Available
High Wycombe – Newly Converted Block of 7 Apartments
2 Bishops Court, Lincoln Road, High Wycombe HP12 3REFreehold Newly Converted Residential Block Investment
Price
OIRO £1,500,000
Rent P.A.
Vacant
Yield
ERV: £115,000 p.a.
Tenure
Freehold
Area
3,588 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- ERV: £115,000 p.a. GIY: 7.67%
- SPV can be purchased to minimise stamp duty
- VAT is NOT applicable to this property
- Potential to increase ERV if used as a serviced accommodation
- Comprises four-storey newly converted residential block of 7 apartments
- Redevelopment works completion expected early September 2024
- Includes 6 x 1-Bed and 1 x 2-Bed units
- Benefits from 11 car parking spaces
- Lincoln's Inn Office Village is an attractive courtyard development of 12 mixed-use buildings with associated parking spaces and nearby occupiers including Subway, Screwfix, Takeaway, Offices and many more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises newly converted four-storey residential block of 7 apartments (6 x 1-Bed & 1 x 2-Bed), with the benefit of 11 allocated car parking spaces (5 at front of the building and 6 in the multi-storey car park 100 yards away), providing the following accommodation and dimensions:
Ground Floor:
Flat 1 - 42.10 sq m (453 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 2 - 48.40 sq m (521 sq ft)
Bedroom, Kitchen/Living Room, Study, Bathroom
First Floor:
Flat 3 - 43.30 sq m (466 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 4 - 44.90 sq m (483 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Second Floor:
Flat 5 - 43.30 sq m (466 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 6 - 44.90 sq m (483 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Third Floor:
Flat 7 - 66.50 sq m (716 sq ft)
2 Bedrooms, Kitchen/Living Room,
Study Area, Bathroom
Total net internal area: 333.40 sq m (3,588 sq ft)
Potential for further value-add:
The 2-Bed apartment on the top floor has potential to be enhanced to 2 studios or a 3 bed HMO subject to obtaining appropriate consent.
Ground Floor:
Flat 1 - 42.10 sq m (453 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 2 - 48.40 sq m (521 sq ft)
Bedroom, Kitchen/Living Room, Study, Bathroom
First Floor:
Flat 3 - 43.30 sq m (466 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 4 - 44.90 sq m (483 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Second Floor:
Flat 5 - 43.30 sq m (466 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Flat 6 - 44.90 sq m (483 sq ft)
Bedroom, Kitchen/Living Room, Bathroom
Third Floor:
Flat 7 - 66.50 sq m (716 sq ft)
2 Bedrooms, Kitchen/Living Room,
Study Area, Bathroom
Total net internal area: 333.40 sq m (3,588 sq ft)
Potential for further value-add:
The 2-Bed apartment on the top floor has potential to be enhanced to 2 studios or a 3 bed HMO subject to obtaining appropriate consent.
Location Description
High Wycombe is strategically located on the M40 motorway 30 miles west of Central London and excellent road communications are available to other principal towns in the Greater Thames Valley region. There are very good train services to London Marylebone with a fastest journey time of approximately 25 minutes. Lincoln's Inn Office Village is an attractive courtyard development of 12 office buildings with very good mature landscaping. Nearby occupiers include Subway, Screwfix, Takeaway, Offices and many more.
