A rare portfolio of 10 residential properties all located in emerging parts of South West London has come on to the market at a guide price of £7m.
The properties, which are in need of renovation, offering investors an opportunity to add value, are situated in East Sheen, Richmond and Wimbledon, all of which are highly desirable locations in Zone 3 South West London.
The portfolio, which is being sold by Cluttons on behalf of a private vendor, includes eight freehold properties with six being terraced houses while two are configured into apartments.
Each asset is approximately 1,200 sq ft and in need of major refurbishment. There are three regulated tenancies within the portfolio, six on Assured Shorthold Tenancies (ASTs) and one is vacant.
Mark Clegg (below), head of residential investment at Cluttons, commented: “This type of portfolio was once quite common in the market around 10 years ago but is now a rarity. There is a great opportunity to capitalise on the assets’ locations within these sought after areas, which attract median rents of c.£1,500pcm - £2,500pcm and asking prices of c. £1.25m for three- and four-bedroom houses.
“Many investors can naturally see a good potential to renovate the properties and increase the floorplates with either extensions or loft conversions.”
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