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Funding
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Private Listing - Residential Portfolio in West London, United Kingdom

London
,
United Kingdom
DEAL
001071
POSTED ON
July 22, 2020
INVESTMENT SUMMARY
IRR
5%
Multiple
NA
LTV
NA
First Year CoC
Stabilised CoC
Status
Funding
Deal #
001071
Asset Class
Residential
Strategy
Core
Capital Type
Full Stack
Deal Size
£
278.0
m
Investment Size
£
27.8
m
Holding Period
NA
INVESTMENT HIGHLIGHTS
  • The portfolio consists of a total of 28 apartments, distributed across 3 buildings and GIA of 20,666 sqf. Estimated ERV is £1,187,463. The buildings can be acquired separately and they are not held on an SPV with all apartments being self contained.
  • The first building is located in Marylebone, W1, and is a mixed used building which currently contains 4 residential apartments and 2 floors of medical space. GIA is 9,477 sqf and current rent is £414,160 with an asking price of £9m (4.6%). Average ppsf is £949. The building is arranged over lower ground, ground and four upper floors with further development potential.
  • The second building is located in Queen's Gardens, W2, and contains 11 apartments ranging from studios to 2 bed apartments. Property has been recently refurbished to high standards. GIA is 5,151 sqf and current rent is £356,000 with an asking price of £8.9m (4%). The building is in an SPV.
  • The third building is located in Princess Square, W2 and contains 7 apartments arranged over 6 floors. Property is currently vacant and requires Capex. GIA is 6,038 sqf. Asking price of £9.9m average of £1,639 psqf (4.2% based on exp. ERV).
  • This is a unique to acquire a residential portfolio in a very demanded area of London. The seller will consider an important discount for an investor willing to take over the full portfolio. Total asking price is £27.8m equating to an average of £1,345 ppsf.
KEY DEAL POINTS
KEY FINANCIALS

ABOUT SPONSOR
Private Deal
An off-market opportunity, details of which are available by invitation only.
FURTHER IMAGES
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LOCATION
DEAL DATA ROOM
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INVESTMENT SUMMARY
Strategy
Core
Asset Class
Residential
LTV
NA
Deal Size
£
278.0
m
Closing
Sep 2020
Capital Type
Full Stack
Investment Size
£
27.8
m
Net IRR
5%
Multiple
NA
Holding Period
NA
INVESTMENT DETAILS
  • The portfolio consists of a total of 28 apartments, distributed across 3 buildings and GIA of 20,666 sqf. Estimated ERV is £1,187,463. The buildings can be acquired separately and they are not held on an SPV with all apartments being self contained.
  • The first building is located in Marylebone, W1, and is a mixed used building which currently contains 4 residential apartments and 2 floors of medical space. GIA is 9,477 sqf and current rent is £414,160 with an asking price of £9m (4.6%). Average ppsf is £949. The building is arranged over lower ground, ground and four upper floors with further development potential.
  • The second building is located in Queen's Gardens, W2, and contains 11 apartments ranging from studios to 2 bed apartments. Property has been recently refurbished to high standards. GIA is 5,151 sqf and current rent is £356,000 with an asking price of £8.9m (4%). The building is in an SPV.
  • The third building is located in Princess Square, W2 and contains 7 apartments arranged over 6 floors. Property is currently vacant and requires Capex. GIA is 6,038 sqf. Asking price of £9.9m average of £1,639 psqf (4.2% based on exp. ERV).
  • This is a unique to acquire a residential portfolio in a very demanded area of London. The seller will consider an important discount for an investor willing to take over the full portfolio. Total asking price is £27.8m equating to an average of £1,345 ppsf.
INVESTMENT HIGHLIGHTS
Funding
SUMMARY
Opportunity to acquire a portfolio of 3 exclusive residential buildings in the West End postcodes being W1 and W2. The portfolio consists of 3 buildings with a total of 28 apartments and 20,666 sqf GIA. ERV is estimated at £1,187,000 pa on a full occupancy basis. The 3 building has a GDV of £27.8m and the owner is ready to apply a unique discount for the 3 buildings.
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