London, SE13 7NL | Investment Property for Sale | VES-SE13-001

Opportunity to purchase a tenanted block in London generating £169,800 rent pa & gross yield of 5.7%

£3,000,000

8 unit Block

VES-SE13-001

INITIAL INVESTMENT

£919,500

Based on

deposit: £750,000

stamp duty: £160,000

mortgage fees: £1,500

conveyancing fees: £8,000

GROSS RENT

£169,800

GROSS YIELD

5.7%

ADD TO FAVOURITES

Sold STC

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The block

TENURE

Freehold

NO OF UNITS

8

TENANCY STATUS

Tenanted

FURNISHED

Yes

TOTAL SQ FT

5,143

PRICE SQ FT

£583

Block information

  • Fully refurbished and extended former pub
  • Spread over 5 floors
  • 6 x 1-bed apartments
  • 2 x multi-let/HMO units, comprising of
    • 8 bedrooms
    • 2 studios
  • EPC ratings D & E
  • All EPCs are available upon request

Block breakdown

  • Flat 1 - 55 sqm - Fully let - £1,200 pcm
  • Flat 2 - 51 sqm - Fully let - £1,200 pcm
  • Flat 3 - 38 sqm - Fully let - £1,200 pcm
  • Flat 4 - 51 sqm - Fully let - £1,000 pcm
  • Flat 5 - 32.82 sqm - Fully let - £1,200 pcm
  • Flat 6 - 36.7 sqm - Fully let - £1,200 pcm
  • Multi let unit 1 - 90 sqm - Fully let - £3,600 pcm
  • Multi let unit 2 - 90 sqm - Fully let - £3,550 pcm

Tenancy information

  • Fully let on standard ASTs
  • Consistent 100% occupancy and very low tenant turnover
  • Tenants are handpicked and respectful working professionals

Location information

  • 1-minute walk to mainline DLR station Elverson Road
  • Direct links to Lewisham, Canary Wharf and the City
  • 5-minute walk of Lewisham centre
  • 4-minute walk of Lewisham train station, with direct links to London Bridge and the City

Note from the vendor

The conversion of existing was an enjoyable process as the existing Victorian structure was so well built and solid. Many of the existing sash windows were retained, the original oak floor refurbished and reused in the top floor units. Inside the property is a modern layout of generous rooms with modern long-lasting materials. The exterior was sympathetically restored, keeping the Victorian glazed tiles and signage. It was nice to maintain some traditional London history.

Note

Please note that Vesta has not visited this property 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 Lewisham, SE London

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.

Lewisham Road,

London,

Greater London,

England,

SE13 7NL

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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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