Available
London E1 – Residential Block
300 Stepney Way, Stepney Green, London E1 3DWFreehold Residential Block Investment
Price
£1,280,000
Rent P.A.
£70,500
Yield
5.51%
Tenure
Freehold
Area
3,378 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- Comprises 2 x 3-bedroom ground floor apartments with large rear gardens
- Includes 7 apartments on upper floors, all sold-off on long leaseholds
- The residential block has been newly developed in 2017
- Situated within 12 min walk from Stepney Green Underground Station
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises new-build residential block, consisting of 2 x 3-Bed apartments at ground floor, and additional 7 apartments on upper floors which have been sold-off on long leaseholds expiring 2145.
The property provides the following accommodation and dimensions:
Ground Floor:
Flat 1: 157 sq m (1,689 sq ft)
Gross Internal area: 80 sq m (861 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Garden area: 77 sq m (828 sq ft)
Flat 2: 157 sq m (1,689 sq ft)
Gross Internal area: 80 sq m (861 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Garden area: 77 sq m (828 sq ft)
First-Fourth Floor: 3 x 1-bed and 4 x 2-bed apartments (sold-off)
The property provides the following accommodation and dimensions:
Ground Floor:
Flat 1: 157 sq m (1,689 sq ft)
Gross Internal area: 80 sq m (861 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Garden area: 77 sq m (828 sq ft)
Flat 2: 157 sq m (1,689 sq ft)
Gross Internal area: 80 sq m (861 sq ft)
3 bedrooms, kitchen/living room, 2 bathrooms
Garden area: 77 sq m (828 sq ft)
First-Fourth Floor: 3 x 1-bed and 4 x 2-bed apartments (sold-off)
Tenancy Description
Flat 1 is at present let on AST to an Individual for a term of 12 Months from 1st March 2023 at a current rent of £34,800 p.a.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from 21st May 2023 at a current rent of £33,600 p.a.
Flat 3 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 4 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 5 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 6 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 7 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 8 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 9 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from 21st May 2023 at a current rent of £33,600 p.a.
Flat 3 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 4 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 5 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 6 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 7 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 8 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Flat 9 has been sold-off on long leasehold for a term of 125 Years from 25th March 2020 at a ground rent of £300 p.a. Reversion 2145.
Tenancies & Accommodation
Location Description
The property is located in the heart of Stepney, opposite Stepney Green Park and Farmers Market. Stepney Green Underground Station is 12 min walk, providing direct services to central London. Mile End Road is also within close proximity, which hosts retailers such as Asda, Nandos, German Doner Kebab, The Gym Group and many more.
