Evelyn Yard, Fitzrovia, London, W1T £2,595,000 per week$3,729,015 per week€3,317,189 per week
We are delighted to offer this rare opportunity to acquire an attractive building consisting of three apartments; a studio, a one-bedroom apartment and a three-bedroom apartment located off Rathbone Place in the heart of Fitzrovia.
All apartments have modern interiors and a contemporary feel, with wooden floors throughout, modern bathrooms and original sash windows. They are immaculately presented and well laid out and have proven to be very successful on the rental market.
All apartments are let to a company, achieving £104,000 pa, giving potential investors an immediate income on their investment along with security in the yield they will achieve. Having rented the building since 2014, the current tenancy (company) has a contract running until 20/11/2020. The agreement incorporates a rental increase of £2,600 each year of the tenancy. There is also the option to have vacant possession subject to 2 months notice.
The apartments are held on a 995 year lease at a peppercorn rent in a Special Purpose Vehicle (SPV) and are available either through the purchase of the long lease or by way of a sale of 100% of the shares in the SPV.
Evelyn Yard is a short walk from Soho Square and Charlotte Street, close to world renowned shopping on Oxford Street and the vibrant delights of Soho and Covent Garden. With excellent transport links and in area which is a key beneficiary from the Crossrail service, this is an ideal central London investment