London & Croydon | Investment Property for Sale | VES-CR2-143

Opportunity to purchase a 21-unit portfolio generating £314,064 gross rent pa & 4.2% gross yield

£7,450,000

21-unit portfolio

VES-CR2-143

INITIAL INVESTMENT

£2,271,000

Based on

deposit: £1,862,500

stamp duty: £386,000

mortgage fees: £1,500

conveyancing fees: £21,000

GROSS RENT

£314,064

GROSS YIELD

4.2%

ADD TO FAVOURITES

The portfolio

TENURE

Freehold

NO OF UNITS

21

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

13,750

PRICE SQ FT

£542

Vendor is open to selling individual properties

Portfolio information

  • 21-unit portfolio consisting of:
    • 4 x 3-unit blocks
    • 1 x 8-unit block
    • 1 x 2-bed apartment
  • The properties are broken down as follows:
    • 7 x 1-bed apartments
    • 24 x 2-bed apartments
    • 2 x 3-bed apartments
  • Fully tenanted
  • EPC ratings B, C & D
  • The properties are located in London, Croydon and Purley

Rental income

  • Fully tenanted
  • Current aggregate rental income: £26,172 pcm; £314,064 pa

Available upon request

  • Portfolio breakdown
  • EPCs for all units
  • All floorplans

Note

Please note that Vesta has not visited the properties and that all material has been provided by the vendor.

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 Purley, Croydon & Lewisham

Purley

Purley is an area in the London Borough of Croydon. It is located south of Croydon and around 12 miles south of Charing Cross.

The area is very well connected via the road network and makes Purley ideal for commuters. The A22 leads to East Grinstead and Eastbourne, the A2022 leads to Epsom and Kingston, the A23 to Redhill and Brighton as well as Croydon and Central London.

The town’s railway stations Purley and Purely Oaks are on the London to Brighton railway line and Reedham station is on the Tattenham Corner Line. Gatwick Airport is the closest international airport and lies around 15 miles south of Purley. It can also be reached directly via train from Purley.

The centre of Purley offers various shops, boutiques, cafes, and restaurants. The local leisure centre is also located on the high street and offers a gym, swimming pool and group fitness classes. Other leisure facilities include Purley Downs Golf Club, Cumnor House School Sports Ground and Surrey Health and Racquets Club.

Anyone interested in outdoor pursuits can choose from several spaces such as Purley Beeches, Kenley Common, Farthing Downs and Oaks Park. Purley is home to a number of notable schools including The John Fisher School, Laleham Lea School, Oakwood School, Cumnor House School, Oakwood Prep School and Purley Language College. There are also other schools, nurseries and colleges nearby.

Croydon

Croydon is a large town and borough in the south of London, situated 9.5 miles south of Charing Cross.

This area is serviced by East Croydon Station which is one of the busiest non-terminal stations in London and is managed by Southern. This station offers fantastic transport routes to destinations in Sussex, Surrey and onwards to Brighton, as well as many fast train services in to the City of London and other suburban London destinations. Frequent services are run by Thameslink from Brighton via London Bridge and St Pancras International to Bedford on the London – Gatwick Airport – Brighton Line. Southern runs 10 trains per hour (tph) to London Victoria and 6 tph to London Bridge as well as several services southbound to areas in Sussex. This station also has a Tramlink service that provides routes to destinations within this southern suburban area of greater London.

Croydon is one of the largest commercial districts outside Central London, with an extensive shopping district. This has led it to become considered to be the third main central business district in Greater London. The Whitgift Centre and Centrale shopping centre are the backbone of the shopping strip with plans for a new £1bn Westfield to be built to replace it in the near future. Along the main high street and within the shopping centre one could find a wide selection of stores and boutiques including many well-known household names. This area is also plentiful in restaurants and bars and with the opening of Boxpark in recent years has added to the process of gentrification and breathing new life in to the area.

In the City of London and surrounding areas there are thousands of job opportunities and there are numerous adequate travel options to get you there

Lewisham

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.

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Important Note

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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