2 Bed Flat, Cash/Bridging Only, London, SE18 1LH, £175,000

Galena House, Grosmont Road, Plumstead, London, SE18 1LH - 1 views - 4 months ago

Sold STC

Leasehold

Cash

ROI: 5%

~68 m²

+12 photos

ValuationFair Value

Sold Prices	£131K - £401.5K
Sold Prices/m²	£2K/m² - £6.4K/m²

Square Metres	~68.11 m²
Price/m²	£2.6K/m²
Value Estimate	£175,000£175,000

End Value (After Refurb)	£303,828£303,828
Uplift in Value	+74%+74%
You could potentially get back more cash than you put into this deal. All your cash out plus £4,035 extra. See the breakdown

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£43,750£43,750
Stamp Duty & Legal Fees	£6,450£6,450
Refurb Costs	£36,043£36,043
Bridging Loan Interest	£4,594£4,594
Total Cash In	£92,587£92,587

Cash Out
Monetisation	FlipRefinance & RentFlip
Estimated Sale Price	£303,828£303,828
Agent Fees (1%)	£3,038£3,038
Bridging Loan	£131,250£131,250
Bridging Loan Interest	£4,594£4,594
Flip Profit	£76,954£76,954

Local Sold Prices

33 sold prices from £131K to £401.5K, average is £250K. £2K/m² to £6.4K/m², average is £4.1K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£131K	07/23	0.04 mi	Flat 30, Beryl House, Spinel Close, London, Greater London SE18 1LL	-	-	2	Flat
£250K	06/21	0.12 mi	Flat 19, Dene Hole House, Wickham Lane, Abbey Wood, London, Greater London SE2 0XH	-	-	2	Flat
£295K	02/23	0.19 mi	35c, Saunders Road, London, Greater London SE18 1NT	£3,642	81	2	Flat
£220K	12/20	0.26 mi	80, Myrtledene Road, London, Greater London SE2 0EU	£4,000	55	2	Flat
£210K	03/23	0.26 mi	Ground Floor Rear Flat, 138, Benares Road, London, Greater London SE18 1HT	-	-	2	Flat
£240K	11/21	0.35 mi	5, Heathfield Terrace, London, Greater London SE18 2NW	£3,636	66	2	Flat
£260K	09/22	0.41 mi	23, Bevan Road, London, Greater London SE2 0UT	£4,262	61	2	Flat
£227K	09/21	0.42 mi	First Floor Flat, 46, Bevan Road, London, Greater London SE2 0UU	-	-	2	Flat
£273K	03/23	0.5 mi	53, Viola Avenue, London, Greater London SE2 0TQ	£4,403	62	2	Flat
£227K	03/21	0.54 mi	214, Bostall Lane, Abbey Wood, London, Greater London SE2 0QT	£3,243	70	2	Flat
£205K	06/21	0.62 mi	36, Combwell Crescent, London, Greater London SE2 9NB	£3,727	55	2	Flat
£215K	05/21	0.62 mi	38, Combwell Crescent, London, Greater London SE2 9NB	£4,057	53	2	Flat
£252K	11/20	0.65 mi	126, Brewery Road, London, Greater London SE18 1NG	£4,000	63	2	Flat
£310K	03/21	0.73 mi	Flat A, 102, Griffin Road, London, Greater London SE18 7QD	-	-	2	Flat
£240K	05/21	0.74 mi	2a, Ancaster Street, London, Greater London SE18 2HX	£5,106	47	2	Flat
£401.5K	07/23	0.74 mi	146b, Griffin Road, Plumstead, London, Greater London SE18 7QA	£6,373	63	2	Flat
£248K	09/23	0.76 mi	139b, Mcleod Road, London, Greater London SE2 0BN	£4,160	60	2	Flat
£210K	05/21	0.76 mi	244, Commonwealth Way, London, Greater London SE2 0LF	£3,231	65	2	Flat
£245K	04/23	0.76 mi	266, Commonwealth Way, London, Greater London SE2 0LF	-	-	2	Flat
£225K	08/21	0.76 mi	252, Commonwealth Way, London, Greater London SE2 0LF	£4,167	54	2	Flat
£255K	05/21	0.79 mi	4, Bylands Close, London, Greater London SE2 9PQ	£3,446	74	2	Flat
£265K	02/23	0.79 mi	106, Chalcombe Road, London, Greater London SE2 9QP	£4,732	56	2	Flat
£155K	02/21	0.83 mi	184, Elmley Street, London, Greater London SE18 7NL	£2,039	76	2	Flat
£155K	02/21	0.83 mi	184, Elmley Street, London, Greater London SE18 7NL	£2,039	76	2	Flat
£270K	12/22	0.84 mi	21, Chalkstone Close, Welling, Greater London DA16 3DJ	£5,094	53	2	Flat
£300K	04/21	0.88 mi	7a, Heavitree Road, London, Greater London SE18 7RA	£5,094	59	2	Flat
£250K	04/21	0.89 mi	58a, Waverley Road, London, Greater London SE18 7TN	£5,814	43	2	Flat
£213K	02/21	0.9 mi	37, Cookhill Road, London, Greater London SE2 9PD	£3,610	59	2	Flat
£255K	12/22	0.91 mi	60, Knee Hill Crescent, London, Greater London SE2 0YN	£3,842	66	2	Flat
£270K	10/22	0.91 mi	4, Knee Hill Crescent, London, Greater London SE2 0YL	£4,219	64	2	Flat
£290K	08/22	0.92 mi	11, Sandgate Road, Welling, Greater London DA16 1BE	£4,265	68	2	Flat
£270K	11/20	0.93 mi	65, Denton Road, Welling, Greater London DA16 1AY	£4,286	63	2	Flat
£255K	03/21	0.98 mi	51, Denton Road, Welling, Greater London DA16 1AY	-	-	2	Flat

