Existing clients, committed to the long-term investment benefits offered by Prime Central London, were keen to diversify their rental portfolio by purchasing a property in another of PCL’s micro markets or ‘villages’. Based overseas, LCP’s unique ‘one stop’ service, including purchase, refurbishment, letting and management offered them a hassle-free and appealing route to market.
Long Lease (80+ years) or Share of Freehold
- Search area:
North of Hyde Park (W2) to diversify their existing portfolio in SW1 (Pimlico and Westminster)
- Specific preferences:
Attractive architecture, in need of refurbishment
- Purchase price budget:
The final selection
A spacious one bedroom flat on the first floor in a period building in Bayswater with large windows and a full width balcony looking directly on to an attractive garden square.
The flat required complete modernisation, during which our refurbishment and interior design teams were able to reorganise it to provide a more practical layout, create an open plan living area and reveal grand ceiling heights, resulting in a greatly enhanced feeling of space.
The interior design scheme was specified to be high-end with a neutral pallet, attractive to blue-chip international tenants.
- Agreed purchase price:
The end result
Not surprisingly, the flat proved very popular with the rental market. LCP were able to select a professional couple working in financial services and the tenancy commenced within a couple of weeks of the flat coming to market.
- Gross rental yield:
- Valuation post-refurbishment: