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Property collection spring | 2022
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SENSE AND SENSITIVITY
DATA INSIGHT
future proof
The
office
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FEEL GOOD DESIGN
insight
PRIME PORTFOLIO
RESIDENTIAL REAL ESTATE FOR PRIVATE CLIENTS
A rare opportunity to buy a packaged portfolio of residential properties in prime Central London
A rare opportunity to acquire a portfolio of eight prime Central London residential properties as a rental income package
Residential Investment Portfolio - London
Regulatory Control Through Subscription And Regulated Bodies:
The Property Ombudsman The London Standard Accreditation Scheme FCS Compliance (Financial Crime Services) Lonres ResCheck The Tenants Deposit Custodial Scheme
“Prime RESI Journal of Luxury Property” October 2019
‘Top 25’ London Property Buying Agent - PAM AWARDS E. Private Clients
One of The 50 most influential, successful & connected primeresidential property acquisition specialists in Britain, 2019 Sponsors of ‘STEP’ Asia and Jersey Conferences
HORSELYDOWN LANE
Award Winning Service
Back
London is a capital city that has always been a key part of the global appetite for ’bricks and mortar’ investments. It is one of the top locations for many investors and is considered a safe haven for wealth protection.
Why London?
Location Map
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Emperors Gate SW7
View
Draycott Avenue SW3
Culford Gardens SW 3
Charles II Place SW3
Vincent House SW1
Temple Avenue EC4
Westminster Quarter
View Map
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Why this portfolio?
It is a market that generates consistent returns and positive capital growth as key drivers. The London residential market is always seen as a long term hold and a highly desirable residential target for sophisticated owners usually alongside a spread of other assets within their overall ownership.
To assemble these individual properties required patience and knowledge. They are not just taken off the shelf in an arbitrary manner. The resulting properties are an achievement of buying, refurbishing and selling other units over the decades of ownership to constantly improve towards this final holding and importantly have an occupancy rate of 97% (2021). They have always been at the upper end of Prime Portfolio's lettings occupancy rates overall.
Portfolio Overview
Located in Central London's most desirable postcodes, the portfolio, which includes one house and six flats, has been acquired as individual assets by Prime Portfolio since the 1990's on behalf of a private investor. It has been exclusively let and managed by the business and has benefitted from a steady and continuous income stream having been fully let and maintained throughout the period of ownership. In their capacity as asset managers, Prime Portfolio have both maximized the rental income and maintained the capital value of the portfolio. Their in depth knowledge and detailed insight of the portfolio means that they are well positioned to ably assist the new owners in an ongoing relationship.
The properties are held in an offshore Special Purpose Company (SPV) and whilst it is not the vendors intention to sell the holding company they are only contemplating a sale to a buyer.
The portfolio comprises six prime Central London residential assets and represents an extremely rare opportunity to enter the London market generating immediate income. For any buyer looking to invest in and grow further a residential portfolio the presentation is an immediate platform to build on.
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The properties are offered by private treaty to existing, to existing investors in the market or alternatively new funds to be allocated to the Central London Residential market. It is the owner’s intention that the portfolio be managed and let with maximum continuity and we are therefore seeking interest preferably from buyers that will continue the relationship already established with Prime Portfolio.
The following pages set out details of each unit and the tenancies, leases, income and rent schedules. They are held on Assured Short Tenancies (AST’s) and one Company let.
Also enclosed is the information regarding Prime Portfolio and a link to our website along with the services and compliance we work hard to adhere to as a business.
They are let on Assured Shorthold Tenancies (AST’s) and one company let.
capital value.
CHARLES II PLACE CHELSEA SW3 £2.5m
Chelsea LONDON SW3
A beautifully updated three bedroom furnished house located in a secure gated development off the Kings Road. The property comprises an eat in, fully fitted kitchen and a wc on the ground floor, leading up to a large reception room and second bedroom with built in wardrobes on the first floor. On the second floor is the master bedroom with en-suite and built in wardrobes, family bathroom, third bedroom/study and access to the ample storage available in the loft. The property further benefits from a garage, porter and easy access to the many shopping and travel amenities of the Kings Road.
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Master Bedroom with En-Suite Bathroom 2nd Double Bedroom Bedroom 3 Family Bathroom Guest Cloakroom Eat In and Fully Fitted Kitchen Garage Porter Secure Gated Development
PROPERTY 1
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Culford Gardens CHELSEA SW3 £2.5m
CHELSEA LONDON SW3
£POA
A smart two bedroom flat on the second floor of this small residential block in a quiet back street close to Sloane Square.
