Paul
Wheeler for an immediate response to any
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PLEASE NOTE:
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MARKET COMPARABLES AND ESTIMATED VALUATIONS ARE ONLY
APPROXIMATIONS AND ARE NOT GUARANTEES
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UPDATED AS STOCK COMES IN
NEW AND
LATEST PROPERTY DEALS
Jan 2010
CASH INVESTORS: A PRIVATE LIST IS AVAILABLE IF
WE CAN ESTABLISH YOUR PROOF OF FUNDING.
St Mary’s Lane,
Upminster, Essex
We are instructed to sell the above at a price of £275,000
for the freehold interest with vacant possession of the
first and second floors but subject to a tenancy without
lease on the ground floor @ £10, 000 per annum payable
quarterly in advance.
The first and second floors have planning consent to convert
to 2 x 1 bed flats and the ground floor shop is mused as
Fancy
Dress Hire.
Estimates have been received for £40, 000 - £50, 000 for the
conversion.
Our comments upon the comparisons are as follows:
No 1. Above a shop in Corbets Tey Road in a very central
position within walking distance of the station. This flat
has a gross
internal floor area of approximately 56m2 and has 2 beds.
This equates to £3214 m2 based upon gross internal floor
area.
No 2. Above a shop in Corbets Tey Road on the corner of
Stewart Avenue/Corbets Tey Road within a greater walking
distance
of the station. This flat has a gross internal floor area of
approximately 59m2 and has 2 beds. This equates to £3050 m2
based upon gross internal floor area.
No 3. Above a shop in Corbets Tey Road in a very central
position within walking distance of the station. This flat
has a gross
internal floor area of approximately 56m2 and has 2 beds.
This equates to £3214 m2 based upon gross internal floor
area.
No 4. Above a shop in Moor Lane, Cranham approximately 1.5
miles from Upminster centre and station. This flat has a
gross
internal floor area of approximately 51m2 and has 1 bed.
This equates to £2705 m2 based upon gross internal floor
area. Cranham is a much lower priced area than Upminster and
this property suffers from its distance away from Upminster
Station.
The two flats at 187 St Mary’s Lane has the following gross
internal floor areas:
First Floor Flat – 41.4 m2
Second Floor Flat – 42 m2
Looking at the comparisons and taking into account that
smaller area flats have higher rates per m2 than larger
flats I feel that £3200 m2 based upon gross internal floor
are is realistic and gives values as follows:
First Floor – 41.4 @ £3,200 = £132,480 say £132,500
Second Floor – 42 @ £3,200 = £134,400 say £134,500
In addition we understand that each flat will have a parking
space which in Upminster is at a premium and £5000 to
£10,000
per flat could be added.
We have used the Rightmove web site and searched for the
last 5 years and the cheapest flat that we can find within 1
mile of Upminster was at a price of £99,995 in Willow
Parade, Cranham above a fish and chip shop in December 2007.
Paragon Road, Hackney
2 houses producing £125,000 pa
Property number 1
Ground Floor:
Rm1 145pw
Rm2 150pw
First Floor:
Rm3 160pw
Rm4 160pw
Second Floor:
Rm5 150pw
Rm6 160pw
Rm7 150pw
Rm8 145pw
Property Number 2
Ground Floor:
Rm1 130pw
Rm2 130pw
First Floor:
Rm3 160pw
Rm4 160pw
Second Floor:
Rm5 150pw
Rm6 160pw
Rm7 150pw
Rm8 145pw
The properties are finished to a very high standard and are
rented on a bills included basis.
The tenants are all private and vetted (no DSS).
The price is £1.3m.
The properties are bought as seen, with all fixtures and
fittings included.
CRANMER COURT, WHITEHEADS GROVE,
LONDON, SW3
An excellent opportunity to acquire this un¬modernised
bright triple aspect apartment, with a GIA of approximately
1538 sq ft, arranged on the Sixth Floor of this substantial
well run portered block. There is the added advantage of off
street parking on a first come first served basis. The
apartment is currently laid out as a 4 bedroom flat, but the
current owner has considered reconfiguring it as a 3 bed, 3
bath apartment.
Cranmer Court is situated just off Sloane Avenue, and is a
short walk to the excellent local " village " shops of
Chelsea Green, and is equi¬distant to the many excellent
shops, bars and restaurants of the Kings Road and Old
Brompton Road and London Transport Underground Stations of
Sloane Square and South Kensington.
