2 Bed Flat, Refurb/BRRR, London, E16 2GE, £375,000

The Renovation, 4 Woolwich Manor Way, E16 2GE - 9 views - a year ago

Leasehold

Refurb/BRRR

ROI: 4%

~68 m²

+7 photos

ValuationOvervalued

Sold Prices	£114K - £700K
Sold Prices/m²	£4.1K/m² - £6.5K/m²

Square Metres	~68.11 m²
Price/m²	£5.5K/m²
Value Estimate	£315,974£315,974

End Value (After Refurb)	£334,399£334,399

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£93,750£93,750
Stamp Duty & Legal Fees	£18,700£18,700
Refurb Costs	£36,033£36,033
Bridging Loan Interest	£9,844£9,844
Total Cash In	£160,077£160,077

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£334,399£334,399
Mortgage (After Refinance)	£250,800£250,800
Mortgage LTV	75%75%
Cash Left In	£160,077£160,077
Equity	£83,600£83,600
Rent Range	£1,450 - £3,000£1,450 - £3,000
Rent Estimate	£2,011
Running Costs/mo	£1,467£1,467
Cashflow/mo	£544£544
Cashflow/yr	£6,526£6,526
ROI	4%4%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £114K to £700K, average is £395K. £4.1K/m² to £6.5K/m², average is £5.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£354K	06/21	0.05 mi	13, Lowestoft Mews, London, Greater London E16 2ST	£4,986	71	2	Flat
£298.8K	05/21	0.09 mi	363, Fishguard Way, London, Greater London E16 2RZ	£5,064	59	2	Flat
£320K	06/21	0.09 mi	385, Fishguard Way, London, Greater London E16 2RZ	£5,926	54	2	Flat
£282K	06/21	0.14 mi	28, Swansea Court, London, Greater London E16 2RT	£6,072	46	2	Flat
£290K	03/21	0.17 mi	51, Felixstowe Court, London, Greater London E16 2RR	£4,833	60	2	Flat
£290K	04/23	0.2 mi	113, Felixstowe Court, London, Greater London E16 2RS	£4,603	63	2	Flat
£400K	11/21	0.21 mi	62, Inverness Mews, London, Greater London E16 2SP	£4,141	97	2	Flat
£270K	02/23	0.21 mi	Flat 9, Shaw House, Claremont Street, London, Greater London E16 2LP	-	-	2	Flat
£246K	04/21	0.33 mi	Flat 11, Queensland House, Rymill Street, London, Greater London E16 2LG	-	-	2	Flat
£542.5K	07/23	0.36 mi	Flat 168, Building 45, Hopton Road, London, Greater London SE18 6TL	-	-	2	Flat
£460K	02/23	0.36 mi	Flat 160, Building 45, Hopton Road, London, Greater London SE18 6TL	-	-	2	Flat
£487.5K	11/20	0.36 mi	Flat 162, Building 45, Hopton Road, London, Greater London SE18 6TL	-	-	2	Flat
£485K	02/23	0.36 mi	Flat 143, Building 45, Hopton Road, London, Greater London SE18 6TL	-	-	2	Flat
£420K	10/23	0.39 mi	Flat 96, Building 45, Hopton Road, London, Greater London SE18 6TJ	-	-	2	Flat
£440K	05/21	0.4 mi	Flat 31, Building 49, Argyll Road, London, Greater London SE18 6XB	-	-	2	Flat
£450K	03/21	0.4 mi	Flat 29, Building 49, Argyll Road, London, Greater London SE18 6XB	-	-	2	Flat
£450K	09/23	0.4 mi	Flat 22, Building 49, Argyll Road, London, Greater London SE18 6XB	-	-	2	Flat
£567.5K	06/23	0.4 mi	Flat 4, Building 49, Argyll Road, London, Greater London SE18 6XB	-	-	2	Flat
£580K	02/23	0.4 mi	Flat 33, Building 49, Argyll Road, London, Greater London SE18 6XB	-	-	2	Flat
£575K	06/21	0.41 mi	Flat 2, Building 37, Cadogan Road, London, Greater London SE18 6RB	-	-	2	Flat
