A Bahraini investor has bought a serviced apartment block in Limehouse, E14.
The private buyer paid Redab Properties £5.5m – a 6.16% yield – for Max House on Commercial Road, which comprises 18 flats.
It is let to Max Apartments until June 2018 and generates rental income of £334,432 pa, increasing annually by 3%.
Crossland Otter Hunt represented the vendor; BNP Paribas Real Estate acted for the buyer.
joanna.bourke@estatesgazette.com
