Canonbury, N London, N1 2JU | Investment Property for Sale | VES-N1-001

Opportunity to purchase an apartment in Canonbury generating £34,000 rent pa and a gross yield of 4.5%

£720,000

Apartment

VES-N1-001

INITIAL INVESTMENT

£341,820

GROSS RENT / YIELD

£34,000 / 4.7%

NET RENT / YIELD

£27,014 / 3.8%

The property

TENANCY

Tenanted

TENURE

Share of Freehold

2 bedrooms

1 bathroom

1 reception room

640

Unfurnished

Leasehold details

  • Share of freehold

Market Trends

Sales Trends

  • Prices in N1 have increased 27% over the last 5 years (+2% over the last 12 months) and are £684k which varies by property type (£441k for a 1-bed flat to £2.83m for a 5-bed detached property.

  • On average, there have been 75 properties sold per month in the area in the last 12 months.

  • In comparison, prices in the wider North London N postcode area are £515k (0% over the last 12 months) and range between £373k for a 1-bed flat to £1.69m for a 5-bed detached property.

Rental Trends

  • Rents in N1 are now at £2,160 per month (-6% over the last 12 month).

  • On average, there have been 307 properties listed for rent per month in the area in the last 12 months.

  • Given prices in the area, gross yield is currently 3.8% which is lower than the national average of 4.7% and in line with the wider North London N postcode area of 3.8%.

  • This property is currently achieving a gross yield of 4.7% which 19% above the N1 area.

Source: REalyse - 16/04/2019

Tenancy

RENT

£34,000 p.a. / £2,833 pcm

TENANCY DEPOSIT

£3,300

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

7 months ago

TENANCY AGREEMENT ENDS

8/24/2019

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£34,000

Equivalent of £2,833 per calendar month (PCM).

GROSS RENTAL YIELD

4.7%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£27,014

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.8%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£6,986

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About Canonbury, N London

Canonbury is a residential district in the London Borough of Islington in the north of London. It is roughly in the area between Essex Road, Upper Street and Cross Street and either side of St Paul’s Road.

London is famous for its fantastic transport routes and the location of this property is no exception. The closest station to this property is Canonbury Station, which provides Overground services to several destinations. From this station there are separate services that run to Stratford, Clapham Junction, Crystal Palace (via Canary Wharf) and Richmond. Fortunately, if one was looking for Underground options, Highbury and Islington Station is a 12-minute walk away from this property, which runs on the Victoria line and is just one stop away from King’s Cross St Pancras. Both stations are in Travelcard Zone 2.

Canonbury is an idyllic and quiet neighbourhood and is renowned for its Georgian and early-Victorian style houses and brownstone flats. It has several greens park spaces and is also located close to nearby Highbury Fields. For more lively activities Upper Street is only a 15-minute walk away, where you can find a great range of restaurants and cafes, designer shops, pubs, bars, clubs and theatres.

Canonbury Park North,

London,

London,

Greater London,

England,

N1 2JU

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