BTL Deals of the Week #15 - including the landmark Sivill House with incredible views over the London skyline!
Looking for a quality investment can be a bit overwhelming. That's why in this week's Buy To Let Deals video, Kristjan is breaking it down for us by reviewing three listings, all in different price ranges: up to £500k, £500-750k, and £750-1m. So, whether you're a first-time investor or a seasoned pro, you'll find something that fits your budget.
The first in this week’s roundup is a two-bed property situated on the 15th floor of a renowned landmark building, which could benefit from some cosmetic refurbishments and has 91 years that are remaining on the lease. The second is a stylish and generously-sized three-bed property with private parking, and the third is a freehold house with five bedrooms and a 30 ft garden. All three properties have the potential to generate a strong and continuous rental income for the investor. These properties are an excellent way to diversify an existing portfolio or start off a new one. With the right approach, these properties could be a great source of rental income and a valuable asset to any investor.
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Up to £500k
Located on the 15th floor of the landmark Sivill House is this two-bed property on the market at offers over £425k. The property could benefit from a cosmetic refurbishment to bring it up to date with current design trends. Once done, it could potentially achieve a rental income of at least £2100 per month, or even as high as £2250, providing a strong return. One issue to note is the lease, which has just 91 years remaining. This should ideally be addressed during the purchase, by reinstating it to at least 125 years. It is therefore important to factor this cost into any offers made. The building has recently undergone major communal works, both externally and internally, so it is in great condition and no major works should be required in the near future. However, it is important to ensure there is a clear discussion as to what bills are in the pipeline and who is paying for them. Typically, these would be met by the vendor.
This beautifully modern 3 bed in Greenwich offers stylish and spacious living in a 3 bed which measures over 1000 sq ft, benefits from private parking and is spread over the 3rd & 4th floors. The agent does not state the lease length, ground rent & service charges, so you must establish these prior to any viewings or offers. I would expect to see this property achieve £3k per month in rent- possibly more with the parking to leverage as well. A turnkey property that looks like it won’t need much more than furnishing- and you may not even need that!
This 1400 sq ft 5-bedroom freehold house is located in Walthamstow with a 30 ft garden. The property has a double reception and looks to be in excellent cosmetic order and would therefore make a great rental property for a family or listed as an HMO (subject to applicable licensing etc). I would expect to see a property like this achieve over £4k per month and, likely, closer to £4500+ if marketed correctly. Freehold houses are always great as you have no lease to concern yourself with and no Ground Rent or Service Charge costs to meet.