LOT 8 · COMMERCIAL PROPERTY
14 Pepper Street
Glengall Bridge, E14 9RP
A Block Of Six Self Contained One Bedroom Apartments Let On A Guaranteed Rent For Five Years At £185,000 Per Annum With 5% Yearly Increase Sold On Three Leases.
Property description
The property comprises a residential building internally arranged to provide six self-contained flats over ground and three upper floors. The block benefits from west facing view and overlooks the waterfront. There is a five year lease commencing February 2024 let to a corporate operator with a break at the end of year three on a yearly rent of £185,000 Per Annum (with a 5% rental increase). Each apartment comes with private parking and a balcony except one. We understand that there is scope to reconfigure flat six from a one bed to two bedroom apartment (subject to obtaining relevant consents)
Location
The property is situated on the waterfront of Millwall Dock and close to Canary Wharf financial district with shops and restaurants nearby. Transport links are provided by Canary Wharf Underground Station (Jubilee Line ) and Crossharbour (DLR).
Exterior
Six Parking Spaces and a Residents Lift
Tenure
Leasehold Each floor is subject to one lease being 200 years less 7 days from July 1986 (Thus 157 Years Remaining)
Run the Numbers
Explore rental returns and monthly repayments for this property.
Your rental returns
- Gross yield
- 7.6%
- Net yield
- 7.6%
- Annual income
- £185,004
Net yield deducts your annual running costs, before tax and finance.
Yields use the purchase price and assume 12 months’ rent. Include maintenance, insurance, management and vacancy allowances in annual costs. Tax, finance and purchase fees are excluded.
Illustrative estimates only, not financial advice or a lending offer. Confirm funding and the completion deadline before bidding.
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