For Sale

Rotherhithe – Residential HMO Portfolio comprising a secure unbroken courtyard situated in the heart of Surrey Quays

1-12 & 14-19 Patina Walk, Rotherhithe, SE16 5HT

Offers in excess of £13,000,000

Property Type:
Residential

Description

  • Unique residential investment opportunity totalling 18 houses in a secure gated courtyard
  • Mix of Freehold and Leasehold
    • 12 x Freehold
    • 6 x Leasehold
  • Excellent location within Rotherhithe and Surrey Quays, surrounded by great amenities and transport links
  • Potential break up opportunity
  • Portfolio comprises 18 residential HMOs comprising 93 rooms with a secure gated cul-de-sac
    • 3 x six beds
    • 15 x five beds
  • Total Current Rent Reserved: £812,424 per annum with one house currently vacant
  • Estimated Rental Value (ERV): £952,200 per annum
  • Excellent tenant occupancy levels (average post-Covid occupancy approximately 98%)
  • Opportunity to convert into single dwelling houses (C3), subject to obtaining necessary consents
  • Net Yield of 5.4% (based upon current passing rent, before purchasers costs)
  • Major re-generation of Canada Water
  • Each house minimum EPC rating of ‘C’

Offers in excess of £13,000,000 are invited for the Freehold and Leashold interests, subject to all existing tenancies, subject to contract.

A purchase at this level would reflect a gross yield of 6.25% (based upon passing rent) and 7.33% (based upon ERV).

Subject to contract