Kensal Rise split freehold/ leasehold property for sale

£405,000

About the Property

This is a 6-room studio complex with 2 reception rooms and a vocal booth, located in Kensal Rise, close to the Harrow Road (top of Ladbroke Grove).

The property is split 2/3 leasehold and 1/3 freehold.

The lease is 12-13 years long (no breaks) and generates a healthy profit on sublets to independent producers.

The lease is available separately for £55k

Freehold £350k, subject to signed contract.

Together the price is £405k

The individual studio rooms all have tie lines into a shared vocal booth.

Producers share the booth and central lounge/ kitchen & WC.

Financial summary

Total income from sublet £5,050

Calculated as follows:

The freehold section:

Room 1 £750
Room 2 £750

Subtotal £1500

Leasehold section:
Room 1 £900
Room 2 £950
Room 3 £950
Room 4 £750
Subtotal £3550

Total running costs for entire property £1,800 per month (approx.), which is inclusive of ground rent (for leased part of building) as well as business rates and utility bills.

Monthly profit from both sections = approx £3,250 pcm