21 bed flat

The property is a two-block residential investment with 19 self-contained apartments, consisting of 17 one-bedroom and 2 two-bedroom units, spanning 8,019 square feet. One block, 319 Denman Street, comprises 13 one-bedroom apartments, while the other block, 14 Rifle Street, has 6 one-bedroom apartments built by the vendor. Each flat has its own utilities and electricity meters, simplifying lettings and billing processes.

The property is mostly re-let, with 18 out of 19 apartments occupied, generating a passing rent of £149,400 per annum. At full occupancy, the estimated rental value is £163,740, yielding a gross return of 10.23% and a net return of approximately 10% at the asking price. The total annual communal running costs amount to £5,862.

The property also features a rear yard and a substantial, unused basement, offering potential for value enhancement through storage letting, conversion, or ancillary use, pending necessary consents.