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Lanterns Court, 20 Lanterns Way, Canary Wharf, London E14 9JL

A fully income producing residential investment comprising 20 private apartments within a high quality established scheme in Canary Wharf, London E14.

  • Situated within the heart of Canary Wharf’s Millenium Quarter.
  • Mix includes 2 x studios, 17 x 1-beds and 1 x 2-bed.
  • Total NSA of 8,711 sq ft (809.28 sq m).
  • All 20 units are let on standard 12-month AST agreements.
  • The apartments have seen considerable rental growth over the last 2 years at around 23%, proving the high demand and desirability to live here from tenants.
  • Total gross income of £393,051 per annum.
  • Total net income of £342,380 per annum, after the deduction of the annual service charge and ground rent.

Offers are sought in excess of £6,250,000 (Six Million Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT reflecting £717 per sq ft overall.

A purchase at this level represents an attractive gross yield of 6.29% and a 19% discount to OMV with the properties total break-up value being £7,710,000 reflecting £885 per sq ft.