Terms
SERVICE CHARGE: £ 5,000 per annum
TENURE: SHARE OF FREEHOLD
PRICE: £ 2.325 Million, Subject to Contract
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66 Warwick
Road SW5
Please find attached drawings of the
12 Flats at 66 Warwick Road, Earls Court, London
SW5.
There is no planning but indemnity is there so
secure.
With freehold looking at £2.2 million.
There were 16 flats there but they were too small,
they have been converted
into 12 Flats. 2 Flats are rented. PDF/ZIP
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ROB
MOBILE 07968760564
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21 Upper Whistler
Walk, Worlds End, London, SW10 0ER
This is a 3 bed apartment in Chelsea.
There isn’t a 3 bed flat on Rightmove below £600k
See attached the valuation.
Valued in December at £600k, can be
bought for £550k now. This comes with agreed rent by
Omega housing for £3,500 pcm for the next 3 years.
This gives a yield of nearly 8%.
3% fees to be paid by the buyer.
This will go within 24 hrs, so first
to call will probably get it.
PDF/ZIP
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ROB
MOBILE 07968760564
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Concept House,
Sheffield
File attached.
Investment Summary
• Prominent
location fronting St Mary's Gate.
• Modern office
building extending to
61,679 sq ft
(5,730.13 sq m).
• Flexible floor
plates suitable for a wide range of tenants.
• The building
benefits from 127 car parking spaces providing an
excellent ratio of
1:486 sq ft.
• Secured to the
First Secretary
of State under a lease expiring
03/11/2025. Tenant break April 2021.
• Passing rent of
£925,000
per annum, fixed increases in 2010, 2015 & 2020.
• Low base rent of
£13.06 per sq
ft.
• Offers sought in
excess of
£11,665,000 (Eleven Million Six Hundred and Sixty
Five Thousand Pounds) net of purchasers
costs of 5.725%
Something Diffferent.
ROB
MOBILE 07968760564
King
Street, Thetford
File attached below.
·
Subject to contract and exclusive of VAT
·
On behalf of
clients, we are pleased to attach details of the
above freehold investment opportunity, and would
bring your attention to the following key
characteristics:-
·
Thetford the ancient capital of East Anglia is an
historic market town laying claim to one of the
oldest mayoralties in England.
·
The property occupies an excellent retailing
position on the 100% prime pedestrianised section of
King Street. National retailers represented here
include; Boots, WH Smith, Superdrug, Peacocks,
Lloyds Pharmacy, Clinton Cards and Boots Opticians.
·
Attractive two storey property comprising two retail
units, providing approximately 430.15 sq m (4,630 sq
ft) of modern well configured accommodation, with
sales space provided on the ground floor level and
ancillary accommodation on the first floor.
·
Freehold.
·
Fully let to two tenants; New Look Retailers Limited
(Dun & Bradstreet rated 5A 2), on an original 15
year, effective full repairing and insuring lease,
expiring on 3 November 2014 and Size Up Clothing
Stores Limited, trading as Yours, on an original 15
year, effective full repairing and insuring lease,
expiring on 28 February 2014. The total rental
income is £80,000 per annum exclusive.
·
Offers are sought in excess of
£945,000 (Nine
Hundred and Forty Five Thousand Pounds),
subject to contract and exclusive of VAT, for our
client’s freehold interest in this property. An
acquisition at this level would reflect an
attractive net initial yield of
8.00%,
after allowing for purchaser’s costs of 5.725%.
http://www.propertyin28days.com/PDF/King Street,
Thetford.pdf
18 FLATS HILLSIDE HUB HARLESDEN
The Stonebridge Hillside Hub is a mixed-use
community building, designed by Edward Cullinan
Architects. It provides a PCT healthcare centre, a
community
centre, a cafe, a convenience store and mixed-tenure
residential apartments. The Hub is the final piece
in the jigsaw of a 14 year long regeneration of the
Stonebridge Estate in North West London
The portfolio we are being offered comprises 9 x 1
bed flats and 9 x 2 bed
flats
Flats in the area range in value from 1 bed £150,000
- £185,000 and £185,000 - £250,000 for a 2 bed.
There is not much on the market at the
moment in this area.
