As regular readers of my Docklands property blog know, I try and keep you informed of any attractive buy to let opportunities, even if they are for sale with another agent!
This one bedroom apartment is in Savills auction on the 2nd March 2016 so you don't have a lot of time to complete your due diligence. What I can tell you is that one bedroom apartments for rent are safe investments for a number of reasons. My top two reasons for looking at one beds are:
1. One bedroom apartments at sensible prices tend to be in constant short supply. This means low to zero rental void periods.
2. Looking at the risk perspective, apartments around £250k simply do not have as far to fall as apartments costing well over £500k! Although I do not think a crash is coming, I am always mindful of the worse case scenario and I think any investor should be too.
Rotherhithe has proven to be a very popular area for tenants. It is well connected to Canary Wharf, the City and the West End. The area has a large shopping mall, a more traditional high street and also some cool and quirky places to eat. Greenwich market and the esoteric local shops there are also close by.
It is lot 85 and here is the catalogue entry from Savills:
A one bedroom ground floor flat presented in clean but dated decorative order, close to shops and transport links - Vacant
Leasehold. 99 years from 20th April 1996.
Ground rent £100 per annum rising.
- The property is located on Transom Close, which runs north off Plough Road
- Shopping facilities can be found nearby at Lower Road
- Leisure facilities can be found at Deptford Park and South Park
- A ground floor flat forming part of a purpose built block
- Internally the property is presented in clean decorative order
- Ground Floor - Bedroom, Reception Room, Kitchen, Bathroom/WC
I would anticipate a rental of around £1083 to £1150 per calendar month in clean condition. Given the age of the property it may require some light refurbishment works inside.The lease has 79 years remaining and although this is not currently an issue, it may be worth establishing the cost of extending the lease.
If you have any questions or would like me to review a specific property for you, please email me here.