stamp duty: £46,000
mortgage fees: £1,500
conveyancing fees: £1,000
Newly converted 6-bed fully licensed HMO in the attractive borough of Lewisham, SE London, achieving above market gross yield of 7.71%.
Ideally located within walking distance to Catford (400m / 4 mins) and Catford Bridge (500m / 5 mins) train stations, this is a great location for commuters. Local amenities includes Tesco, Sainsbury's, Aldi and Iceland. There is a range of local restaurants and bars in the area also.
Fully licenced 6-bed HMO
Licence expires 21/06/2023
Property has been extended to include a loft conversion and made into a 6-bed HMO
All 6-bedrooms are en-suite
All bills and a cleaner included in the rent
Tenants are professionals (full-time employed)
Achieving £4,500 pcm / £54,000 pa
Room A - Rent: £700 / Let since: 01/08/18
Room B - Rent: £750 / Let since: 01/08/18
Room C - Rent: £750 / Let since: 01/08/18
Room D - Rent: £800/ Let since: 01/09/18
Room E - Rent: £700 / Let since: 13/09/18
Room F - Rent: £800 / Let since: 01/08/19
Whilst the displayed financials below are market averages, these are the running costs provided by the landlord:
£54,000 p.a. / £4,500 pcm
TENANCY AGREEMENT STARTED
22 months ago
TENANCY AGREEMENT ENDS
Documents available on request, please contact for viewings or further questions.
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Lewisham is an area of south east London includes Deptford, Catford, New Cross, Blackheath and Forest Hill.
Lewisham is located 5.9 miles (9.5 km) south of Charing Cross. The area is identified in the London Plan as one of 35 major centres in Greater London and plans to create a metropolitan centre to rival nearby Bromley and Croydon. Lewisham is undergoing a period of significant regeneration, creating new high quality business space and environments.
Lewisham is the fourth largest inner London Borough with a population of 282,000 and a working age population of 197,000. The economy of Lewisham has developed through the wider London economy and over 100,000 commute out of the borough every day into the city.
Lewisham is an affordable place to live, with quality amenities and good transport links. Lewisham’s workers are highly skilled, with almost four in ten adults educated to degree level and a high percentage working in knowledge industries. A large number of residents are self-employed or run micro business that provide services to central London.
The area is a major local transport hub, lying on the A20 road towards Dover and at the start of A21 to Hastings, with its own large bus station, railway station and the southern terminus of the Docklands Light Railway. London Underground lines run into the north of the borough at New Cross station and New Cross Gate station as part of the East London Line. Lewisham is served by Catford and Catford Bridge railway stations.
The average property price is £481,226 (18% below the London average of £591,258). The average sold price has increased 4.03% over the last year. New research looking at the highest levels of tenant demand found that Lewisham was the only inner borough in London to make the top ten with rental demand at 33% (VeriSmart, 2019).
The vision for the borough is that in ten years’ time Lewisham will be one of the fastest growing parts of the London economy making it an exciting time for the borough.
Ravensbourne Park Crescent,
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