13 Bateman Street comprises three apartments and a mews house to the rear, all of which have recently been refurbished to an exceptional standard.
The façade has been sensitively restored to its former glory during the renovation works.
Apartments 3 and 4 benefit from private external terraces. Each unit has been comprehensively refurbished with a full specificationset out on the following page.
The residential accommodation is fully let to Stayo with a year one income of £432,000 PA and annual RPI linked Rent Reviews.
Location
Desirably positioned between the world-renowned districts of Mayfair and Covent Garden, Soho is the West End’s most vibrant and eccentric sub-market.
With the exceptional retail provision of Oxford Street, Regent Street and Bond Street just moments away, Soho boasts an envious location to live, work & play. Soho Square is moments away with the gardens providing a contrasting tranquil environment to that of the bustling streets of Soho and Chinatown.
13 Bateman Street benefits from excellent access to the London transport network with the highest possible Public Transport Accessibility Level of (6b). Tottenham Court Road, Leicester Square, Piccadilly Circus and Oxford Circus are a short walk away. The property is situated within close proximity to a number of bus stops providing excellent access to the London bus network.
Accommodation
9 Royalty Mews - Ground - Living Room - 19’0” x 12’5” (5.79 x 3.78m)
9 Royalty Mews - Ground - Kitchen - 15’11” x 14’2” (4.85 x 4.32m)
9 Royalty Mews - Ground - Dining Room - 16’4” x 15’3” (4.98 x 4.65m)
9 Royalty Mews - Ground - Bedroom 2 - 12’10” x 9’2” (3.91 x 2.79m)
9 Royalty Mews - First - Master Bedroom - 14’10” x 12’3” (4.52 x 3.73m)
Apartment 1 - First - Kitchen/Living/Dining - 19’0” x 12’5” (5.79 x 3.78m)
Apartment 1 - First - Master Bedroom Suite - 14’0” x 8’8” (4.27 x 2.64m)
Apartment 2 - First - Kitchen/Living/Dining - 17’10” x 14’11” (5.44 x 4.55m)
Apartment 2 - First - Master Bedroom Suite - 13’7” x 9’9” (4.14 x 2.97m)
Apartment 2 - First - Bedroom 2 - 12’2” x 10’0” (3.71 x 3.05m)
Apartment 3 - Third - Living/Dining - 15’11” x 13’8” (4.85 x 4.17m)
Apartment 3 - Third - Kitchen - 15’11” x 14’2” (4.85 x 4.32m)
Apartment 3 - Third - Terrace - 14’11” x 12’2” (4.55 x 3.71m)
Apartment 3 - Fourth - Master Bedroom - 16’2” x 15’1 (4.93 x 4.60m)
Terms
Offers are invited in the region of £7,750,000 STC for the entire share capital in the BVI based SPV. An asset sale will also be considered. A purchase at this price represents an attractive Gross Initial Yield of 5.57%.
Tenure
Each apartment is held by way of a 999-yearlease from January 2018.
The respective title numbers are
NGL979512, NGL979513, NGL979514 and NGL979515
.
The vendor is seeking a sale of the entire share capital of the BVI registered SPV.
Covenant
Rodusigi Limited t/a Stayo are a serviced accommodation provider. Stayo have over 10 years within the serviced accommodation industry and are well regarded.
More information about Stayo can be found here: https://stayo.com/about/
Tenancy Schedule
For a detailed view of the tenancy schedule, please view attached brochure.
Planning
The property is situated within the London Borough of Westminsterand sits within the Soho Conservation Area.
The property is not Listed.
VAT
The property is not elected for VAT.
Legal Costs
Each party is to be responsible for their own legal costs incurred in thetransaction.
Energy Performance Rating
13 Bateman Street has an EPC rating of B.
9 Royalty Mews has an EPC rating of C.
A copy of the EPC for each respective unit is available within the Data Room.
Specification
- Virtual Freehold (999 leases).
- Rare opportunity to acquire three self-contained residential apartments and a mews house in prime Soho which have recently been refurbished to a high-specification.
- Prominent location within the vibrant Soho district with an eclectic mix of theatres, entertainment venues and retail offering.
- The residential accommodation is fully let to Stayo with a year one income of £432,000 PA and annual RPI linked Rent Reviews.
- The residential accommodation extends to approximately 3,538 sq. ft. GIA.
- Excellent income profile with asset management opportunities for a piecemeal breakup.