Innovation House
Prime Freehold Block of 22 Flats with Development Land
Rental Income: £609,000 p.a. | Development Potential: 20–25 Flats
✨ Summary
Innovation House presents a premium investment opportunity in the heart of Isleworth, near the affluent area of Richmond. This freehold property comprises 22 high-specification residential flats, with two additional rear plots—one commercial unit and one car park—with planning permission in place for conversion to residential. With a total current rent roll of £609,000 p.a. (including £97,000 from commercial and £18,000 telephone mast income), and further development upside, this is a rare asset in a strong rental location.
🏢 Property Features
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Freehold block of 22 modern flats
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Total floor area across flats: 13,756 sq ft
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Current combined rent roll: £609,000 p.a.
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Flats: £454,000 p.a. (rising to £511,000)
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Commercial: £97,000 p.a.
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Telephone mast: £18,000–£20,000 p.a. (lease in progress)
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Flats include a mix of 1-bed, 2-bed, and studio units
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Many flats recently let under guaranteed rent agreements
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Excellent tenant demand due to proximity to Richmond
🚧 Development Potential
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Rear commercial building with planning permission (expected Jan 2025)
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Estimated capacity: 20–25 additional residential flats
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Rear land includes a car park and commercial structure for demolition
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Planning granted under permitted development
📍 Location
292 Worton Road, Isleworth, TW7 6EE
Located minutes from Richmond and well connected to Central London, this vibrant area benefits from strong tenant demand, green spaces, and regeneration. Excellent transport links and local amenities make this a highly desirable residential zone.
💷 Financial Snapshot
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Total Current Rent: £609,000 per annum
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Market Rent Potential: £630,000+ per annum with uplifts
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Telephone Mast Lease: Additional £18k–£20k per annum
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Development Yield: Significant uplift potential through additional flats
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Asking Price: Offers in Excess of £12,000,000
📌 Highlights at a Glance
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Fully tenanted with no voids
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New guaranteed rent agreements increasing yield
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Planning permission for further flats underway
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Strategic location near high-value Richmond area
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Turnkey investment with upside potential
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