Chatham, ME4 6TU | Investment Property for Sale | VES-ME4-001

Opportunity to purchase an apartment in Chatham with the potential to generate £8,400 rent pa

£145,000

Apartment

VES-ME4-001

INITIAL INVESTMENT

£43,500

Based on

deposit: £36,250

stamp duty: £4,750

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£8,400

GROSS YIELD

5.8%

ADD TO FAVOURITES

The property

TENANCY

Vacant

TENURE

Leasehold

GROUND RENT

£200

SERVICE CHARGE

£400

1 bedroom

1 bathroom

1 reception room

431

Unfurnished

Leasehold information

  • Length of lease: 99 years
  • Year lease started: 2004
  • 82 years left on the lease (lease extension is available and can be agreed as part of the purchase price negotiations. For guidance the estimated renewal cost is circa £7,000 (TBC)).

Property information

  • Located on the ground floor
  • Comprising of:
    • Good-sized lounge
    • Bedroom
    • Kitchen
    • Bathroom
  • There is parking with permit on the road, costing £40 per year for 2 resident permits. Daily visitor parking permits are available too.
  • EPC rating C
  • Expected monthly rental income £675 - £700 pcm; as advised by local agent 6 months ago

Location information

  • The property is 0.4 miles from Chatham railway station which can be reached in less than 10-minutes on foot.
  • Chatham town centre is just a little further on from the railway station and can also be easily reached on foot
  • The nearby green spaces are Victoria Gardens and Jackson's Fields

Note

Please note that Vesta has not visited this property and that the vendor has provided all material. The photos show the property both unfurnished and furnished.

Floorplans

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

The information relating to this property is supplied by the vendor and was the latest available information at the time of listing. Certain information may expire or become inaccurate over time.

Vesta makes no warranty as to the accuracy or completeness of the property listing or any associated information. All information should be reviewed by the purchaser and their solicitor.

About Chatham, Kent

Chatham is a town in North Kent on the River Medway. It lies around 8 miles north of Maidstone, 9 miles south-east of Gravesend, 29 miles west of Canterbury and 34 miles east of central London.

The A2 runs through the town connecting it all the way to Dover and central London. The M2 motorway also runs south of Chatham providing an alternative route to the Port of Dover and also provides access to the Medway Towns, Sittingbourne and Faversham.

Chatham railway station lies on the Chatham Main Line with train services operated by Southeastern and Thameslink. There are high speed trains to London St Pancras via Gravesend, London St Pancras via Ramsgate, Dover Priory and Ashford Internal, and Faversham. The mainline trains go to London Victoria, Ramsgate and Dover Priory via Canterbury East.

Some of the local attractions include The Historic Dockyard Chatham, Rochester Castle, Rochester Cathedral, Fort Amherst Heritage Trust, Royal Engineers Museum, Guildhall Museum, Upnor Castle, Huguenot Museum and Restoration House to name a few.

The High Street in Chatham offers an array of the different retailers, from bakeries to antique stores, clothes and gifts shops, whilst the Pentagon Shopping Centre is home to 70 shops including a supermarket, bowling alley and food outlets. Just a little outside the town centre the Dockside Outlet Shopping Centre offers further shopping opportunities.

The local economy used to be mainly centred around the Royal Navy Dockyards, but since it’s closure in the 80’s this has shifted. The largest employer in Chatham is now Vanquis Bank Ltd, which is a subsidiary of Provident Financial. Others include the NHS, MidKent College and the University of Greenwich as well as the University of Kent. With its proximity and good transport links to London and nearby towns Chatham is also an ideal commuter town.

Boundary Road,

Chatham,

Medway,

England,

ME4 6TU

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All information contained in this website is provided as a guideline only, is based on estimates and assumptions, may not be accurate or complete, and is subject to change. We make no representations or warranties with regards to this information, expressed or otherwise. A buyer who relies on such information does so at their own risk. Buyers are advised to seek independent financial advice and should undertake their own due diligence.

Your capital is at risk. Property values may decline and the property might not be able to be rented at amounts sufficient to cover debt interest costs, operating expenses and liabilities, and might not result in a positive cash flow. Property is an illiquid asset and should not be viewed as a short-term investment.

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