A European property investment manager is selling a £6m residential development opportunity in London’s Fulham this month at auction.
Valad Europe will offer 5,313 sq ft office-led building Fairfax House, North End Road, SW6, with a £1.9m guide price at the Savills auction in the capital on 28 October.
The sale will come four months after Valad Europe secured planning permission from Hammersmith & Fulham council to convert the property into six flats of one and two bedrooms.
Based on Foxton’s calculation that the average flat price in Fulham is currently £949,719, the building would have an estimated end development value of around £6m.
It generates £86,375 pa with vacant possession on the upper floors from January 2015.
It is one of 203 residential-led lots that will be offered, of which the bulk are located in London and the South East.
Other buildings that will be offered include 113 Studdridge Street, SW6, comprising two flats. It has a guide of £1.3m.
The auction will take place at the Marriott Hotel, W1.
