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Central London Serviced Apartments Business For Sale

Kensington, London
Asking Price:
£225,000 Furniture / Fixtures included
Turnover:
£110,000
Net Profit:
£70,000

A 5- star block of three serviced apartments available for sale in Kensington and Chelsea. Apartments are one-bedroom apartments (about 40 sqm each) with open plan kitchen and seperate bathroom/toilet; each apartment accomodates up to four guests/tenants at a time. Facilities include Wi-Fi internet connection, digital TV's, Tea/Coffee making facilities, fresh linen for guests and digital check-in/check-out systems.

Currently operating as short-lets but will be more suitable for company lets or long term lets, rated 5-Star rated with almost 200 review (8.8/10) on booking.com and 5-Stars on airbnb with 90% occupancy. Recently undergone a full refurbishment and finished to extremely high standards.Short walking distance to tube station (district, circle, hammersmith and city lines), less than 10 minutes by train to Paddington and about 25 minute drive from Heathrow airport.

Building is on a 20 year lease with 15 years remaining. The busines is currently turning over is around £110,000 per year, rent is currently £34,000 per year and other fixed costs are around £6,000 per year. This is an incredibly rare opportunity to acquire a well established, profitable business that can suit a hands on or hands off approach. This is a confidential sale and as such non-disclosure agreements and proof of purchase will be required before discussions or viewings can be arranged.

The business is owned by a company and the main shareholder has relocated and would like to make this available on the open market. Please, serious enquires only.

Property information

Property:

Leasehold

Leasehold Rent:

£34,000 per annum

Location:

Portobello Road in the borough of Kensington and Chelsea

Premises Details:

Converted Victorian Building consisting of 3, one bedroom serviced apartments

Energy Performance Rating:
E

Business Operation

Competition / Market:

No competition in the area

Reasons for selling:

Main shareholder currently lives abroad.

Trading hours:

24 hours

Employees:
0
Years established:
5

Other Information

Furniture / Fixtures value:
£100,000 - included in the asking price

Contact Information

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