2021-11-06 20:12, User_1
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Kew Road, Richmond TW9 3EE, UK
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Property type: ?
Bedrooms: ?
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Agents think: £5,500,000 2 agent(s) valuations found
HPI banks think: £NaN
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Fine & Country - Richmond Agent Valuation of this property is £5,500,000
A detached Victorian residence comprising of fourteen self-contained apartments. All apartments are currently tenanted on assured shorthold tenancy agreements bringing in £18,080pcm in total.
The property comprises an extended and converted three storey detached dwelling, constructed around 1890’s with a more recent three storey side annexe extension added in 1992. The building is of traditional construction, having pitched, artificial slate roof coverings at varying levels. The original walls are of 9 inch solid brick construction, fair faced to the external elevation, as are the more recent cavity extensions, which have a brick outer leaf. Windows are of timber construction having a mixture of double hung sash and opening casements, set in timber sub frames and having painted stone cills. Floors are mostly of a suspended timber design which are either carpeted or tiled. There is parking to the rear for multiple vehicles.
There is scope to modernise the apartments and further enhance the yield. The current gross yield is 3.94% based on the listing price of £5,500,000 and the current annual rental income of £216,960.
Creefleet House is located moments from Kew Gardens underground station as well as the local amenities on offer in the Village as well as Kew Retail Park. The Royal Botanic Gardens Kew, home to the world's most diverse collection of living plants is within walking distance. Richmond town centre offers a larger selection of retail outlets, restaurants and bars as well as Richmond Park, the largest of London’s Royal Parks. Richmond Station (Mainline & District Line) provides superb links into the City
Featherstone Leigh - Kew Agent Valuation of this property is £5,500,000
**A Fabulous Investment Opportunity to purchase this Freehold Residential Corner Plot opposite the Royal Botanical Gardens**
Constructed around the 1890's with a three story side extension which was added in 1992, the building has been converted to provide fourteen self-contained flats within a circa 6515 ft 2 gi building, each having its own parking space.
The flats are all currently tenanted on assured shorthold tenancies for one year with a two month break clause after six months. The rent is paid monthly in advance and the deposits have been placed in an approved deposit holding scheme. The property is currently yielding £186,180 per annum.
The individual flats mainly use an economy seven electric heating system, apart from three which have new gas central heating. The majority of the flats would benefit from refurbishment in order to maximise rental yield.
Properties of this size and nature are rare in the Kew market place and especially with parking and such close proximity to Kew Village.
There is potential for residential or alternative uses for development subject to all necessary consents.
Predicted Energy Assessment (pea) = E