£440K	05/21	0.41 mi	Apartment 194, Building 50, Argyll Road, London, Greater London SE18 6PL	-	-	2	Flat
£405K	09/21	0.41 mi	Apartment 296, Building 50, Argyll Road, London, Greater London SE18 6PP	-	-	2	Flat
£455K	07/23	0.41 mi	Apartment 27, Building 50, Argyll Road, London, Greater London SE18 6PG	-	-	2	Flat
£467.5K	11/21	0.41 mi	Apartment 209, Building 50, Argyll Road, London, Greater London SE18 6PL	-	-	2	Flat
£485K	04/21	0.41 mi	Apartment 126, Building 50, Argyll Road, London, Greater London SE18 6PJ	-	-	2	Flat
£450K	03/23	0.41 mi	Apartment 69, Building 50, Argyll Road, London, Greater London SE18 6PG	-	-	2	Flat
£560K	11/21	0.42 mi	Flat 57, Building 36, Marlborough Road, London, Greater London SE18 6XD	-	-	2	Flat
£470K	10/21	0.43 mi	Apartment 193, Building 50, Argyll Road, London, Greater London SE18 6PL	-	-	2	Flat
£465K	04/23	0.43 mi	Apartment 223, Building 50, Argyll Road, London, Greater London SE18 6PL	-	-	2	Flat
£340K	12/22	0.45 mi	119, Erebus Drive, London, Greater London SE28 0GB	£5,667	60	2	Flat
£450K	02/21	0.46 mi	Flat 364, Building 22, Cadogan Road, London, Greater London SE18 6YR	-	-	2	Flat
£417.5K	03/21	0.46 mi	Flat 306, Building 22, Cadogan Road, London, Greater London SE18 6YR	-	-	2	Flat
£390K	09/21	0.46 mi	Flat 103, Building 22, Cadogan Road, London, Greater London SE18 6YS	-	-	2	Flat
£120K	06/23	0.46 mi	Flat 67, Building 22, Cadogan Road, London, Greater London SE18 6YS	-	-	2	Flat
£430K	07/23	0.46 mi	Flat 120, Building 22, Cadogan Road, London, Greater London SE18 6YL	-	-	2	Flat
£700K	11/20	0.47 mi	Apartment 4, Foundry House, Arsenal Way, London, Greater London SE18 6TE	-	-	2	Flat
£334K	08/23	0.52 mi	62, Pier Way, London, Greater London SE28 0GP	£6,549	51	2	Flat
£325K	07/23	0.52 mi	64, Pier Way, London, Greater London SE28 0GP	£6,019	54	2	Flat
£265K	06/21	0.53 mi	65, Pier Way, London, Greater London SE28 0GQ	£5,059	52	2	Flat
£314K	11/22	0.53 mi	71, Pier Way, London, Greater London SE28 0GQ	-	-	2	Flat
£310K	08/21	0.54 mi	23, Erebus Drive, London, Greater London SE28 0GB	£5,910	52	2	Flat
£325K	06/23	0.59 mi	Flat 11, Wilson Court, Allenby Road, London, Greater London SE28 0AL	-	-	2	Flat
£114K	05/21	0.59 mi	Flat 13, Wilson Court, Allenby Road, London, Greater London SE28 0AL	-	-	2	Flat
£322K	11/22	0.59 mi	Flat 7, Wilson Court, Allenby Road, London, Greater London SE28 0AL	-	-	2	Flat
£328.9K	10/22	0.59 mi	Flat 14, Wilson Court, Allenby Road, London, Greater London SE28 0AL	£4,916	67	2	Flat
£330K	06/23	0.61 mi	75, Pettacre Close, London, Greater London SE28 0BX	£5,893	56	2	Flat
£335K	02/23	0.62 mi	Flat 106, Lower Mast House, Mast Quay, London, Greater London SE18 5NF	-	-	2	Flat
£275K	07/23	0.64 mi	Flat 2, Eastgate House, Allenby Road, London, Greater London SE28 0BL	-	-	2	Flat
£330K	11/22	0.64 mi	52, Pettacre Close, London, Greater London SE28 0GX	£5,238	63	2	Flat
£220K	01/21	0.64 mi	Flat 211, Maritime House, Greens End, London, Greater London SE18 6HB	-	-	2	Flat

