1-Bedroom Flat in South London
The Numbers:
Purchased: 2017 for long-term rental
Total acquisition cost:* £480,000
Initial rent: £1750pcm
Reversionary rent: £2250pcm
Net initial yield**: 3.6%
Net reversionary yield: 4.7%
* includes stamp duty, survey, mortgage arrangement fees, searches, conveyancing, cosmetic upgrade and all furnishing for letting out
** from rental income after deductions for agency fees, boiler maintenance, safety certificates, insurance and a sink fund
In Brief:
This is a safe rental investment in South West London is on a highly desirable street. Whilst rental yields are low at around c.4% pa, capital growth will be better than some higher yielding counterparts. A good buy to hold onto for 5 years+ before disposing to achieve a decent capital gain.
Services provided: Consultancy, Search and Find, Property Enhancement, Property Staging, Tenant Search and Letting and Property Management.
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This property had previously been rented out by a UK landlord and was tired when purchased. It is smaller than other one bedroom rental properties available on the market so the challenge was to maximise every square foot. We redecorated it throughout, fitted new carpets, replaced the beige curtains with Thibaut Solis turquoise curtains (these really ‘pop’ in marketing photos) and added stylish wall lights. Wall mounted accessories and other clever features helped maximise space. The flat has been successfully rented out without a void period since purchase.
