2 Bed Flat, Single Let, Reading, RG1 7LF £290,000

221B Chatham Street, Reading, RG1 7LF - 5 views - 10 months ago

Leasehold

BTL

ROI: 4%

~68 m²

ValuationOvervalued

Sold Prices	£101.4K - £405K
Sold Prices/m²	£2.2K/m² - £5.7K/m²

Square Metres	~68.11 m²
Price/m²	£4.3K/m²
Value Estimate	£275,945£275,945

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£72,500£72,500
Stamp Duty & Legal Fees	£17,700£17,700
Total Cash In	£90,200£90,200

Cash Out
Rent Range	£1,475 - £2,100£1,475 - £2,100
Rent Estimate	£1,500
Running Costs/mo	£1,226£1,226
Cashflow/mo	£274£274
Cashflow/yr	£3,285£3,285
ROI	4%4%
Gross Yield	6%6%

Local Sold Prices

50 sold prices from £101.4K to £405K, average is £263.8K. £2.2K/m² to £5.7K/m², average is £4.3K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£310K	05/25	0.04 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	£4,844	64	2	Flat
£310K	05/25	0.04 mi	Flat 501, 20 Honister, Alfred Street, Reading RG1 7AH	-	-	2	Flat
£215K	04/23	0.1 mi	23, Stratheden Place, Reading RG1 7BH	£3,839	56	2	Flat
£237.5K	03/25	0.17 mi	9, Phoenix Place, Waylen Street, Reading RG1 7UH	-	-	2	Flat
£210K	03/25	0.25 mi	179a, Great Knollys Street, Reading RG1 7HP	£4,118	51	2	Flat
£180K	06/23	0.25 mi	Flat 19, Icon House, Merchants Place, Reading RG1 1EQ	-	-	2	Flat
£215K	10/21	0.27 mi	29, Bedford Road, Reading RG1 7EU	£3,468	62	2	Flat
£101.4K	02/23	0.32 mi	23, Talbot Court, Reading RG1 6QH	£2,157	47	2	Flat
£265K	09/21	0.35 mi	34, Swan Place, Reading RG1 6QD	£4,103	65	2	Flat
£200K	03/25	0.36 mi	5, Fobney Street, Reading RG1 6BY	£4,762	42	2	Flat
£253K	06/25	0.38 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	£3,721	68	2	Flat
£253K	06/25	0.38 mi	3, Riverside House, Fobney Street, Reading RG1 6BH	-	-	2	Flat
£300K	06/21	0.39 mi	Flat 10, Simmonds Malthouse, Fobney Street, Reading RG1 6BS	-	-	2	Flat
£225K	07/25	0.43 mi	Flat 3, 23, Coley Hill, Reading RG1 6AE	-	-	2	Flat
£226.3K	03/25	0.48 mi	15, Berkeley Court, Coley Avenue, Reading RG1 6LH	£3,969	57	2	Flat
£240K	07/21	0.5 mi	11, Deansgate Road, Reading RG1 2RZ	-	-	2	Flat
£295K	01/25	0.51 mi	Regents Riverside, Flat 8, Brigham Road, Reading RG1 8QS	£4,758	62	2	Flat
£363K	06/23	0.51 mi	Flat 57, Regents Riverside, Brigham Road, Reading RG1 8QS	-	-	2	Flat
£260K	07/25	0.53 mi	20, Caversham Wharf, Waterman Place, Reading RG1 8DS	-	-	2	Flat
£190K	05/25	0.55 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	£3,585	53	2	Flat
£190K	05/25	0.55 mi	41, Capital Point, Temple Place, Reading RG1 6QJ	-	-	2	Flat
£265K	05/25	0.56 mi	10, Brownlow Lodge, Brownlow Road, Reading RG1 6NR	-	-	2	Flat
£265K	05/25	0.56 mi	10, Brownlow Lodge, Brownlow Road, Reading RG1 6NR	£4,274	62	2	Flat
£188K	07/23	0.6 mi	Flat 6, Nelson Mews, St Giles Close, Reading RG1 2SF	-	-	2	Flat
£295K	04/23	0.61 mi	Flat 30, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£270K	07/21	0.61 mi	Flat 18, Kings Oak Court, Queens Road, Reading RG1 4PX	-	-	2	Flat
£117.5K	03/25	0.63 mi	19, 115 Blenheim Court, London Street, Reading RG1 4PH	£2,304	51	2	Flat
£368K	03/25	0.66 mi	5 9 Riverside View, Flat 67, Berkeley Avenue, Reading RG1 6FH	£4,973	74	2	Flat
£317.5K	03/25	0.68 mi	Flat 29, Upcross House, Upcross Gardens, Reading RG1 6PN	£4,349	73	2	Flat
£330K	01/23	0.68 mi	86, Elliots Way, Caversham, Reading RG4 8BF	£5,593	59	2	Flat
£295K	02/23	0.68 mi	74, Elliots Way, Caversham, Reading RG4 8BF	£5,673	52	2	Flat
£405K	03/25	0.68 mi	10, 47 Queen's Wharf, Queens Road, Reading RG1 4QE	£3,682	110	2	Flat
£210K	07/25	0.68 mi	75, Admirals Court, Reading RG1 6SS	-	-	2	Flat
£240K	03/25	0.69 mi	3, Baron Court, Reading RG30 2BP	£3,750	64	2	Flat
£299K	12/24	0.7 mi	23, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,463	67	2	Flat
£307.5K	03/25	0.7 mi	31, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,659	66	2	Flat
£307.5K	03/25	0.7 mi	31, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£262.5K	09/21	0.7 mi	91, Elliots Way, Caversham, Reading RG4 8BW	£5,250	50	2	Flat
£340K	02/23	0.7 mi	11, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£335K	12/22	0.71 mi	9, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£255K	07/25	0.71 mi	1, Grantley Heights, Kennet Side, Reading RG1 3EG	-	-	2	Flat
£358K	03/25	0.72 mi	Flat 21, 4, Palmer Street, Reading RG1 3GY	£5,508	65	2	Flat
£269K	06/21	0.72 mi	4, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,419	61	2	Flat
£330K	04/23	0.72 mi	45, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£350K	10/22	0.72 mi	57, Abbotsmead Place, Caversham, Reading RG4 8BB	£4,375	80	2	Flat
£300K	12/24	0.72 mi	2, Abbotsmead Place, Caversham, Reading RG4 8BB	£5,000	60	2	Flat
£240K	05/25	0.72 mi	30, Abbotsmead Place, Caversham, Reading RG4 8BB	£3,871	62	2	Flat
£240K	05/25	0.72 mi	30, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£250K	07/25	0.72 mi	28, Abbotsmead Place, Caversham, Reading RG4 8BB	-	-	2	Flat
£235K	03/25	0.73 mi	12, Cox Hollow, Southcote Road, Reading RG30 2LA	£2,807	84	2	Flat

