London, SE17 2LH | Investment Property for Sale | VES-SE17-001

Opportunity to purchase an apartment in London generating £17,160 rent pa & gross yield of 4.3%

£400,000

Apartment

VES-SE17-001

INITIAL INVESTMENT

£124,500

Based on

deposit: £100,000

stamp duty: £22,000

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£17,160

GROSS YIELD

4.3%

ADD TO FAVOURITES

Guaranteed rent

A fixed rental income, paid each and every month without all of the normal stresses involved in letting a property.

You still get rent even if the property isn’t tenanted. See property description for more details.

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£10

SERVICE CHARGE

£900

3 bedrooms

1 bathroom

1 reception room

689

Partially Furnished

Leasehold information

  • Length of lease: 125 years
  • Year lease started: 2004
  • Years left on lease: 107 years (from 2022)
  • Ground rent review period: tbc
  • Service charge review period: tbc

Property information

  • Located on the third floor
  • 3 good sized bedrooms
  • 1 kitchen
  • 1 reception room with access to a private balcony
  • 1 bathroom
  • EPC rating D
  • Council tax band C

Rental income

  • The property is let to the local council who manages the tenants
  • Current monthly rental income £1,430
  • The vendor believes a rental yield of 6% is achievable if the property is let to the private market

Recent works carried out

  • A brand new boiler was installed in December 2021
  • A new hob was installed in the summer of 2021
  • The property was repainted and had new carpets laid approximately 3 years ago

Location information

  • The property is located in the London Borough of Southwark
  • Old Kent Road with all its amenities and local shops is a short walk from the property
  • There is a bus stop with 8 regular services which can be reached within 5 minutes
  • Burgess Park with its lake, sports centre and sports pitches is a 10minute walk away
  • Will be 100 metres away from one of the planned extended Bakerloo Line stations, if formally approved

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 London Borough of Southwark, South London

The London Borough (LB) of Southwark is in south London on the River Thames and is the oldest part of south London.

Southwark borders with the City of London and the LB of Tower Hamlets in the north, the LB of Lambeth in the west, the LB of Lewisham to the east and the LB of Bromley in the south.

The borough has very good transport connections with several bridges and tunnels crossing the river Thames, several A-road leading through as well as access to the underground lines for Bakerloo, Jubilee and Northern Line servicing 7 stations. There are also 6 London Overground stations as well as 12 railway stations and 4 Thames Clippers riverbus piers within the borough.

One can find many famous landmarks located within Southwark too including Tower Bridge, Millennium Bridge, London Bridge, The Shard, the Tate Modern art gallery, Shakespeare’s Globe Theatre, the Imperial War Museum, City Hall and Borough Market to name a few.

There are around 610 acres of public parkland in the LB of Southwark which are made up of over 130 green spaces including Dulwich and Southwark Park as well as many sports grounds and squares.

The area is also home to a number of educational establishments such as the London South Bank University with its main site in Elephant and Castle, the University of Arts London which has 2 colleges in the borough. Europe’s largest university teaching hospital King’s College London is also located in Southwark at the Guy’s Hospital site, merging the teach of Guy’s, St Thomas’ and King’s College Hospitals.

Kinglake Estate,

London,

Greater London,

England,

SE17 2LH

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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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