Stax,
London
Keys: 9
Tenant: Nationwide operator
Lease terms: 6 years / IRI / Indexed-linked
Use class: Residential (C3)
A brand-new refurbishment comprising nine two-bedroom apartments on London’s Old Kent Road, for which Saxbury identified an established operator.
Following an office-to-residential conversion, these air-conditioned Zone 1 apartments were in need of a custodian. In order to collect high net returns as a passive income, the sole aim was to let the apartments as a collection. As a specialist firm, Saxbury was recommended to the landlord by a separate tenant to run a search and selection campaign.
The units, most of which have balconies, benefit from high-specification kitchens and bathrooms, lockable bike storage and CCTV in the common areas. The apartments are also a short walk from the Elephant Park regeneration area.
Time was of the essence so Saxbury ran a brief off-market campaign which concluded within four weeks with the appointment of an experienced operator from South West England that manages more than 300 units.
If you are a developer or investor with a similar property and would like to know whether it would be suitable for serviced apartment use, contact our expert team.
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