Quick Sale - One Bedroom - BOW E3 - Share of Freehold - Pub Conversion - High Ceiling -

Placed: 07/12/17
Region: London
Location: Stratford
Category: Real Estate


Content of the advertisement:

Property type: Flat, Number of bedrooms: 1

50 St Leonard Street E3 3BT

* Conversion
* Share of freehold
* Approximately 50 m2
* One double bedroom
* High ceilings
* Converted a extra double room
* Hardwood flooring
* Double glazing
* Gas central heating
* Open plan living room
* Reputable management company

My one bedroom apartment is in a fantastic location, only 1 minute walking distance to Bromley by Bow tube station which is in zone 2 & 3, this makes it very easy to commute into the City or the Canary Wharf. The A12 is literally on your doorstep, you can join the A406, M11 and if needed the M25.

There are two possible opportunity to maximizing your investment as I will explain a bit further down.

My one bedroom apartment is on the first floor and is part of the actual pub conversion, so it has the high ceilings, it is not the conversion section.

The apartment is currently renting as a two double bedroom, I have managed to convert the extra double bedroom which worked out perfectly and has increased the rental income dramatically. Initially, I followed the guidelines from the local authority and abided by the health safety regulations. I haven't managed to get legal permission as of yet, and previously we had the freeholder missing which we have overcome. This is a place where the new buyer can increase their investment immediately and request the freeholder (which is us, there are nine flats in total, and 6 of us have the share of freehold through directorship/shareholder of St Leonard Street Ltd).

We have recently decided between us to go ahead with major works, and this is taking place currently, and due to be finished before Christmas. We have followed strict guidelines and there is no scope in cutting corners during the works. We have decided to work with a very reputable contractor and the work is overlooked by Earl Kendrick Surveyors, who are fully managing the project. On this note, I need to stress that I have paid my share of the Section 20 notices, as well as, all the other share of freeholders and leaseholders. The cost of the project totalled to around £132K.

As I mentioned earlier, there are two ways to maximize your investment, one of which I mentioned above, and from my understanding you will not have any barriers to get permission from the freeholder, as I can tell you that there are other share of freeholders who have also converted extra bedrooms in their apartments.

The second potential increase to your investment is one of a long term idea. There may be scopes to build on top for additional apartments (this block only had two floors), this idea has only been spoken about by us directors of the company. I do need to stress that, the other directors are mainly people who have property portfolios and are very knowledgeable with the property market in London. I am quite fortunate to be working with these people and have learnt a lot over the 11 year period during my ownership.

Due to my personal situation, I am need to raise money as soon as possible, I am also open to sensible offers.

Please do not hesitate to contact me if you any questions.

Price / Salary: £395,000.00