Local Rents

50 rents from £1.4K/mo to £3K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,603	03/24	0.05 mi	The Reflection, 2 Woolwich Manor Way, E16	2	Flat
£1,675	03/24	0.09 mi	Fishguard Way	2	Flat
£1,725	03/24	0.12 mi	Fishguard Way, Galleons Lock, E16	2	Flat
£1,750	03/24	0.12 mi	Fishguard Way, Galleons Lock, E16	2	Flat
£2,600	04/24	0.12 mi	Masthead House, Rope Terrace, Royal Docks, London, E16	2	Flat
£1,800	04/24	0.12 mi	Sheerness Mews, London, E16	2	Flat
£1,800	02/24	0.12 mi	-	2	Flat
£1,800	05/24	0.12 mi	-	2	Flat
£1,850	02/25	0.12 mi	-	2	Flat
£2,102	05/24	0.13 mi	Fishguard Way, Gallions Point, Royal Docks, City Airport, London, E16 2RG	2	Flat
£1,800	04/24	0.13 mi	Fishguard Way, Canning Town	2	Flat
£1,650	12/24	0.14 mi	-	2	Flat
£1,750	03/25	0.14 mi	-	2	Flat
£1,700	12/24	0.14 mi	-	2	Flat
£1,970	01/25	0.16 mi	-	2	Flat
£1,650	03/24	0.16 mi	Glenister Street, E16	2	Flat
£1,450	12/24	0.16 mi	-	2	Flat
£1,700	04/24	0.17 mi	Felixstowe Court, London	2	Flat
£1,600	03/24	0.17 mi	Felixstowe Court, London	2	Flat
£1,700	03/24	0.17 mi	39 ,Felixstowe Court, London, E16	2	Flat
£1,650	02/24	0.18 mi	-	2	Flat
£2,050	12/24	0.18 mi	-	2	Flat
£3,000	01/25	0.18 mi	-	2	Flat
£2,100	02/25	0.18 mi	-	2	Flat
£1,800	12/24	0.18 mi	-	2	Flat
£1,750	12/24	0.19 mi	-	2	Flat
£2,250	01/25	0.19 mi	-	2	Flat
£2,500	03/24	0.2 mi	Commodore House, Admiralty Avenue, London	2	Flat
£1,700	10/23	0.2 mi	Felixstowe Court, London	2	Flat
£1,700	05/24	0.2 mi	Felixstowe Court, London	2	Flat
£2,100	01/25	0.2 mi	-	2	Flat
£1,800	03/24	0.2 mi	Fishguard Way	2	Flat
£1,900	04/24	0.21 mi	Inverness Mews, London	2	Flat
£1,950	02/25	0.21 mi	-	2	Flat
£1,800	12/24	0.21 mi	-	2	Flat
£1,800	01/25	0.21 mi	-	2	Flat
£1,800	05/24	0.21 mi	Fishguard Way, London, E16	2	Flat
£1,800	04/24	0.22 mi	Fishguard Way, London	2	Flat
£1,800	04/24	0.22 mi	Fishguard Way, Canning Town	2	Flat
£1,900	03/24	0.22 mi	Hull place, Royal Docks	2	Flat
£1,895	04/25	0.22 mi	-	2	Flat
£2,310	12/24	0.22 mi	-	2	Flat
£1,900	03/24	0.24 mi	Sunderland Point , Galleons Lock, E16	2	Flat
£1,800	03/25	0.24 mi	-	2	Flat
£1,750	02/24	0.24 mi	-	2	Flat
£1,750	12/24	0.24 mi	-	2	Flat
£1,750	05/24	0.24 mi	-	2	Flat
£1,500	02/25	0.24 mi	-	2	Flat
£1,750	04/24	0.24 mi	Claremont Close, London, E16	2	Flat
£1,600	02/25	0.24 mi	-	2	Flat

Local Area Statistics

Population in E16	44,88044,880
Population in London	4,771,9214,771,921
Town centre distance	7.76 miles away7.76 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.34 miles away0.34 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-4%-4%
Sales demand	Buyer's marketBuyer's market
Capital growth (5yrs)	-3%-3%

Property History

Listed for £375,000

January 25, 2024

Floor Plans

Description

Two bedroom duplex +
Chain free +
Long leasehold +
Close to London City Airport +
Unique period conversion +

Accommodation comprises of a cavernous, open-plan reception area, with vaulted ceilings, that is flooded with an abundance of natural light courtesy of several large recessed windows, plus a fully fitted kitchen that comes with a range of integrated appliances. There are two generous bedrooms, a large study area/home office space, ample storage and an allocated off-street parking space.

The renovation is located adjacent to Royal Victoria Gardens and is also within close proximity to a variety of local shops. King George DLR is located within just 0.3 miles, offering connectivity to Canary Wharf, in under18 minutes and Bank in under 25 minutes.

Lease Length - 101 years approx.

Service Charge - £3,882 pa

Ground Rent - £530 pa

Selling your property in The Renovation? Trying to find your perfect home to buy? Register with Chestertons Canary Wharf to get the full picture from the experts in the Silvertown market.

Our China Desk is here for you, if Chinese is your preferred language, please get in touch via WeChat (Chestertons-NHsales)

Agent Details

Chestertons, Canary Wharf and Docklands

020 3869 5880

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪

Similar Properties

Like this property? Maybe you'll like these ones close by too.