The flats are on Hillside NW10 (Stonebridge Park)
located in a Regeneration area where everything
around is newly developed. The block in Question
'Hillside Hub' was built in 2008 and is in good
condition. There is a Community Centre and Tesco
Express on the ground floor facing the main street,
one retail unit vacant being marketed for let and a
Primary Care Trust on the west side of the building
over LG, Ground and 1st floor.
The building itself is a modern designed building
with internal parts decorated to an average to low
standard. The flats are in very good condition. All
the flats are decorated to a good standard, have
kitchenettes in good sized living rooms. The 2 bed
flats have one bedroom en suite and the second
bedrooms are doubles.
Please see attached photos.
Rolfe East, a local well established estate agent
has given us the following values he has 1 x 1 bed
flat
on the market for
1 Beds - £180,000
2 Beds - £225,000
This values the portfolio at:
9 x 1 Beds - £180,000 = £1,920,000
9 x 2 Beds - £225,000 = £2,025,000
TOTAL £3,945,000
We would value the properties at:
9 x 1 Bed = £170,000 = £1,530,000
9 x 2 bed = £200,000 = £1,800,000
TOTAL £3,330,000 - STC
We think we can secure this around £2,7m
–
STC
PDF/attachments_2009_11_25(2).zip
ROB
MOBILE 07968760564
ASK PIZZA IN HIGH STREET ORPINGTON, BROMLEY
Files attached.
Location: Orpington High Street, Kent.
Asking price:
£1.3M
Tenure:
Freehold
Specification:
Arranged on one ground floor and one upper floor to
provide a large ground floor restaurant and kitchen
with further seating and customer WCS at first floor
level. There is also small rear yard.
Size:
2907 sq ft ground floor, 1643 sq ft first floor
Rental Income:
£60,000 per annum
Lessee:
Ask Restaurant Ltd with a guarantee from Ask Central
Ltd. Ask Restaurant Ltd reported a turnover of
£168.1M, a pre-tax of £24.516M and a net worth of
88.847M.
Terms of the
lease to Ask Restaurant Ltd: Until 2037
with no breaks.35 years lease from 6th June 2002
with rent reviews schedule every 5 years.
VAT IS APPLICABLE
PDF/attachments_2009_11_25(3).zip
Leeds HMO
File attached.
These are direct from receivers; the
four Branches are from four different banks.
Portfolio 1 is HBOS; they are looking
for £5.5m
Portfolio 2 is Lloyds; they are
looking for £4.5m (the odd one of this portfolio may
be sold by local agents)
Portfolio 3 is Northern Rock; they
are looking for £3.75m
Portfolio 4 is Handelsbanken, they
are looking for £1.5m, they are least likely to
consider an offer
33 SOUTH STREET,
ISLEWORTH, MIDDX TW7
·
Planning permission has been granted for the
redevelopment of the former Kings Arms into 11
luxury apartments
·
Converting the existing building into 4 units (2,378
sq.ft)
·
And the construction of a separate block to provide
7 units (4,659 sq.ft)
-
5 x 1 Bedroom
Apartments
-
1 x 2 Bedroom
Apartment
-
4 x 2 Bedroom Duplex
Apartments
-
1 x 3 Bedroom Duplex
Apartment
·
S.106 contribution £60,000
·
Guide price
£1,000,000
New
Deal in Sheffield
Files attached.
This deal would be attractive to a
cash buyer. With the rental figures, I do not see it
being that attractive to individual investors, due
to the shortfall on the individual lend.
- The vendor has
agreed an Option method for this transaction. So
the gross price of £3,703,000 will be on Land
Registry, they would get a cash back on completion
of £1,221,990, leaving a net price of £2,481,010.
- The yield of
the tenanted apts as a % on the same apts is 7%
gross. There would also be a very good opportunity
to increase the rents as the block is near to the
University; the block is in the City Centre
- This is a
opportunity for someone to build their portfolio,
take advantage of the gross figure being the base
figure for future price increases, whilst taking
advantage of only paying the net figure on
completion.
See below the prices recorded on Land
Registry. I have also attached the original
Availability, they have all valued up there or there
about.
http://www.houseprices.co.uk/bailey-street-sheffield-s1
http://www.propertyin28days.com/PDF/attachments_2009_11_16.zip
ROB
MOBILE 07968760564
32 St James's
Square London SW1
File attached.
This is a cracker of a building in one of the
finest squares in London.
-
Likely to require circa £2000 per sq ft. £15.8m
-
Understood to be generating £400k p.a. rent
currently.
