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9 bedroom detached house for sale
St. Leonard's Road, Surbiton, Surrey, KT6
£1,350,000
St. Leonard's Road, Surbiton, Surrey, KT6
£1,350,000
Our Summary
- Several surface car parking spaces alongside 3 x garages are positioned to the rear of the property offering development potential, subject to necessary consents
Description
This is an opportunity to acquire a freehold, income-producing residential investment in a desirable Surbiton riverside location, just 0.4 miles from Surbiton Station with direct access to London Waterloo. The property consists of four self-contained flats, arranged as three 2-bedroom and one 3-bedroom units, totaling 2,809 sq ft NIA. The property is fully let, producing a rent of £65,832 per annum, and has an estimated rental value of £104,700 per annum. The property is being sold at a significant discount to the breakup value, and there is potential to increase the value by refurbishing the units. The property also comes with several surface car parking spaces and three garages, offering development potential, subject to necessary consents. The guide price is £1,350,000, reflecting a reversionary yield of 7.8% and a low capital value of £480 per sq ft based on the NIA.