UCLHC launches Bloomsbury sale

By James Buckley - Monday, October 09, 2017 10:20

Knight Frank’s Residential Investment team, on behalf of University College London Hospitals Charity (UCLHC), has launched 46-60 Huntley Street, an unbroken freehold terrace of eight Grade II Listed buildings in Bloomsbury.

Knight Frank is guiding offers in excess of £15.5m, equating to £930 per sq ft.

For the first time in 55 years the properties have been brought to the market, presenting a rare opportunity to purchase an unbroken row of terraced properties in central London, with a total passing rent of c.£608,150 per annum.

UCLHC is selling the asset in order to release value and help fund its health facility developments; in particular the extensive new health related development on its Middlesex campus. The properties are currently let on the open market to a broad range of tenants.

Peter Burroughs, Development Director at UCLHC, said: “We see this as the right time to use some of the charity’s existing assets to release value and fund our expansion and redevelopment of assets elsewhere.”

Nick Pleydell-Bouverie, Partner, Knight Frank Residential Capital Markets, said: “46-60 Huntley Street comprises an extremely rare unbroken freehold terrace of residential properties in Central London, offering an immediate and highly secure income stream. The investment also presents a range of exciting opportunities to further enhance value and income in the future.”

46-60 Huntley Street is currently configured to provide 23 self-contained residential flats. The buildings offer compact studio units, one and two bedroom apartments. In total, the assets extend to a total net saleable area (NSA) of circa 16,655 sq ft. Twenty of the flats are let on Assured Shorthold Tenancies and Contractual Tenancies, with two flats vacant and one subject to a Regulated Tenant.

The properties are located just a four minute walk from Goodge Street Underground Station.

jbuckley@costar.co.uk  

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