BTL Deals of the Week #5 - featuring 3 modern properties ready to let!
Scouring the market for quality investments can be daunting and, at times, overwhelming. In this week's Buy To Let Deals video, Kristjan reviews three listings, one for each of the price brackets set out: up to £500k, £500-750k, and £750-1m. The first property is a two-bed duplex overlooking Mile End park and the Regent’s Canal. Our remaining two properties are both three-beds - one in Camberwell listed at just £550k, and the other in the highly desirable Haggerston.
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Up to £500k
2-bed duplex apartment overlooking Regents Canal & Mile End Park. This property has been recently refurbished and is therefore ready to go. The location offers great transport & amenities and ExLA properties usually tick several boxes- big windows, decent-sized rooms & good storage- all things that make tenants very happy! The remaining lease is not disclosed so this is the main point to check to ensure this is ideally 100+ years. However, I’d expect this property to rent for £2k per month so call WJ Meade now.
I was blown away by this newly refurbished period property in Camberwell offering 3 bedrooms for just £550k (okay, ‘offers over’ but I have to go by the list price). Admittedly it is on the small side for a 3-bed property at 835 sq.ft but would surely appeal to those wanting a 2-bedroom property with a 3rd room for a bona fide home office- or maybe a couple who both work from home! Either way, I can’t see this renting for less than £2250 pm and potentially £2400-2500 which is a phenomenal return for a London rental investment that is ‘turn key’ ready. Again, no lease length info or (on this occasion) Ground Rent & Service Charge data- so this would be the first thing to check. My fear is that the low price reflects a short lease- but here’s hoping I’m proven wrong!
This 3 bed, 2 bath (ok 1 is a shower en-suite) overlooking Kingsland Basin on the doorstep of Haggerston, Shoreditch & Hoxton is a great offer for a new build 3 bed. Modern, light-filled rooms in a fantastic and highly desirable location. The lease is good at 115 years and service charges for a new build are reasonable at just £2410pa. I’d expect this property to currently let for around £3k-3250pm so makes a solid return and sits at the very bottom end of this price bracket. I very much doubt this will stick around for long so get on the blower to Stirling Ackroyd sharpish!