Block of flats for sale in Mawney Road, Romford RM7

A local authority let residential investment opportunity.

• Two recently converted houses that have been fully refurbished throughout.

• Number 177 provides 6 self-contained studios with an additional office across 1,467 sqft of accommodation.

• Number 179 provides 6 self-contained studios with an additional lounge and communal kitchen across 1,582 sqft of accommodation.

• Total gia across the two buildings 3,049 sqft.

• Both buildings benefit from C3 use.

• All flats are EPC Rating C.

• Recently let to The London Borough of Havering on a 2 year lease with no breaks.

• Current passing rent £199,680 p.a.

• Freehold.

• Offers in excess of £1,775,000 (One Million, Seven Hundred and Seventy Five Thousand Pounds) subject to contract. A purchase at this level will reflect a highly attractive gross initial yield of 11.25%.