London, SE10 8PD | Investment Property for Sale | VES-SE10-002

Opportunity to purchase a freehold block in London generating £128,340 rent pa & gross yield of 8.3%

£1,550,000

HMO Block

VES-SE10-002

INITIAL INVESTMENT

£486,000

Based on

deposit: £387,500

stamp duty: £94,000

mortgage fees: £1,500

conveyancing fees: £3,000

GROSS RENT

£128,340

GROSS YIELD

8.3%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

3

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

4,497

PRICE SQ FT

£345

Block information

  • The block is made up of 3 units comprising:
    • 1 x 12-bed HMO
    • 1 x 1-bed annex
    • 1 x studio apartment
    • 1 x 1-bed maisonette
  • 3 bedrooms have their own bathroom and kitchen
  • All other tenants share facilities
  • Large rear garden which can be accessed by all tenants
  • EPC ratings D & E

Rental information

  • All bedrooms are let at the time of listing
  • Aggregate monthly rental income £10,695
  • Aggregate annual rental income £128,340
  • Aggregate gross yield 8.1%

Running costs

The vendor provided us with the following running costs for the block:

  • Council tax: £328 pcm
  • Water: £188 pcm
  • Virgin Media: £119.50 pcm
  • Business gas: £450 pcm
  • Business electricity: £450 pcm
  • Chris Lewis fire: £166 pcm
  • Council tax: £204 pcm
  • Total cost pcm: £1,905.50
  • Total cost pa: £22,866

Other running costs which are optional/may vary for the new owner:

  • General maintenance: £360 pcm
  • Insurance: £377 pcm
  • Gardening: £120 pcm
  • Cleaning: £144 pcm
  • Total cost pcm: £641
  • Total cost pa: £7,692

Available upon request

  • Block breakdown
  • Floorplan
  • EPCs
  • Video walkthrough

Location information

  • The property is located in the Deals Gateway area in Greenwich
  • Deptford Bridge Overland and DLR stop is less than a 10-minute walk from the property
  • Both Blackheath and Greenwich can easily be reached by public transport or on foot
  • Easy access to the A2 and the wider road network

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 Greenwich, London

Greenwich is a town in south-east London in the Royal Borough of Greenwich. It lies around 5.5 miles south-east of Charing Cross.

The area is very well connected by public transport offering a number of options to get around. There are two railway stations, Greenwich and Maze Hill which offer Southeastern services to London Cannon Street, Dartford, Barnehurst and Crayford and Thameslink services to Luton via London Blackfriars and to Rainham.

Docklands Light Railway has two stops, Cutty Sark and Greenwich, both connecting to the Docklands and the City. There is also a London Underground station at North Greenwich with Jubilee Line services running to Stanmore and Stratford. Canary Wharf can be reached within 2 minutes this way.

Its riverside location also means that there are a number of river boat services with stops at Cutty Sark and North Greenwich providing services to Canary Wharf, Blackfriars, London Bridge and Embankment. There are also tourist cruise services going via Westminster, Waterloo and Tower piers.

The National Cycle Network Route 1 also goes through Greenwich and the river can be crossed via the Greenwich Foot Tunnel, which runs underneath the Thames to the Isle of Dogs. There are also several bus services that connect Greenwich to the rest of the city.

Greenwich is home to a number of well-known attractions such as the Greenwich Royal Observatory, from which the world’s first weather forecast was issued in 1848, the Peter Harrison Planetarium, Ranger’s House and the Prime Meridian line, a UNESCO World Heritage Site. Other attractions are strongly connected with Greenwich’s naval heritage and include the National Maritime Museum, the Cutty Sark and the Old Royal Naval College.

Greenwich is also famed for its antiques market which today also includes stalls selling clothes, jewellery, home-made produce and food. Other shopping destinations are the Millennium Leisure Park, just outside of the town centre, and the ICON Outlet at the O2.

One is spoilt for choice for going out with a variety of cafes, bars, pubs and restaurants offering anything from a traditional pub lunch to afternoon tea to a glass of wine by the river. Greenwich Theater offers a year-round programme for the whole family, whilst two cinemas show the latest blockbusters as well as arthouse movies. The M1 Fine Art gallery showcases exhibitions and work by local artists and the Fan Museum exhibits fans from the 11th century to today.

Education in Greenwich is provided by several primary and secondary schools, as well as some free schools. The University of Greenwich’s main campus is located at the Old Royal Naval College and it’s courses include architecture, maritime studies, natural sciences, mathematics and engineering to name a few.

Blackheath Road,

London,

Greater London,

England,

SE10 8PD

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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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