,000 which reflects a low capital value of £528 per sq.ft. and a net yield of 5.3%
To discuss this opportunity further, please contact Jordan Oldfield or Chris Incledon on 020 7183 2529