-
Vacant Possession offered.
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Development Opportunities
1/ Kilburn Value,
NW6 - £875,000
Late Victorian former chapel hall for sale with full
planning permission to create B1 accommodation on the ground floor
(front) and the erection of a 3 storey building to the rear to
create 5 self contained flats. Including 111.7 sq.m (B1), 4 x
1-bedroom flats and 1 x 2-bedroom flat. The site is located on the
western side of Kilburn Vale within short walking distance of
Kilburn and West Hampstead where road, rail and retail links are
aplenty.
2/ Mapesbury, NW6
- £375,000
Freehold site for sale on the corner of Christchurch
Avenue and Mowbray Road in the heart of the popular Mapesbury
Conservation Area. The site will be sold ‘Subject to’ full planning
consent being granted for the erection of a contemporary
3-bed/3-bath (1,377 sq.ft) family house with gardens and off street
parking. Estimated GDV IRO £900,000. Rare opportunity not to be
missed.
3/ Clapham, SW4 -
£3m
Impressive Grade II listed period building measuring
approximately 10,000 sq.ft. Offered freehold with vacant
possession and full planning consent for conversion into a luxury
family home with amenity space and off street car parking.
Potential for a multiple unit conversion subject to gaining Local
Authority consents. Prime location overlooking Clapham Common and
with views over Central London to the rear. Situated within
immediate proximity of Clapham Underground Station and Local
amenities.
4/ Isleworth, TW7
- £1m
Freehold site for sale with full planning consent for
11 flats, landscaped amenity space and car-parking. Part new build
(7 flats) and part conversion (4 flats) scheme within close
proximity of West Middx University Hospital and Brunel University.
Incorporating 1,2 and 3 bed flats/maisonettes and over 7000 sq.ft of
net saleable floor-space.
5/ Lambeth, SW8 -
£750k
Freehold public house with substantial potential for
demolition and redevelopment to provide retail at ground floor level
and 8 flats above (over 1st-3rd floors).
The mix would include 4x1-bedroom flats and 4x2-bedroom flats.
Situated in South Lambeth a short distance to Vauxhall mainline and
underground stations along with the Kennington Oval. Excellent
central location with easy access into Central London along with and
Battersea Park.
6/ Islington, N1
- £850k
Freehold property on Downham Road in an established
residential area and within close proximity of local amenities,
shops and public transport facilities. Property to be sold with full
planning consent for conversion and extension to provide 5x1-bed
flats and 1x3-bed flat. The proposed scheme totals
approximately 6,000 sq.ft and includes in addition a substantial
retail unit over basement and ground floors.
7/ Stratford, E15
- £475k
Freehold building with full planning consent for an
internal conversion / refurbishment into 4 self contained 2-bedroom
residential units (totalling 3,000 sq.ft net saleable). Situated off
Romford Rd in the heart of Stratford Village. The amenities
and facilities at Stratford Central are within close proximity.
8/ Catford, SE6 -
£600k+
Planning permission has been granted for the rear
extension and conversion of an existing building to provide 9
residential units and a ground floor A3/A4 commercial unit. This
includes 3 x 1 bedroom & 5 x 2 bedroom self-contained flats and 1 x
1-bedroom dwelling house with associated landscaping along with the
provision of bin and cycles stores. The property is located on
Perry Hill close to its junction with Rutland Walk.
9/ West Drayton,
UB7 - £700k
Planning consent has been granted for redevelopment
to provide 9 x 2 bed flats (including 1 x penthouse) with associated
car-parking. The development lies in the heart of the town centre,
along Bentink Road between two existing residential sites. West
Drayton is close to Heathrow and just minutes from the future
Crossrail station/existing railway station with services to and from
London. Access to the building is from Bentinck Road. There is
also access to the Grand Union Canal for waterbourne access.
10/ Croydon, CR0
- £500k
Planning permission has been granted for the erection
of a two/three storey building with accommodation in the roof-space
to provide a total of 9 self-contained flats. Comprising 3 x 1
bedroom and 6 x 2 bedroom flats with associated parking. The
site can be found on Canterbury Road at its junction with Sutherland
Road and is only a short walk from West Croydon Station. From
there you have great access into London Bridge and Victoria
Stations. Charing Cross is approximately 30 minutes distant.
11/ Braintree,
CM7 - £1m
The site is located on the southwest corner of the
junction of South Street Station Approach. Braintree Town centre is
approximately 50 metres to the west of South Street. The site is
currently used for commercial vehicles, car repairs and sales.
