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Grosvenor Rd 7 Unit Apartment Building £3,000,000 (£428,571/Unit) 4.90% Net Initial Yield St Albans AL1 3AE
Investment Highlights
- Located within area of healthy residential and commercial mix
- Good connectivity to town centre amenities
- St Albans City train station nearby
Executive Summary
This impressive detached building features seven two-bedroom apartments, all currently let under Assured Shorthold Tenancies (ASTs), with parking provided for each unit. It is conveniently located within one mile of vibrant St Albans City Centre, which offers a wide variety of well-known branded shops and restaurants. Additionally, the mainline station nearby provides fast and regular access to London St. Pancras. The site also presents an exciting opportunity to develop two further selfcontained units, as per application reference (5/2024/0566), enhancing the investment potential with strong prospects for resale or rental return.
The property is a detached residential building with a total area of approximately 4,000 square feet. It contains seven well-maintained twobedroom apartments, each measuring around 55 square meters (560 square feet), with an estimated rental value of £147,000 per annum. There is also access to the property's parking facilities and garden via a private driveway.
The property is a detached residential building with a total area of approximately 4,000 square feet. It contains seven well-maintained twobedroom apartments, each measuring around 55 square meters (560 square feet), with an estimated rental value of £147,000 per annum. There is also access to the property's parking facilities and garden via a private driveway.
Property Facts
| Price | £3,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | £428,571 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.28 ac |
| Yield | 4.90% | Property Size | 5,767 sq ft |
| Tenure | Freehold | No. Floors | 3 |
| No. Units | 7 | Year Built | 1900 |
| Property Type | Build-to-Rent | Parking Allocation | 1.04/1,000 sq ft |
| Property Subtype | Apartment |
| Price | £3,000,000 |
| Price Per Unit | £428,571 |
| Sale Type | Investment |
| Yield | 4.90% |
| Tenure | Freehold |
| No. Units | 7 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.28 ac |
| Property Size | 5,767 sq ft |
| No. Floors | 3 |
| Year Built | 1900 |
| Parking Allocation | 1.04/1,000 sq ft |
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