MEADOW ROAD, LONDON SW8

  • Purchased August 2015; refurbishment completed mid September 2015; tenancy commenced 10th October 2015
  • 3/4 bed, 1-bath ex-local authority freehold house 10 minutes’ walk from Vauxhall Station (Zone 1), and 10 minutes' walk from the site of the new Nine Elms underground station (due to open 2020)
  • Sourced via local agent
  • Strategy: Convert to 5-bed, 2-bath for rental to professional sharers on one AST
  • Purchase price: £580,000 (asking price £595,000)
  • Refurbishment costs: £45,000
  • Estimated capital value post refurbishment: £695,000
  • Rental value achieved: £755 pw
  • Gross yield at purchase: 5%
  • Current gross yield 6.3% (projected gross yield in 5 years 8.1%)
  • Approx 11% capital uplift / approx 37% uplift at 75% LTV

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CEDARS ROAD, LONDON SW4

  • Purchased July 2005; refurbishment completed end August 2005; tenancy commenced September 2005
  • 3 bed, 1-bath ex-local authority leasehold flat 10 minutes’ walk from Clapham Common tube station
  • Sourced via local agent
  • Strategy: Convert to 4-bed, 1-bath for rental to professional sharers on one AST
  • Purchase price: £220,000 
  • Refurbishment costs: £29,500
  • Estimated capital value today: £500,000
  • Rental value achieved in 2005: £350 pw
  • Rental value achieved 2015: £550 pw
  • Gross yield at purchase: 7.3%
  • Current gross yield 6.4%
  • Gross average total unleveraged return 12.6% per annum
  • Gross average total leveraged return (75% LTV) 40.7% per annum
  • Approximate doubling of capital value over 9 years

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After

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