Local Rents

50 rents from £1.3K/mo to £2.1K/mo, average is £1.7K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,700	12/24	0.13 mi	-	2	Flat
£1,800	01/25	0.16 mi	-	2	Flat
£1,650	08/24	0.2 mi	Quinnell Close London SE18	2	Flat
£1,800	11/24	0.21 mi	-	2	Flat
£1,800	09/24	0.21 mi	Myrtledene Road London SE2	2	Terraced House
£1,400	04/25	0.22 mi	-	2	Flat
£1,850	11/24	0.22 mi	-	2	Terraced House
£2,050	11/24	0.22 mi	-	2	Terraced House
£1,600	10/24	0.26 mi	-	2	Flat
£1,625	08/24	0.26 mi	Myrtledene Road, London, SE2	2	Flat
£1,600	08/24	0.26 mi	-	2	Bungalow
£1,800	04/25	0.27 mi	-	2	Terraced House
£1,550	08/24	0.27 mi	-	2	Flat
£1,725	08/24	0.27 mi	Kashgar Road, Plumstead	2	Flat
£2,150	08/24	0.29 mi	Benares Road, Plumstead, London, SE18	2	Terraced House
£1,700	08/24	0.29 mi	Tynemouth Road London SE18	2	Flat
£1,700	08/24	0.29 mi	Tynemouth Road London SE18	2	Flat
£1,550	08/24	0.29 mi	Philimore Close, Plumstead, London, SE18 1PN	2	Flat
£2,000	02/25	0.32 mi	-	2	Terraced House
£1,600	08/24	0.32 mi	Ceres Road London SE18	2	Flat
£1,650	08/24	0.33 mi	Riverdale House, 190 Plumstead High Street, London	2	Flat
£1,750	01/25	0.34 mi	-	2	Flat
£1,700	11/24	0.37 mi	-	2	Flat
£1,650	08/24	0.39 mi	-	2	Flat
£1,300	01/24	0.4 mi	-	2	Flat
£1,900	11/24	0.4 mi	-	2	Flat
£1,850	11/24	0.4 mi	-	2	Flat
£1,600	09/24	0.4 mi	-	2	Flat
£1,600	08/24	0.4 mi	Brookdene Road, London, SE18	2	Flat
£1,600	08/24	0.41 mi	Brookdene Road London SE18	2	Flat
£2,033	12/24	0.41 mi	-	2	Terraced House
£1,800	08/24	0.44 mi	Sladedale Road Plumstead SE18	2	Terraced House
£1,800	09/24	0.44 mi	-	2	Semi-Detached House
£1,700	08/24	0.44 mi	-	2	Terraced House
£1,700	12/24	0.44 mi	-	2	Terraced House
£1,700	02/24	0.45 mi	-	2	Terraced House
£1,600	02/24	0.45 mi	-	2	Terraced House
£1,600	08/24	0.45 mi	-	2	Terraced House
£1,600	08/24	0.45 mi	Sladedale Road, Plumstead Common London SE18 1PY	2	Terraced House
£1,550	08/24	0.45 mi	-	2	Terraced House
£1,750	03/25	0.45 mi	-	2	Terraced House
£1,750	12/24	0.45 mi	-	2	Terraced House
£1,750	02/24	0.5 mi	-	2	Terraced House
£1,800	08/24	0.5 mi	-	2	Terraced House
£1,500	04/25	0.52 mi	-	2	Terraced House
£1,675	08/24	0.52 mi	-	2	Terraced House
£1,500	04/25	0.52 mi	-	2	Terraced House
£1,750	08/24	0.53 mi	Kirkham Street, London	2	Terraced House
£1,625	08/24	0.53 mi	-	2	Flat
£1,725	08/24	0.53 mi	-	2	Terraced House

Local Area Statistics

Population in SE18	75,84075,840
Population in London	4,771,9214,771,921
Town centre distance	9.38 miles away9.38 miles away
Nearest school	0.10 miles away0.10 miles away
Nearest train station	0.80 miles away0.80 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	-8%-8%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+6%+6%

Property History

Listed for £175,000

January 3, 2025

Floor Plans

Description

TWO DOUBLE BEDROOMED 8TH FLOOR FLAT +
CASH BUYERS ONLY +
OWN PRIVATE BALCONY WITH FAR REACHING VIEWS +
OFFERED WITH NO FORWARD CHAIN +
GAS CENTRAL HEATING +
DOUBLE GLAZING +

Beaumont Gibbs are offering for sale this spacious two double bedroomed 8th floor balcony flat for sale.

The property is situated close by to Plumstead High Street, local shops and bus routes and is offered chain free.

Cash buyers only.

Lease: The balance of a 125 year lease, created on the 2nd December 2019.

Service Charge: £1,600 per annum. To be confirmed by the vendors solicitor.

Ground Rent: £10,00 per annum.

General property information:

Property Construction: A mixture of concrete and brick. Floor Level: 8th Floor. Sewerage: Mains drainage. Heating Type: Gas central heating Hot water: Via a combination boiler Parking Information: Residents permit parking Flood Risk: No Risk. Ramps / Lift: Lift access.

Utility's:

Gas supply - TBC Electricity supply - TBC Water supply - Thames Water Mobile Phone coverage - For estimated coverage try here, Broadband - For estimated coverage try here,

Agent Details

Beaumont Gibbs, Plumstead

020 3871 8548

Next Steps?

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