19 Bed Flat For Sale Sunrise Avenue, Hornchurch, RM12
£2,650,000- Flat
1 of 11
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Last Updated: 15th March 2024
Description
An opportunity to acquire a newly refurbished residential property providing specialist supported accommodation. Let on a new 25-year FRI lease to One CIC uncapped annual increases.\r
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The building is arranged as 19 self-contained units plus games room, staff office, staff accommodation, library, meeting rooms and communal lounge measuring 6,696 sq ft GIA (622 sq m).\r
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The property has been redeveloped to a high standard, increasing the energy efficiency of the building to EPC rating B.\r
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Planning consent granted for the conversion of the former care home to sui generis for the use of supported housing. Planning Ref: P0364.22.\r
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Alton House is ideally located in the popular Hornchurch 0.7 miles from Hornchurch Station (District Line).\r
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Current passing rent of £225,155 per annum. \r
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The property has a long-term nomination agreement with Havering Council.\r
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Council driven project and designed in partnership with Havering Council housing team.\r
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Offers in excess of £2,650,000 (Two Million Six Hundred Fifty Thousand Pounds) subject to contract.\r
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A purchase at the asking price would reflect a Net Initial Yield of 7.98% assuming standard purchaser's costs.
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The building is arranged as 19 self-contained units plus games room, staff office, staff accommodation, library, meeting rooms and communal lounge measuring 6,696 sq ft GIA (622 sq m).\r
\r
The property has been redeveloped to a high standard, increasing the energy efficiency of the building to EPC rating B.\r
\r
Planning consent granted for the conversion of the former care home to sui generis for the use of supported housing. Planning Ref: P0364.22.\r
\r
Alton House is ideally located in the popular Hornchurch 0.7 miles from Hornchurch Station (District Line).\r
\r
Current passing rent of £225,155 per annum. \r
\r
The property has a long-term nomination agreement with Havering Council.\r
\r
Council driven project and designed in partnership with Havering Council housing team.\r
\r
Offers in excess of £2,650,000 (Two Million Six Hundred Fifty Thousand Pounds) subject to contract.\r
\r
A purchase at the asking price would reflect a Net Initial Yield of 7.98% assuming standard purchaser's costs.
Agent Details
ESTATE OFFICE INVESTMENTS LIMITED
Ground Floor 1 Finchley Road, London, NW8 9TT
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.