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Serviced apartment group to sell £6.75m City site

Clarendon Apartments is selling 140 Minories, a 14-serviced apartment site in the City of London, via Savills, with a price tag of £6.75m.

The freehold serviced apartment building provides 13 one-bed and 1 two-bed apartments and benefits from Suis Generis planning use class.

The well-sized apartments are finished to a high standard and located between London Fenchurch Street and Aldgate Underground Station. The ground floor retail unit and the basement floor are on a long 999-year lease.

The asset is offered free of brand and management ties.

James Laskowski, surveyor in the hotel investment team at Savills, said, “This is an exciting opportunity to acquire a prominent freehold serviced apartment building in the City of London, benefitting from an abundance of nearby transport links and with potential to extend subject to the necessary consents.

'The business has traded exceptionally well over the last few years, offering investors a chance to obtain this asset at an attractive yield.”