West Wickham, BR4 0NH | Investment Property for Sale | VES-BR4-001

Opportunity to purchase an apartment in West Wickham generating £11,520 rent pa and a gross yield of 4.2%

£275,000

Apartment

VES-BR4-001

INITIAL INVESTMENT

£125,550

GROSS RENT / YIELD

£11,520 / 4.2%

NET RENT / YIELD

£8,747 / 3.2%

Long-term tenant

Tenants that stay for long periods feel they have a stake in the property and are more likely to treat it as though it was theirs.

Benefits include:

  • Steady income
  • Minimised wear and tear
  • Fewer void periods

The property

TENANCY

Tenanted

TENURE

Leasehold

GROUND RENT

£75

4 bedrooms

1 bathroom

1 reception room

860

Unfurnished

Leasehold information:

  • Service charge: NIL
  • Length of lease: 189 years
  • Start of lease: 1983

Property information:

  • long-term tenants in situ since 2006
  • the property has been refurbished by the landlord over the years, starting in 2010, and the following works were carried out:
    • re-roofing
    • re-plumbing
    • re-wiring
    • replaced the kitchen
    • replaced the bathroom
    • renewed the heating system
    • fitted a new gas boiler
    • windows
    • front door
  • the flat is located above commercial premises
  • EPC band C

Tenancy

RENT

£11,520 p.a. / £960 pcm

TENANCY DEPOSIT

£900

TENANCY TYPE

AST

TENANCY AGREEMENT STARTED

over 13 years ago

TENANCY AGREEMENT ENDS

Periodic

Floorplans

Documents available on request, please contact for viewings or further questions.

The information relating to the property is supplied by the vendor and the latest available at the date of listing.

Certain information may expire or become inaccurate over time and should be verified by the purchaser’s solicitor.

Financials

Rental Income

GROSS RENT PER ANNUM

£11,520

Equivalent of £960 per calendar month (PCM).

GROSS RENTAL YIELD

4.2%

Gross rent per annum divided by the purchase price.

NET RENT PER ANNUM

£8,747

Gross rent per annum minus fully managed operating costs.

NET RENTAL YIELD

3.2%

Gross rent per annum minus fully managed operating costs divided by the purchase price.

FULLY MANAGED OPERATING COSTS

£2,773

The total estimated sum of expenses calculated annually assuming a fully managed service.

Click to understand assumptions.

Disclaimer

This information is for illustration purposes only and does not constitute advice. It is correct at the time of writing. For advice specific to your personal circumstances, please speak to a financial adviser.

About West Wickham, Kent

West Wickham is located in the London Borough of Bromley in South East London and lies around 10.3 miles south east of Charing Cross. Its railway station is operated by Southeastern and is served by the Hayes line trains. Trains go northbound to Cannon Street, Ladywell then fast onto Waterloo East and Charing Cross and southbound to Hayes.

West Wickham’s close proximity to both Bromley (3.6 miles) and Croydon (4.2 miles) makes it an ideal location to commute to either towns for work or leisure.

Bromley town centre was one of the major metropolitan centres identified in the London Plan, it is home to a large retail area, that includes a pedestrianised High Street and the main shopping mall The Glades. The Glades is filled with various familiar high street brands and in the surrounding areas there’s a wide selection of restaurants, bars and pubs.

Croydon is one of the largest commercial districts outside Central London, with an extensive shopping district. This has led it to become considered to be the third main central business district in Greater London. The Whitgift Centre and Centrale shopping centre are the backbone of the shopping strip with plans for a new £1bn Westfield to be built to replace it in the near future. Along the main high street and within the shopping centre one could find a wide selection of stores and boutiques including many well-known household names. This area is also plentiful in restaurants and bars and with the opening of Boxpark in recent years has added to the process of gentrification and breathing new life in to the area.

High Street,

West Wickham,

Greater London,

England,

BR4 0NH

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