Westbourne Gardens
We’re tough negotiators. We secured this freehold building, containing 8 newly refurbished flats, for just £1000 per square foot. We also negotiated a 3 year rental guarantee resulting in a net yield of 5.3%.
- Price
- £8.4 million
- Date Sourced
- April 2011
- Service
- Investing, Property Management
- Result
- Good Saving
The Brief
An African Investor
The Challenge
Our client had recently sold his business and was looking to invest £20 million into the prime Central London property market. We were tasked with building an investment portfolio for our client.
What We Did
We secured this freehold building with a lift and 8 self contained newly refurbished flats. We also managed to secure a 3 year rental agreement for £450,000 per annum, with no agency fees, resulting in a net yield of 5.3%. The acquisition price of £8.4m is just over £1000 per sq foot. Similar flats were achieving between £1200 - £1400 per sq ft just 2 blocks down, showing good signs for capital appreciation.
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