Wood Green

Year of purchase

March 2011

Cost of purchase and re-development

£1.3m

Fair Value (December 2020)

£3.2m

Current rent per year

Commercial £12,000 / Residential £102,600

3 year average gross rental yield

15.3% on capital investment

Background

Property bought as a single property, combining a shop and a warehouse behind it. Upon purchase, the warehouse was demolished and 6 houses were built in its place. The shop was renovated and 2 flats were built on top. The 2 flats were sold in 2013 for £394K (allocated cost £319K). The shop and 6 houses were kept in the portfolio as part of the value strategy due to the competitive rental yield produced.

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