Knight Frank is launching a prime residential investment opportunity in the heart of Hampstead, London. The luxury apartment block comprising 21 high-end units, has been brought to market for £20m.
The property, located at 38 Heath Drive, is a freehold detached residential building situated on a 0.38-acre site in one of London’s most desirable areas. Developed in 2017, the property holds 21 luxury apartments with a total of 22,112 square feet, spread across six floors.
The asset offers a mix of one, two, and three-bedroom apartments, including five duplex units. All apartments boast high specifications and EPC B ratings throughout.
The building is currently fully let, generating an annual income of £943,541 with an Estimated Rental Price exceeding £1m per annum.
The agency says the building has demonstrated significant rental growth over the past three years, with income increasing from approximately £810,000 to over £940,000 per annum. It also boasts a high tenant retention rate, with over half of the current occupants having resided for two years or more.
A Residential Investment team spokesperson at Knight Frank says: “This opportunity represents a rare chance to acquire an unbroken freehold block in one of London’s most sought-after locations. The property’s strong rental performance and potential for further growth, make it an attractive proposition for investors looking to capitalise on the robust demand for high-quality residential assets.
“Due to Hampstead’s village-like atmosphere, proximity to Hampstead Heath and excellent transport links, Hampstead continues to attract not only investors, but both domestic and international residents too.”
Heath Drive offers strong connectivity to central London, with a variety of transport options within walking distance. Residents can access the Northern line at Hampstead Station, the Overground at Finchley Road & Frognal Station, the Jubilee and Metropolitan lines at Finchley Road Station, and the Jubilee, Thameslink, and Overground lines at West Hampstead Stations.
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