This distinctive complex features a collection of period buildings currently comprising five rental units, all occupied under Assured Shorthold Tenancies. Notably, planning permission has been secured (Ref: Rr/2002/2991/P) to transform four additional spaces into separate units, enhancing the investment potential of this property significantly.
The existing units are generating an annual rental income of £53,340, although this figure is below current market rates, indicating room for rent increases post-renovation. Each unit has been maintained in reasonable condition and benefits from amenities such as gas central heating, dedicated parking solutions, and shared garden spaces.
The layout of the buildings encircles a charming courtyard that provides not only parking but also access to a secondary driveway leading to an expansive area of well-kept lawn. This additional space holds further opportunities for development or enhancement, pending any required permissions.
The unconverted units are particularly appealing as they come with approved plans that could yield three one-bedroom and one two-bedroom apartments. This aspect alone underscores the property’s potential for growth both in terms of its physical footprint and rental income. The current layout includes diverse living arrangements catering to various tenant needs while allowing for potential upgrades to elevate existing rentals.
It's important to note that the property shares its drainage system with Vinehall School and bears a 5% contribution towards maintenance costs.
The detail provided for each unit outlines their current configurations and proposed changes:
- **Units 1 and 2** in Block A offer approximately 55-56 sq.m each with open-plan designs ideal for modern living.
- **Stable Cottage**, **Garden Cottage**, and **Block A Unit 5** are already converted and leased, showcasing successful utilization of space with efficient designs ranging from cozy studios to full two-bedroom homes.
- Additionally, **Block C Unit 3** presents another unconverted opportunity at 51 sq.m., designed for a one-bedroom dwelling complete with en-suite facilities.
- The larger **Park View** unit provides a spacious living environment at 100 sq.m., making it attractive for longer-term tenants.
With the combination of existing tenancy income and substantial renovation opportunities available through permitted development, this property represents an intriguing investment prospect in a desirable location.
