BTL Deals of the Week #7 - incl. a development by architect Erno Goldfinger!
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. Kicking off this week’s video is a property in Bow, 2 beds with 2 baths in a period conversion for an impressive price of £400k. Next up is a 3-bed in Stratford with a large private roof terrace, and finally we have a beautiful 3-bedroom house in Stoke Newington which looks ready-to-go!
If you are interested in seeing more of our highlighted properties going forward, you can subscribe to our YouTube channel for updates.
Up to £500k
Located in this iconic building designed by architect Erno Goldfinger (no, not the Bond villain himself, but the architect whose name was borrowed for the book!), Metro Central Heights has been a fixture of the local housing market since its conversion to residential apartments in 2002. This 2 bed 2 bath apartment is packed in tightly to 612 sq.ft but offers bright accommodation with a plethora of amenities including a 24hr concierge, residents gym & spa, courtyard gardens and off-street parking (at separate negotiation). All of this will come at a cost so it is imperative you have the agents confirm the lease details as well as the Ground Rent & Service Charges. However, listed at £440k, I would not be surprised to see this let for £2k per month. In an ideal world, I would recommend a medium to extensive refurbishment to maximise appeal and returns- anything from a full refit to, potentially, reworking the layout. However, an iconic property that will likely never lose its appeal.
Located above Jennis & Warmann tweed tailors is this immaculately refurbished 2 double bedroom, 2 bathroom maisonette. The property, spread out over two floors, has an immaculate and modern interior and therefore represents a turnkey investment that could be let out immediately. With everything Church St and Dalston has to offer literally on your doorstep, there will be a plethora of potential tenants looking to secure this stunning home. Presented the way it is, I’d expect to see a rental income of at least £2250 pm representing a strong return on investment, if the property sells around the list price of £560,000. The property is leasehold but no further details are currently available so do make sure you have the agent confirm the length of the lease as well as the Ground Rent & Service Charges before submitting any bids. This won’t be around for long so move on this one fast!
Located a stone’s throw (quite literally) from Victoria Park and the Regents Canal is this rather stunning 3-bed pub conversion on the market with The Modern House. The property boasts high ceilings and large windows throughout- not to mention a stunning interior to boot. Spread over 950 sq.ft, it is an ample-sized property which also benefits from a small but private decked terrace- which overlooks/overhangs the neighbouring canal. The only downside is that it only has 1 bathroom (although there is a 2nd WC/Laundry room) - however I think tenants will forego the luxury of a second bathroom to live in a property of this quality and in such an amazing location. I would not be at all surprised to see this let in the region of £3500 pm. The property is leasehold however length of lease as well as the Ground Rent & Service Charge costs are missing so you will need to confirm these details before proceeding any further.