Pierhead Wharf, 69 Wapping High Street, London, E1W 2YF
Forty flats, on a virtual freehold of 999 years from June 1996, paying currently a ground rent of £220 pounds a year each. This lot at Barnard Marcus auction on 7th Feb, 2008 also included rents from four car parking spaces at £100 a year each.
Income of £9,200 a year.
Bidding started at £175,000 and ended at £187,000. The reserve of £200,000 was not met. The yield on £200K would be 4.6%.
