0 bed (for sale) Spring Street, Paddington W2

£5,750,000
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LDG
39 Foley Street, London
020 8033 8849
First Published

17th Oct 2019

Last Published

6th Nov 2019

 

Features

  • Type:
  • Bedrooms: 0
  • Listing status: sale
  • Country: England

Description

Set in a handsome Grade II listed period conversion ( Regency ) number 3 Spring Street is a unique Mixed Use Freehold Investment opportunity.

The property was subject to a complete refurbishment and structural upgrade in 2018, creating 6 residential units on the upper floors, with a commercial A1 / A2 unit on the ground and lower ground floor. As a result, there is no requirement for further capital expenditure in the near- to mid-term. The 6 flats represent an ideal investment mix with 4 x One Bed apartments, 1 x Two Bed Apartment and 1 Three x Bed Apartment.

The proximity of Paddington Station (0.1 miles) increases the attraction for corporate tenants. Paddington has access to the Heathrow Express and the imminent arrival of Crossrail will see journey times to Canary Wharf cut to just 17 minutes.
The building is now fully let and is for sale as one single title. The building qualifies for a non-residential rate of stamp duty (max. 5%), saving a purchaser up to £500,000 versus individual unit acquisitions.

 

Local info for W2

Floor plan

 

Property Value Data/Graphs for W2

Property Type % Avg. current value Avg. # beds Avg. # bathrooms
Flat 82.8% £1,230,755 2 1.1
Other 4% £2,664,981 3.2 1.2
Studio 3.5% £414,310 0 0.7
Terraced house 3% £5,590,610 9.6 3.8
Maisonette 2.1% £2,139,677 2.8 1.7
Mews house 1.6% £2,149,091 2.7 0.9
End terrace house 1.3% £20,714,118 37.1 4.5
Semi-detached house 0.5% £7,797,857 11.9 1.4
Block of flats 0.4% £32,966,667 0 0
Town house 0.4% £2,637,500 5.7 1.8
Detached house 0.2% £5,550,000 5.7 6
Land 0.1% £1,550,000 0 0
Parking/garage 0.1% £1,800,000 3 1

Area Information

Average Price Paid

£1,299,843

Sales

3918

Current Average Value

£1,858,095

Value Change

£558,252 42.9%

 

Current Asking Prices in W2 Average: £1,858,095

Property Type 1 Bed 2 Beds 3 Beds 4 Beds 5 Beds
Houses £3,050,417 (12) £1,260,476 (21) £2,237,091 (33) £3,783,000 (30) £4,497,500 (16)
Flats £629,941 (376) £1,101,139 (500) £1,993,751 (207) £2,769,600 (58) £6,056,250 (8)
All £704,801 (388) £1,107,561 (521) £2,027,210 (240) £3,115,077 (88) £5,017,083 (24)

Nearby Properties

1 bed Flat () High Road, London N17 £200,000
1 bed Flat () Warwick Gardens, London N4 £275,000
2 bed Flat () Flat, George Lansbury House, Progress Way, London N22 £270,000
2 bed Flat () Stamford Hill, London N16 £340,000
1 bed Flat () Kimberley Gardens, London N4 £349,995
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