163 High Street, West Drayton, Middlesex, UB7

Investment Consideration:
Gross Initial Yield: 4.93%
Rental Income: £197,000 p.a.
VAT is NOT applicable to this property
Comprises unbroken block of 17 self-contained apartments
Entire property let to The Mayor and Burgesses of the London Borough of Hillingdon. Tenant in occupation since 2016.
Total residential GIA: 587 sq m (6,318 sq ft)
Property benefits from 10 car parking spaces and cycle storage
Planning approved in October 2022 for addition of a second floor to provide 5 flats (4 x 2-bed & 1 x 1-bed) with rooftop amenity space
Total approved GIA: 294 sq m (3,162 sq ft)
Situated within 10 min walk from West Drayton Station, next to Aldi Supermarket and Tesco Superstore, amongst others
West Drayton Railway Station is part of Elizabeth Line, National Rail and London Underground, providing direct services to Paddington in 25mins, Reading in 30mins, Waterloo in 45mins.

Property Description:
Comprises unbroken residential block of 17 self-contained apartments (11 x 1-Bed and 6 x 2-Bed), providing the following accommodation and dimensions:

Ground Floor:
Flat 1 - 30 sq m (323 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 2 - 40 sq m (431 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 3 - 40 sq m (431 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 4 - 34 sq m (366 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 5 - 41 sq m (441 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 6 - 31 sq m (334 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 7 - 30 sq m (323 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 8 - 30 sq m (323 sq ft)
1 bedroom, kitchen/living room, bathroom

First Floor:
Flat 9 - 43 sq m (463 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 10 - 30 sq m (323 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 11 - 38 sq m (409 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 12 - 33 sq m (355 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 13 - 34 sq m (366 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 14 - 39 sq m (420 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 15 - 31 sq m (334 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 16 - 32 sq m (344 sq ft)
1 bedroom, kitchen/living room, bathroom
Flat 17 - 31 sq m (334 sq ft)
1 bedroom, kitchen/living room, bathroom

Lower Ground Floor:
10 car parking spaces, cycle storage, plant room

Development Opportunity:
Planning approved in October 2022 for addition of a second floor to provide 5 flats with rooftop amenity space.
Second Floor: 294 sq m (3,162 sq ft)

Flat 1 - 61 sq m (656 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 2 - 61 sq m (656 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 3 - 61 sq m (656 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 4 - 61 sq m (656 sq ft)
2 bedrooms, kitchen/living room, bathroom
Flat 5 - 50 sq m (538 sq ft)
1 bedroom, kitchen/living room, bathroom

Roof Terrace: 117 sq m (xx sq ft)

For more information, please refer planning application 15348/APP/2021/615 on Hillingdon Planning Portal:

Tenancy:
The property is at present let to The Mayor and Burgesses of the London Borough of Hillington for a term of 3 years from 1st September 2022 at a current rent of £197,000 p.a. and the lease contains internal repairing and insuring covenants. Lease renewal. Tenant in occupation since 2016. Landlord option to serve Landlord`s Work Notice to the tenant at least 3 months before starting development works.

Location:
West Drayton is a suburban town in the London Borough of Hillingdon. The property is situated within 10 min walk from West Drayton Station, next to Aldi Supermarket and Tesco Superstore, amongst others. West Drayton Railway Station is part of Elizabeth Line, National Rail and London Underground, providing direct services to Paddington in 25mins, Reading in 30mins, Waterloo in 45mins.