Local Rents

50 rents from £1.5K/mo to £2.1K/mo, average is £1.8K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,980	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7PZ	2	Flat
£2,100	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7QP	2	Flat
£1,915	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7PZ	2	Flat
£1,925	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7PZ	2	Flat
£2,015	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7PZ	2	Flat
£2,100	11/25	0.02 mi	Emporium House East, Alloway Courtyard, Weldale Street, Reading RG1 7QP	2	Flat
£1,995	10/25	0.02 mi	-	2	Flat
£1,955	06/25	0.02 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,975	07/25	0.02 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,950	09/25	0.02 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,970	10/25	0.02 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,940	10/25	0.02 mi	Emporium House West, Weldale Street, Reading, Berkshire, RG1 7NW	2	Flat
£1,600	06/25	0.02 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,925	10/25	0.02 mi	-	2	Flat
£1,475	06/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,650	09/25	0.03 mi	Honister, 20 Alfred Street, Reading, RG1	2	Flat
£1,650	10/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,600	05/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,650	08/24	0.03 mi	Hewitt, Reading, RG1	2	Flat
£1,650	09/24	0.03 mi	-	2	Flat
£1,595	10/25	0.03 mi	Alfred Street, Reading, Berkshire, RG1	2	Flat
£1,550	06/25	0.03 mi	Alfred Street, Reading, RG1	2	Flat
£1,500	06/25	0.03 mi	Alfred Street, Reading, RG1	2	Flat
£1,500	06/25	0.03 mi	Alfred Street, Reading, RG1	2	Flat
£1,700	05/25	0.03 mi	-	2	Flat
£1,750	10/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,750	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,850	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,600	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,700	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,600	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,750	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,700	07/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,650	08/24	0.03 mi	Hewitt, 40 Alfred Street, Reading, RG1	2	Flat
£1,650	08/24	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,700	07/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,850	07/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,650	08/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,700	10/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,600	11/25	0.03 mi	Hewitt, Alfred Street, Reading, RG1	2	Flat
£1,895	06/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,995	06/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,880	06/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£2,030	06/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,865	06/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,865	07/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,910	07/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,975	07/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£2,000	07/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat
£1,925	07/25	0.03 mi	Domain, Tilling Courtyard, Weldale Street, Reading, Berkshire, RG1	2	Flat

Local Area Statistics

Population in RG1	43,08543,085
Population in Reading	321,187321,187
Town centre distance	0.36 miles away0.36 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.31 miles away0.31 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+5%+5%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+9%+9%

Property History

Listed for £290,000

January 14, 2025

Floor Plans

Description

Eighth floor apartment with townscape views +
Large open plan kitchen/diner +
Master with en-suite +
Undercroft parking space +
Walking distance of town amenities +
No onward chain +

An impressive 2 bedroom apartment situated on 8th floor of this prime town centre development, ideally positioned within a short walk of the vibrant town centre and the mainline station.
One of the larger designs in the development at just under 800 sqft and with townscape views, this makes for an ideal investment or first time buy.
The property benefits from secure undercroft parking and the development has an onsite concierge. The property can be purchased with tenants in situ or with no chain. Reading town centre is a short walk with a plethora of retail shops and eateries. Reading mainline train station is also less than 5 minutes away which gives direct access to Paddington and wider London stations. Viewings highly recommended.

Additional Information - Financial & Lease Info - Years remaining: 236
Service charge: £1836 every 6 months
Ground rent: £350 PA
Ground rent review period: Every 15 years, next review 01-04-2025 in line with RPI

Additional Information (Part B) - Property construction – Standard form

Services:
Gas - mains
Water – mains
Drainage – mains
Electricity - mains
Heating - Gas central heating

Broadband connection available (information obtained from Ofcom):
Ultrafast – Fibre to the premises (FTTP)

Mobile phone coverage
For an indication of specific speeds and supply of broadband and mobile, we recommend potential buyers go to the Ofcom web-site “Broadband and mobile coverage checker”

Additional Information (Part C) - The property is located on the eighth floor and accessed via a lift.

Parking - There is an undercroft parking space available at the property.

Rental Yield - We believe the current rental value for a furnished let would be £1,500 per calendar month which based on the asking price represents a possible gross rental yield of 5.5%

Agent Details

Haslams Estate Agents, Reading

0118 230 1217

Next Steps?

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

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