BTL Deals of the Week #16 - with a new build one-bed in East London for under 300k!
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.
In this week's property roundup, we have three potential investment opportunities for you. The first is a spacious one-bed new build apartment with over 200 years remaining on the lease and service charges and ground rent totaling around £1600 per annum. The second is a three-bed semi-detached house with a private garden, located in Royal Victoria Docks, close to excellent transport links, with a Share of Freehold and a lease of 172 years. The third is a charming and practical five-bed period house in Leyton, with no lease concerns or associated costs as it is freehold. With a fresh coat of paint and some furniture, this property could be rented out for around £4,000 per month. All three properties have the potential to generate a strong and continuous rental income for the investor and would be a valuable asset to any portfolio.
Up to £500k
Huge 1 bed measuring over 800 sq ft in a new build development! The lease has well over 200 years remaining and costs (service charges & ground rent) come in at around £1600 per annum. From the photos, it looks like all it will need is furnishing and possibly a fresh lick of paint. Would expect this to achieve in the region of £1400-1500 per month.
This 3-bedroom semi-detached house in Royal Victoria Docks has everything most renters could ask for, including a private garden laid as a patio for low maintenance and entertaining. Located by the docks, residents have easy access to the O2 in Greenwich and the surrounding area via the nearby cable car, great transport links, and Stratford with Westfield and the Olympic park nearby. If marketed correctly, this property could rent for around £2750pm. You could potentially explore losing the internal garage and reworking the layout to make the ground floor a great living space with access to the garden and increase the property to 4 bedrooms (2 on each floor) potentially with a 3rd bedroom (or at least WC) which should see the income potential grow to around £3500 or more if done correctly. The property is Share of Freehold, typically meaning no Ground Rent and low service charges at just £740 a year (likely for buildings insurance and a small estate contribution). The underlying lease has a generous 172 years remaining.
This spacious and charming 5-bedroom period house in Leyton would make a fantastic buy-to-let investment (subject to applicable HMO licensing laws locally). The property measures over 1600 sq ft across 3 floors and boasts 2 reception rooms, a large kitchen/diner leading to a private garden that is half laid to patio. The upper 2 floors house 5 double bedrooms, with a bathroom and shower room accessible from the landings, and an extra WC on the ground floor. The property is practical for both sharers and families. Being freehold, there are no lease concerns or associated costs to worry about. A fresh coat of paint and some furniture should suffice to rent out the property for around £4,000 per month or more.