London, SE6 3HB | Investment Property for Sale | VES-SE6-003

Opportunity to purchase a HMO property in Lewisham with the potential to generate a 6.5% net yield

£1,397,405

HMO Semi-Detached House

VES-SE6-003

INITIAL INVESTMENT

£477,264

Based on

deposit: £349,351

stamp duty: £125,413

mortgage fees: £1,500

conveyancing fees: £1,000

GROSS RENT

£90,831

GROSS YIELD

6.5%

ADD TO FAVOURITES

The property

TENANCY

Tenanted

TENURE

Freehold

6 bedrooms

6 bathrooms

0

TBC

Fully Furnished

Property information

  • 6-bedroom HMO
  • All bedrooms come with ensuite shower rooms
  • Shared kitchen
  • Communal garden at the rear of the property
  • Shared driveway with neighbouring property
  • EPC ratings: C, D & E; new EPC assessments will be carried out once identified works have been carried out
  • Council tax band A

Rental information

  • A housing provider is ready to sign an FRI lease and move in once any required works are completed
  • Full FRI lease for 25 years
  • The tenant will pay for all maintenance and management costs
  • The rental income will be CPI-linked, and each year is capped at 1-4%
  • It is expected to generate the following net rent in the first year:
    • Monthly rental income: £7,569.25
    • Annual rental income: £90,831
  • The displayed gross rent and gross yield are reflecting the net amounts; we are unable to display net figures at present

Location information

  • Both properties are located in Lewisham in south-East London
  • There are local amenities within walking distance from the property
  • Bellingham railway station is just a 3-minute walk away
  • Both Bellingham Green and the leisure centre are a short walk from the property
  • There are also a number of bus stops nearby

Note

Please note that Vesta has not visited this property and that the vendor has provided all material.

Please note that the pictures are not of the actual property but represent a previously completed property from the same vendor. They are for illustrative purposes only and to show the level of quality this property will be finished. The floorplans do represent the property.

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.

Randlesdown Road,

London,

Greater London,

England,

SE6 3HB

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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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