Planning permission has been granted for two new build schemes.
Scheme(1) - 35 residential apartments(16 x 1 bed & 19 x 2
beds) 9 of which (7 x 1 bed & 2 x 2 bed) are shared ownership. This
scheme totals circa 21,715 sq ft. over ground, first, second and
third floors. Scheme (2) - 47 retirement apartments of approx
26,795sq.ft.
12/ Canterbury,
CT2 - £1m
Situated close to the A28 with easy access to Margate
and the Cathedral City of Canterbury this freehold site is for sale
with full planning consent for 14 new build houses & associated
parking (9 x 3 bed & 5 x 2 beds) totalling Circa 13,886sq.ft. A S106
contribution for education of just under £22,000 required
ROB
MOBILE 07968760564
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DEAL 1Clifton
Drive North, Lytham St Annes, Blackpool
pdf download here http://www.propertyin28days.
com/Clifton Drive North, Lytham St Annes, Blackpool.pdf
Clifton Drive North, St Annes, LYTHAM ST ANNES,
Valued 2008 at 315k
Currently marketed at £260k for a QUICK SALE
Todays purchase price £180k more than 30%
discount!!
Entrance
Fabulous original door leads into vestibule with
tiled walls and mosaic flooring, two double opening doors with
etched
glass insets leads into
Communal Hallway
Superb mahogany door leads into ground floor flat
Personal Door
Hallway
Staircase down to basement, radiator, wall mounted
intercom
Lounge 20'10 x 15'10
Stunning room with walk in bay window to front
elevation, magnificent marble fireplace with living flame gas fire,
picture rail, coving, radiator
2nd Reception Room 19'4 x 14'9
Sash bay window to side elevation, original marble
fire surround, cast iron inset, houses open fire, wooden floor,
radiator, picture rail, coving, TV point
Dining Room 14'10 x 13'3
Sash window to rear elevation with window seat
beneath, original dresser cupboards to recesses, marble fire
surround, wood laminate flooring, original tiled
floor beneath, radiator, door to
Kitchen 9'2 x 16'5
Sash window to side elevation, beautiful hand built
kitchen (using wood from house) with wall and base cupboards,
mosaic tiled work surfaces, 1 ½ sink/drainer, 4 ring
gas hob, overhead extractor, eye level gas oven, original tiled
floor, radiator, half glazed door leads to rear
patio, open arch to;
Utility Area
Sash window to side elevation, wall mounted hand
built cupboard, plumbed for washing machine, space for dryer/
upright fridge/freezer, wall mounted central heating
boiler
Bathroom 7'8 x 6'4
Three piece suite; WC, pedestal wash hand basin,
bath. Tastefully tiled walls and floor, radiator, airing cupboard,
wall
mounted extractor
Basement
Bedroom 1 19'3 x 13'9
French doors lead to stone steps and front garden,
built in cupboards to recess, walk in wardrobe, TV point, inset
spotlights, radiator
Bedroom 2 17' x 12'11
Panelled French windows to side elevation, stone
fireplace housing living flame gas fire, radiator & TV point
Glass panelled door leads to inner hallway, storage,
doorway to;
Snug/Bar 23'4 x 7'9
Fully working bar to rear with storage, wood
laminate flooring, wall lights, door to;
Games Room 16'5 x 14'8
UPVC window to rear elevation, wood laminate flooring
ROB
MOBILE 07968760564
DEAL 7
44% BELOW MARKET VALUE,
CREWE, CHESHIRE, CW1
3 Bed Semi-Detached
Central heating,
Double Glazing,
Front and Rear Garden,
Driveway for 2 cars
Excellent condition,
Tenanted at Ł425 per
month
Value Approx- Ł120k -
Ł125k (Vendor had RICS done in January come to Ł128k)
Contract- Ł72k
Possible Gross Cash
Back - Ł18,000.00 (Based on Contract Price being Ł120k
– LTV 75%, Mortgage for Ł90,000)
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£5,000 LOCK OUT CLAUSE / TO BE HELD WITH VENDORS
SOLICITOR IN ESCROW ACCOUNT - THIS WILL TAKE THE
PROPERTY OFF THE MARKET TO PREVENT OTHER BIDDERS
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FOR FURTHER DETAILS PLEASE CONTACT US
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