London, SE6 3RD | Investment Property for Sale | VES-SE6-002

Opportunity to purchase a 8-unit block in London generating £130,800 gross rent pa & 4.1% gross yield

£3,210,000

8-unit block

VES-SE6-002

INITIAL INVESTMENT

£908,300

Based on

deposit: £802,500

stamp duty: £96,300

mortgage fees: £1,500

conveyancing fees: £8,000

GROSS RENT

£130,800

GROSS YIELD

4.1%

ADD TO FAVOURITES

The block

TENURE

Freehold

NO OF UNITS

8

TENANCY STATUS

Tenanted

FURNISHED

No

TOTAL SQ FT

5,335

PRICE SQ FT

£602

Please note that this property is also part of a bigger portfolio sale

Block information

  • Spread over 3 floors
  • The block is brand new and works were completed in May 2020
  • Comprising of:
    • 2 x 1-bed / 1-bath apartments
    • 5 x 2-bed / 1-bath apartments
    • 1 x 3-bed / 1-bath apartment
  • Flat 1, 2 & 3 come with their own private gardens
  • The other apartments come with private balconies
  • EPC rating B

Rental information

  • Flat 1 - 3-bed - 950 sq ft - £1,625 pcm
  • Flat 2 - 2-bed - 775 sq ft - £1,475 pcm
  • Flat 3 - 1-bed - 640 sq ft - £1,250 pcm
  • Flat 4 - 2-bed - 580 sq ft - £1,375 pcm
  • Flat 5 - 2-bed - 670 sq ft - £1,425 pcm
  • Flat 6 - 2-bed - 550 sq ft - £1,250 pcm
  • Flat 7 - 1-bed - 500 sq ft - £1,100 pcm
  • Flat 8 - 2-bed - 670 sq ft - £1,400 pcm
  • Total rental income pcm: £10,900
  • Total rental income pa: £130,800

Available upon request

  • EPCs for all units
  • Block breakdown

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.

Dunfield Road,

London,

Greater London,

England,

SE6 3RD

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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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