Available
London IG2 – New-Build Block of 7 Apartments
Trantor Court, 22 & 23 Bush Close, Ilford, London IG2 7NLFreehold New-Build Residential Block Investment with Development Potential
Price
£2,500,000
Rent P.A.
£157,800
Yield
6.31%
Tenure
Freehold
Area
5,048 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- SPV can be purchased to minimise stamp duty
- Comprises new-build residential block of 7 apartments
- Includes 5 car garage at ground floor, with redevelopment potential to be converted into 1 x 2-bedroom apartment
- Built to a high standard including kitchen marble worktops and soft close doors/drawers, aluminium slimline doors & windows throughout, floor and full heigh wall tiled bathrooms, door entry systems, LED downlights and more
- Benefits from 10 year new-build warranty
- Situated within short walk from Newbury Park Station which provides Underground Services (Central Line) towards London Stratford, Bank, Liverpool Street, Oxford Circus and more.
- Occupiers within 5 min walk include Sainsbury`s Superstore, Aldi, McDonalds, B&Q and more.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
Comprises new-build in April 2024 residential block of 7 apartments (2 x 3-Bed, 2 x 2-Bed and 3 x 1-Bed). Ground floor apartments benefit from private gardens, while first and second floor apartments benefit from private terraces. The building includes 5 car garage, providing the following accommodation and dimensions:
Ground Floor
22 Bush Close: 98 sq m (1,055 sq ft)
3 bedrooms, kitchen/living, 1.5 bathrooms, garden
23 Bush Close: 70 sq m (753 sq ft)
3 bedrooms, kitchen/living, 2 bathrooms, garden
First Floor
Flat 1: 60 sq m (646 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Flat 2: 53 sq m (570 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Flat 3: 52 sq m (560 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Second Floor
Flat 4: 67 sq m (721 sq ft)
2 bedrooms, kitchen/living, bathroom, balcony
Flat 5: 69 sq m (743 sq ft)
2 bedrooms, kitchen/living, bathroom, balcony
Total Gross Internal Area: 469 sq m (5,048 sq ft)
Total Residential Outdoor Area: 104 sq m (1,120 sq ft)
Ground Floor
22 Bush Close: 98 sq m (1,055 sq ft)
3 bedrooms, kitchen/living, 1.5 bathrooms, garden
23 Bush Close: 70 sq m (753 sq ft)
3 bedrooms, kitchen/living, 2 bathrooms, garden
First Floor
Flat 1: 60 sq m (646 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Flat 2: 53 sq m (570 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Flat 3: 52 sq m (560 sq ft)
1 bedroom, kitchen/living, bathroom, balcony
Second Floor
Flat 4: 67 sq m (721 sq ft)
2 bedrooms, kitchen/living, bathroom, balcony
Flat 5: 69 sq m (743 sq ft)
2 bedrooms, kitchen/living, bathroom, balcony
Total Gross Internal Area: 469 sq m (5,048 sq ft)
Total Residential Outdoor Area: 104 sq m (1,120 sq ft)
Tenancy Description
22 Bush Close is at present let on AST to an Individual for a term of 3 Years from 10th June 2024 at a current rent of £28,200 p.a. Deposit held of £2,711.
23 Bush Close is at present let on AST to an Individual for a term of 12 Months from 27th March 2024 at a current rent of £28,200 p.a. Deposit held of £2,711.
Flat 1 is at present let on AST to an Individual for a term of 12 Months from
13th April 2024 at a current rent of £18,600 p.a. Deposit held of £1,788.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from
1st March 2024 at a current rent of £19,200 p.a. Deposit held of £1,846.
Flat 3 is at present let on AST to an Individual for a term of 12 Months from
20th April 2024 at a current rent of £18,000 p.a. Deposit held of £1,730.
Flat 4 is at present let on AST to an Individual for a term of 12 Months from
1st June 2024 at a current rent of £22,800 p.a. Deposit held of £2,192.
Flat 5 is at present let on AST to an Individual for a term of 24 Months from
16th May 2024 at a current rent of £22,800 p.a. Deposit held of £2,192.
23 Bush Close is at present let on AST to an Individual for a term of 12 Months from 27th March 2024 at a current rent of £28,200 p.a. Deposit held of £2,711.
Flat 1 is at present let on AST to an Individual for a term of 12 Months from
13th April 2024 at a current rent of £18,600 p.a. Deposit held of £1,788.
Flat 2 is at present let on AST to an Individual for a term of 12 Months from
1st March 2024 at a current rent of £19,200 p.a. Deposit held of £1,846.
Flat 3 is at present let on AST to an Individual for a term of 12 Months from
20th April 2024 at a current rent of £18,000 p.a. Deposit held of £1,730.
Flat 4 is at present let on AST to an Individual for a term of 12 Months from
1st June 2024 at a current rent of £22,800 p.a. Deposit held of £2,192.
Flat 5 is at present let on AST to an Individual for a term of 24 Months from
16th May 2024 at a current rent of £22,800 p.a. Deposit held of £2,192.
Tenancies & Accommodation
Location Description
Newbury Park is an area of Ilford in East London situated in the London Borough of Redbridge east of Gants Hill. The A12 road runs through Newbury Park and a shopping complex lies near the Eastern Avenue / Horns Road junction. The property is located within short walk from Newbury Park Station which provides Underground Services (Central Line) towards London Stratford, Bank, Liverpool Street, Oxford Circus and more. Occupiers within 5 min walk include Sainsbury`s Superstore, Aldi, McDonalds, B&Q and more.
