Redevelopment project of two buildings.
Description
Total living area of the buildings is 2,229 m²
The project consists of three stages of construction.
The first stage was completed in 2016. At this stage, the former electronics warehouse was rebuilt into a residential building with 15 apartments.
The second stage will be completed in June 2017. At this stage, the second building will be rebuilt into a residential house with 14 apartments.
The third stage will be completed in June 2018. At this stage, the first builing will be extended with 3 additional floors with 11 apartments.
Project cost: £ 24,800,000.
Equity invested: £ 14,000,000.
Bank & Mezzanine Finance: £ 10,800,000.
Estimated selling price: £ 34,650,000.
Initiation of sale: September 2020.
Minimum Investment: £ 250,000
Projected Rental Yield: 5.48%.
The property is situated in the northern part of London. There are community amenities, Metro stations, University of Arts London, University of Westminster and London Zoo located within walking distance from the buildings.