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Entrance Hall Spacious South-facing Reception Room with Balcony Two Double Bedrooms Two Bathroom one En-Suite Luxury Fitted Kitchen
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PROPERTY 2
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DRAYCOTT AVENUE CHELSEA SW3 £1.7m
A charming newly redecorated two double bedroom first floor flat close to Sloane Square. The property enjoys a refurbished kitchen and bathroom, fitted wardrobes in both bedrooms and a bright reception room.
Entrance Hall Reception Room with Dining Area Fitted Kitchen Master Bedroom with built in wardrobes and En Suite Bathroom 2nd Bedroom / Study Bathroom Lift
PROPERTY 3
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EMPEROR'S GATE SOUTH KENSINGTON SW7 £1.6m
SOUTH KENSINGTON LONDON SW7
A newly decorated and repainted bright second floor, two bedroom contemporary apartment in this sought after enclave in South Kensington. The flat offers plenty of room for entertaining with a spacious reception room and dining area, fully fitted kitchen with breakfast area and two double bedrooms, both with excellent storage. This flat has wooden flooring throughout.
Entrance Hall Reception/Dining Room Family Bathroom Master Bedroom with En-suite Shower Room 2nd Double Bedroom Fully Fitted Kitchen Wooden Flooring Great Storage 2nd Floor Walk Up
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PROPERTY 4
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VINCENT HOUSE WESTMINSTER SW1 £1.75m
A three double bedroom, two bathroom flat located on the third floor of this popular portered development with direct views of Vincent Square. Located within easy reach of Pimlico, St James Park and Westminster tube links and the surrounding area offers a variety of retail stores and restaurants.
Entrance Hall Reception Room with views over the Square Master Bedroom with En Suite Bathroom Second Double Bedroom Bathroom Third Double Bedroom Kitchen Porter Lift
PROPERTY 6
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WESTMINSTER QUARTER WESTMINSTER SW1 £1.6M
Elizabeth Court Westminster London SW1
£pOA
Recently constructed new base in Westminster. South facing chic two double bedroom sixth floor apartment with lifts, 24 hour concierge, gym, communal roof gardens and underground parking on a first come first serve basis. It is located in the historic centre of London, close to the River Thames, Houses of Parliament and Buckingham Palace. Victoria and St James's Park tube stations are only a short walk away.
2 Double Bedrooms Bathroom Shower Room Reception Room Fully Fitted Kitchen 2 Winter Gardens Lift 24 Hour Concierge Gym Communal Roof Gardens
PROPERTY 7
PROPERTY SCHEDULE AND Tenancy Overview
Charles II Place, SW3 Culford Gardens, SW3 Draycott Avenue, SW3 Emperor’s Gate, SW7 Vincent House, 3rd Floor, SW1 Westminster Quarter, SW1
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3 2 2 2 3 2
2.5 2 2 2 2 2
1,178 / 109.44 1,119 / 104 731 / 68 907 / 84 1,164 / 108.1 1,022 / 95
Freehold Expires 19th September 2146 964 years from 24th June 1987 term is 999 years from 25th December 1987 999 years from 1st July 1998 999 years from 20th November 2015
N/A Peppercorn £150.00 pa Peppercorn Peppercorn £500 pa
01.07.22 - 31.12.22 - £1,500.00 25.03.24-24.03.25 £6,683.00 31.03.23-31.03.24 - £3,753.00 30.06.23-30.06.24 -£3,885.00 01/01/2024 to 30/06/2024 - £3,932 Service Charge 01/01/2024 to 31/12/2024 - £9,840
Let at rent of £1,097.27pw Tenancy fixed term runs to 27th April 2025. Break clause for tenant – 2 months’ notice after 28th April 2024 Break clause for landlord – no possession until 27th June 2024 Let at rent of £900pw RENEWAL UNDER NEGOTIATION Periodic Tenancy. No fixed term. Runs monthly. Mutual break clause. Tenant notice 1 month from the 1st of December 2023. Landlord notice 3 month 1st of December 2023 Last rent at £850 pw. VACANT Let at rent £820 pw Tenancy 1 year fixed term end 4th April 2025. Break clause for Landlord and Tenant, notice could be served at 10 months to end the tenancy at the end of the fixed term. Let at rent £ 850pw. Tenancy runs to 23rd August 2024, renewal due 24th August 2024 with increase to be agreed Currently on a market to rent £1150pw
Weekly rent £1,097.27 Annual £57,058 Weekly rent £900 Annual £46,800 Annual Rent £44,200 £42,640 £44,200 Annual Rent £59,800
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Property address
Bedrooms
Bathrooms
Sq ft / sq m.
