Residential Land has put Peony Court in Chelsea, SW10, on sale with an asking price of £40m – reflecting a yield of 3.35%.
Peony Court, which overlooks Park Walk near King’s Road, includes seven three- and four-bedroom townhouses, 12 flats and 1,136 sq ft of retail space let to a boutique photography gallery. Planning permission has also been granted for an 840 sq ft penthouse apartment on the existing property.
The site’s annual rental value is £1.3m.
Residential Land said the sale is part of its strategy to release capital and invest in assets it believes has opportunities to generate growth. It expects to invest £500m in new-build residential assets in central London this year.
Bruce Ritchie, chief executive and founder of Residential Land, said: “Peony Court offers a rare opportunity to own, freehold, a slice of Chelsea delivering an attractive investment with an annual rental value of £1.3m.
“Prime central London has an undeniable elegance and with the pound deflated against the dollar, Peony Court offers a profitable and unique investment opportunity.”
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