3 bed flat for sale

Grape Street, London WC2H

Guide Price £800,000

Set on the 4th floor of an attractive mansion building next to Shaftesbury Theatre, this spacious three double bedroom apartment is full of character, with large period-style windows and high ceilings creating a wonderfully bright and welcoming feel. The property offers generous proportions and plenty of natural light, making it an appealing central London home as well as a strong investment opportunity.

Currently let at approximately £50,000 per annum, there is also significant potential to add further value by extending the existing lease, creating an excellent opportunity for future capital growth. This is a very rare turn-key investment within a much sought after part of the West End theatre district. The apartment has a compliant HMO license.

Our client has commissioned an independent valuation, which places the apartment’s value at £1,125,000 assuming an extended lease. The estimated cost of extending the existing lease is £203,091, plus associated professional and legal fees.
However, the forthcoming implementation of the Leasehold and Freehold Reform Act 2024 is expected to remove marriage value from lease extension calculations. Depending on the final regulations and when the reforms come into force, a purchaser may therefore benefit from a significantly reduced lease extension premium.

Situation

Grape Street is a short, narrow road which runs north off High Holborn in the heart of the West End, adjacent to Shaftsbury Avenue and close to Covent Garden and The British Museum. This is a busy and vibrant location known for a wide range of bars, restaurants, shops and theatres, within walking distance of Holborn (Central line) and Tottenham Court Road (Elizabeth, Central and Northern lines) underground stations.

Property Ref Number:

Ham-67778