Lease
Ground Rent
Last Service Charge
Tenancy Info
Annual Rent
Charles II Place, SW3 Culford Gardens, SW3 Draycott Avenue, SW3 Emperor’s Gate, SW7 Temple House, EC4 Westminster Quarter, SW1 Vincent House, 3rd Floor, SW1 Vincent House, 4th Floor, SW1
Emperor’s Gate, SW7 Temple House, EC4 Westminster Quarter, SW1
Charles II Place, SW3 Culford Gardens, SW3 Draycott Avenue, SW3
Property Terms and Tenancy Overview
Property address Bedrooms Bathrooms Sq ft / sq m. Lease Ground Rent Last Service Charge Tenancy Info Annual Rent
Prime Portfolio
Our fully integrated service ensures that our clients benefit from the advice of dedicated London residential experts at every stage of their investment journey from acquisition, letting and management, building construction, refurbishment and eventual sale. Advice is tailored to each individual investor’s requirements and as an independent company, the service that we provide is both impartial and confidential.
BUYING | LETTING AND MANAGEMENT | SALES BLOCK MANAGEMENT | PRIVATE HOUSEHOLD MANAGEMENT PROPERTY ACCOUNTS MANAGEMENT NON-DOM (UK) TAX CONSULTANCY
Professional Memberships
The Association of Estate Agents and Property Consultants (NAEA) The Association of Residential Letting Agents (ARLA) The Association of Residential Managing Agents (ARMA)
Regulatory Control
‘Top 25’ London Property Buying Agent - PAM AWARDS, Private Clients
‘One of The 50 most influential, successful & connected prime residential property acquisition specialists in Britain, 2019’ Sponsors of ‘STEP’ Asia and Jersey Conferences
Services
Our success is built on long term relationships with our clients and our established reputation within the London residential market which allows us to access the best investment opportunities both off and on market. We pride ourselves on our outstanding management and letting service which ensures high quality long term tenants and low void periods.
We also work closely with private banks, law firms, accountancy firms, trust companies and similar organisations to provide London residential investment advice.
The portfolio started life with a first acquisition in the early 1990’s when one of the founding directors of Prime Portfolio started the relationship with the Clients. Established in 2005, Prime Portfolio is a prime Central London residential property company based in Westminister. We invest on behalf of UK and international private clients in private homes and rental properties. Our director, John Vaughan, has been advising on the prime London market since 1990 and is amongst the most experienced London advisors.
52 Grosvenor Gardens London SW1W 0AU
www.primeportfolio.com
info@primeportfolio.com
+44 (0)20 7409 0209
Access to the Prime Portfolio website is confirmation that you have understood and agreed to be bound by all of these terms and conditions.
Price £11,650,000 subject to contract
For more information or to express interest in the Portfolio please confidentially contact:
john.vaughan@primeportfolio.com
+44 (0)203 325 7541
VINCENT HOUSE WESTMINSTER SW1
VINCENT SQUARE WESTMINSTER LONDON SW1
A three double bedroom furnished flat on the fourth floor of this very popular development overlooking one of London’s largest residential squares. The property has been repainted throughout and offers light and spacious accommodation, wooden floors, reception and dining area overlooking the square, fully fitted kitchen, two bathrooms and plenty of storage space. Benefits include porter, lift and convenient access to the transport links of Pimlico, Victoria, St. James’s Park and Westminster.
3 Double Bedrooms 2 Bathrooms Reception Room with Dining Area Fully Fitted Kitchen Lift Porter
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sold
London is a Capital City that has always been a key part of the global appetite for ’bricks and mortar’ investments. It is still one of the top locations for many investors and is considered a safe haven for wealth protection. It is a market that generates consistent returns and positive capital growth as key drivers. The London residential market is always seen as a long term hold. A prime residential investment opportunity for sale.
04 Emperors Gate SW7
03 Draycott Avenue SW3
07 Vincent House SW1
06 Vincent House SW1
05 Temple Avenue EC4
08 Westminster Quarter
Properties
01 Charles II Place
02 Culford Gardens
TEMPLE AVENUE BLACKFRIARS EC4 Sold
Blackfriars, London EC4
A beautifully presented two double bedroom flat in Temple House, close to the banks of the River Thames in Lincoln’s Inn. This property benefits from a reception room with dining area, a separate smart integrated kitchen, solid wood flooring, comfort cooling, good storage throughout and a large terrace. There are many amenities including shops, restaurants and theatres on the doorstep and the transport links of both Embankment and Charing Cross are within walking distance.
2 Double Bedrooms 2 Bathrooms Fully Fitted Kitchen Large Reception Room Great Storage Terrace Hard wood floors Concierge
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PROPERTY 5
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