Case Studies

Investment Criteria

Long leases (80+ years) or shares of the freehold
Prime: W8, W11 and W2, with parking and porter
Purchase price: up to £1,250,000
All-in budget: £1,500,000  

The Final Selection

Our client fell in love with a penthouse flat in a portered block on the border between Notting Hill and the increasingly fashionable Westbourne Grove. The flat represented excellent value per square foot and offered the lock-up-and-leave convenience that the clients required.

LCP acquired an identical property in the same block for an investor client in 2006, so the investment credentials were clear, but the combination of 4 balconies , roof top views, a parking space and porterage also ticked all of the other boxes as well.

The Costs

Purchase Price: £1,000,000
Refurbishment Cost: £112,000
Total Capital Investment: £1,112,000
SDLT, Furnishing & Fees: £96,683
Total Investment: £1,208, 683

The Returns

With 4 balconies, secure underground parking, porterage and a communal garden area, the flat offers a lot of faciltiies at a competitive rate for a prime Notting Hill location. The flat was quickly snapped up at £850 per week from a single professional.  

The tenancy commenced within a couple of weeks of the flat coming onto the market and delivered a gross return is 4.2% with a net yield of 3.1% - at the upper end of current market averages