166 Worple Road, London

Under Offer
£2,000,000
  • Ref: 1000_RS0682
  • Type: Semi-Detached House
  • Availability: Under Offer
  • Bedrooms: 7
  • Bathrooms: 7
  • Reception Rooms: 7
  • Tenure: Freehold
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Property Summary

Wimbledon ** Freehold Block of 7 Flats ** Potential for Attic Conversion & Garden Development ** £110,000 per annum with Ability to Increase to £132,000 Giving a 6.6% Yield

Full Details

Wimbledon ** Freehold Block of 7 Flats ** Potential for Attic Conversion & Garden Development ** £110,000 per annum with Ability to Increase to £132,000 Giving a 6.6% Yield

Price: POA

The subject property comprises a large period four storey bay front semi detached property, which has been converted into seven self contained flats. The property is understood to have been built towards the late nineteenth century constructed of solid brick elevation beneath a pitched tile covered roof with wooden framed single glazed sash style windows throughout.

Six of the seven flats are accessed via the main communal entrance
with the basement flat accessed via its own separate entrance to the side of the property. The basement flat is the largest flat and benefits from its exclusive access to the rear garden.
The flats are set out as two one bedroom flats on the ground floor, two one bedroom flats on the first and another two one bedroom flats on the second floor.

The owner is understood to have just completed refurbishment works ot the building this has included the replacement of the roof and refurbishment of the common parts and front driveway and the complete modernisation of five of the seven flats.
Two of the flats remain under regulated tenancies and remain in an unmodernised condition.

The attic space is accessed via a stairwell in the common parts and is currently fitted out as a space for storage. While this space does not currently have permission to be converted into an additional flat this is a future opportunity if consent could be obtained.

LOCATION

The subject property is located at the Raynes Park end of Worple Road (B235) in close proximity to the junction with Lower Downs Road on the southern side lying close to central Wimbledon and just south of Wimbledon Village in south west London

The property benefits from good road links lying in close proximity to a number of major road links including the A3 and A24 both of which run north towards Central London and also meet with the
A205 South Circular route. M25 can be accessed via the A3, which in turn provides access to the Greater National Motorway Network, Heathrow and Gatwick Airports

Raynes Park railways station close by provides frequent commuter services to London Waterloo, alternatively Wimbledon railway station has access to numerous train services and also access to the

District Line Underground services. South Wimbledon station
further away from the property at the southern end of Wimbledon also provides access to the northern line.

Numerous bus routes run along Worple Road with frequent services to Wimbledon and the nearby Kingston upon Thames. There is also a tram service from Wimbledon that runs south towards Croydon linking a number of residential and commercial centres.

This point of Worple Road is predominantly residential with a mix
of older period properties many converted into flat and a number of newer purpose built blocks. Wimbledon itself is the main
commercial centre locally and is a short distance from the property with access to numerous retail and leisure facilities, this includes a number of well known retailers, supermarkets, restaurants located around the Centre Court shopping centre. The property is also in close proximity to both Wimbledon Common and Richmond Park.

SALES ANALYSIS

Sales Comparables
Based on comparable data the 6 x 1 beds are valued at £300,000 leasehold £325,000 Share of Freehold

The garden flat could be converted to a 2 bedroom flat by moving the kitchen in to the living room.
The garden could also be developed as there is access from the side of the building this would be STPP.
Total Value £2,450,000


Rentals


£110,000 per annum

Based on comparable data for this post code this building should be generating £132,000 per annum conservatively
We have based each flat at £1,500 per month not including the 70m2 garden flat which should be £2,000pcm

Tenure: Freehold