Entire Georgian terrace hits the market for £15million
Ever fancied owning your own street?
A fantasy once reserved for the confines of the Monopoly board has now become a reality after an entire row of Georgian terraces has come onto the market.
The street of eight Grade II listed townhouses in Bloomsbury, London have been put up for sale for £15.5million for the first time in over half a century.
This row of Grade II listed terraces have been put up for sale for £15.5million by the charity arm of University College London Hospitals to help fund research projects
Located at 46-60 Huntley Street, just moments from Goodge Street station, the Georgian terrace currently houses 23 self-contained residential flats, ranging from studios to one and two bedroom apartments.
Twenty of the flats are currently let on short-hold tenancies, one on a long-term tenancy, and two are vacant.
Together, it is estimated that the properties could pay a total annual rent of £608,000 – a yield of around four percent.
Huntley Street in Fitzrovia, London is moments from the capital's biggest tourist attractions and several world-class universities
The freehold terrace has been put up for sale by the charity arm of University College London Hospitals to help fund health developments, particularly on its Middlesex campus.
‘We see this as the right time to use some of the charity’s existing assets to release value and fund our expansion and redevelopment of assets elsewhere,’ said Peter Burroughs, Development Director at University College London Hospitals Charity.
They are being sold via property agents Knight Frank, who described the sale as a ‘rare’ and ‘exiting’ investment opportunity.
The Georgian terrace is comprised of 23 individual flats, ranging from studios to one and two bedroom apartments
It is the first time the properties have gone on sale in 55 years.
‘46-60 Huntley Street comprises an extremely rare unbroken freehold terrace of residential properties in Central London, offering an immediate and highly secure income stream,’ said Nick Pleydell-Bouverie, Partner, Knight Frank Residential Capital Markets.
‘The investment also presents a range of exciting opportunities to further enhance value and income in the future.’