Brooke Road, Stoke Newington, London, N16

SUMMARY

* Rare opportunity to acquire a freehold building comprising a beautiful three-bedroom garden flat, in addition to two licensed HMO flats totalling 7x ensuite units.

LOCATION

* The property is set on Brooke Road equidistant from both Rectory Road & Stoke Newington High Street and their various amenities.

EXISTING

* The property is arranged across five storeys with external parking for two cars that are currently let for £3,000 per annum.

* The garden flat is split over the ground & basement totalling 1,260 SqFt (NIA) including a small office and cinema room with an abundance of storage space and is currently let on an AST generating £6,000 pcm (Short Let until August 26). The garden flat has a EMRV on ASTs of £4,250 pcm

* Flat 2 covers the first floor, totalling 592 SqFt (NIA), being a licensed HMO with 3-ensuite units with one communal kitchen. Each unit is rented for £1,550pcm. - Totalling £55,800 per annum

* Flat 3 is split across the second & third floors, totalling 1,044sqft. Internally this is arranged as a 4-ensuite HMO with one communal kitchen. Two rooms are rented for £1,650pcm and two for £1,550 pcm. - Totalling £76,800 per annum.

* The property has all necessary certifications and licensing in place.

* The total ERV for the building is £186,600 per annum (ASTs) providing an anticipated Gross Yield of 6.55%.

* The building benefits from planning permission for a further unit in the basement following excavation to create a front lightwell and external staircase. - 'Conversion of basement into habitable accommodation associated with existing ground-floor flat, including external staircase and front lightwell' (Planning Ref. 2025/2605)

TERMS

* The property is not elected for VAT.

* The property is available freehold.

* Offers in excess of £2,850,000