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Block of flats
Worton Road, Isleworth TW7
£10,500,000
Worton Road, Isleworth TW7
£10,500,000
Our Summary
- Innovation House presents a premium investment opportunity in the heart of Isleworth, near the affluent area of Richmond
- This freehold property comprises 22 high-specification residential flats, with two additional rear plots—one commercial unit and one car park—Potential to build (Subject to planning) another 20-25 flats
- 🚧 Development Potential
- Rear commercial building with planning permission (expected to be granted soon)
- Planning granted under permitted development
- Development Yield: Significant uplift potential through additional flats
- Planning permission for further flats underway
- Generates £494,000 annually from flats with potential for growth
- Planning to build 20-25 additional residential flats (Subject to planning)
- Rear land includes a car park, adding to the development potential
Description
Innovation House presents a unique investment opportunity in Isleworth, near the affluent area of Richmond. The freehold property comprises 22 high-specification residential flats, with two additional rear plots, one commercial unit, and one car park. The property has a current rent roll of £609,000 per annum, including £97,000 from the commercial unit and £18,000 from a telephone mast lease. The flats include a mix of 1-bed, 2-bed, and studio units, with many recently let under guaranteed rent agreements. The property has excellent tenant demand due to its proximity to Richmond, and there is significant development potential, with planning permission granted for an additional 20-25 residential flats. The property is located in a vibrant area with strong transport links, local amenities, and regeneration, making it a highly desirable residential zone. With a total current rent of £609,000 per annum and potential for further development, this is a rare asset with significant upside potential.