Leasehold - The property is held on a lease for a term of 189 years from 24th June 1979 (having approximately 145 years unexpired) at a peppercorn ground rent.

Separate ground floor entrance to rear, accessed from an alley (off King Street), opening to stairs up to

First floor - Two rooms, fitted kitchen with door off to deep boiler cupboard and door to external balcony and fire escape

Second floor - Two rooms, bathroom with wash basin, separate WC with wash basin

Third floor - One room (with dormers and eaves storage), deep store cupboard off landing

Approximate Gross Internal Area (excluding eaves storage) 106 sq m (1144 sq ft)

The property will be sold subject to a lease in favour of Housing Action Management Ltd for a term of five years from a date on or before completion at a rent of £3500 per calendar month, subject to fixed annual rent increases of 5%.. The lease contains internal repairing and insuring covenants (IR&I). A rent free period of five months from commencement of the lease will apply while the lessee undertakes a schedule of works.

Rents will rise as follows (yield on guide in brackets)

Year 1 £42,000 pa (10.5%)

Year 2 £44,210 pa (11.05%)

Year 3 £46,537 pa (11.63%)

Year 4 £48,987 pa (12.25%)

Year 5 £51,565 pa (12.89%)

There is a license (dated 6 October 2021) from the London Borough of Ealing for use of the property as a house in multiple occupation (HMO) until 5 October 2026. This HMO licence is NON TRANSFERABLE and the buyer or the lessee will have to reapply to the local authority for a licence in the name of the applicant.