2 Bed Flat, Single Let, London, SE18 1HT, £170,000

Flat 1, 138 Benares Road, London, SE18 1HT - 3 views - 2 months ago

Leasehold

Auction

BTL

ROI: 15%

~68 m²

+6 photos

ValuationUndervalued

Sold Prices	£108.5K - £401.5K
Sold Prices/m²	£2K/m² - £6.4K/m²

Square Metres	~68.11 m²
Price/m²	£2.5K/m²
Value Estimate	£209,100£209,100
BMV	23%

Cashflows

Cash In
Purchase Finance	MortgageMortgage
Deposit (25%)	£42,500£42,500
Stamp Duty & Legal Fees	£9,700£9,700
Total Cash In	£52,200£52,200

Cash Out
Rent Range	£1,300 - £2,150£1,300 - £2,150
Rent Estimate	£1,500
Running Costs/mo	£851£851
Cashflow/mo	£649£649
Cashflow/yr	£7,785£7,785
ROI	15%15%
Gross Yield	11%11%

Local Sold Prices

35 sold prices from £108.5K to £401.5K, average is £248K. £2K/m² to £6.4K/m², average is £4.2K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£210K	03/23	0.05 mi	Ground Floor Rear Flat, 138, Benares Road, London, Greater London SE18 1HT	-	-	2	Flat
£250K	06/21	0.17 mi	Flat 19, Dene Hole House, Wickham Lane, Abbey Wood, London, Greater London SE2 0XH	-	-	2	Flat
£131K	07/23	0.23 mi	Flat 30, Beryl House, Spinel Close, London, Greater London SE18 1LL	-	-	2	Flat
£220K	12/20	0.24 mi	80, Myrtledene Road, London, Greater London SE2 0EU	£4,000	55	2	Flat
£295K	02/23	0.29 mi	35c, Saunders Road, London, Greater London SE18 1NT	£3,642	81	2	Flat
£205K	06/21	0.38 mi	36, Combwell Crescent, London, Greater London SE2 9NB	£3,727	55	2	Flat
£215K	05/21	0.39 mi	38, Combwell Crescent, London, Greater London SE2 9NB	£4,057	53	2	Flat
£260K	09/22	0.43 mi	23, Bevan Road, London, Greater London SE2 0UT	£4,262	61	2	Flat
£227K	09/21	0.43 mi	First Floor Flat, 46, Bevan Road, London, Greater London SE2 0UU	-	-	2	Flat
£273K	03/23	0.44 mi	53, Viola Avenue, London, Greater London SE2 0TQ	£4,403	62	2	Flat
£227K	03/21	0.53 mi	214, Bostall Lane, Abbey Wood, London, Greater London SE2 0QT	£3,243	70	2	Flat
£255K	05/21	0.55 mi	4, Bylands Close, London, Greater London SE2 9PQ	£3,446	74	2	Flat
£240K	11/21	0.59 mi	5, Heathfield Terrace, London, Greater London SE18 2NW	£3,636	66	2	Flat
£265K	02/23	0.59 mi	106, Chalcombe Road, London, Greater London SE2 9QP	£4,732	56	2	Flat
£248K	09/23	0.66 mi	139b, Mcleod Road, London, Greater London SE2 0BN	£4,160	60	2	Flat
£213K	02/21	0.66 mi	37, Cookhill Road, London, Greater London SE2 9PD	£3,610	59	2	Flat
£252K	11/20	0.7 mi	126, Brewery Road, London, Greater London SE18 1NG	£4,000	63	2	Flat
£210K	05/21	0.73 mi	244, Commonwealth Way, London, Greater London SE2 0LF	£3,231	65	2	Flat
£245K	04/23	0.73 mi	266, Commonwealth Way, London, Greater London SE2 0LF	-	-	2	Flat
£225K	08/21	0.73 mi	252, Commonwealth Way, London, Greater London SE2 0LF	£4,167	54	2	Flat
£310K	03/21	0.74 mi	Flat A, 102, Griffin Road, London, Greater London SE18 7QD	-	-	2	Flat
£401.5K	07/23	0.79 mi	146b, Griffin Road, Plumstead, London, Greater London SE18 7QA	£6,373	63	2	Flat
£270K	10/22	0.82 mi	4, Knee Hill Crescent, London, Greater London SE2 0YL	£4,219	64	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
£255K	12/22	0.83 mi	60, Knee Hill Crescent, London, Greater London SE2 0YN	£3,842	66	2	Flat
£260K	04/23	0.88 mi	4, Marathon Way, London, Greater London SE28 0JH	£4,325	60	2	Flat
£273K	09/22	0.92 mi	43, Battery Road, London, Greater London SE28 0JL	£4,403	62	2	Flat
£250K	04/21	0.93 mi	58a, Waverley Road, London, Greater London SE18 7TN	£5,814	43	2	Flat
£285K	07/23	0.95 mi	40, Garrick Drive, London, Greater London SE28 0EQ	£5,182	55	2	Flat
£235K	09/22	0.95 mi	13a, Florence Road, London, Greater London SE2 9HB	£4,554	52	2	Flat
£300K	04/21	0.96 mi	7a, Heavitree Road, London, Greater London SE18 7RA	£5,094	59	2	Flat
£240K	05/21	0.97 mi	2a, Ancaster Street, London, Greater London SE18 2HX	£5,106	47	2	Flat
£108.5K	10/22	0.98 mi	Flat 30, Long Acre House, Pettacre Close, London, Greater London SE28 0PA	-	-	2	Flat
£275K	07/23	1 mi	Flat 2, Eastgate House, Allenby Road, London, Greater London SE28 0BL	-	-	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
£1,600	08/24	0.03 mi	-	2	Bungalow
£2,150	08/24	0.08 mi	Benares Road, Plumstead, London, SE18	2	Terraced House
£1,850	11/24	0.1 mi	-	2	Terraced House
£2,050	11/24	0.1 mi	-	2	Terraced House
£1,700	12/24	0.14 mi	-	2	Flat
£1,725	08/24	0.14 mi	Kashgar Road, Plumstead	2	Flat
£1,800	09/24	0.15 mi	Myrtledene Road London SE2	2	Terraced House
£1,800	11/24	0.16 mi	-	2	Flat
£1,600	10/24	0.17 mi	-	2	Flat
£1,600	08/24	0.23 mi	Ceres Road London SE18	2	Flat
£1,650	08/24	0.24 mi	-	2	Flat
£1,625	08/24	0.24 mi	Myrtledene Road, London, SE2	2	Flat
£1,550	08/24	0.25 mi	-	2	Flat
£1,600	09/24	0.26 mi	-	2	Flat
£1,600	08/24	0.26 mi	Brookdene Road, London, SE18	2	Flat
£1,600	08/24	0.26 mi	Brookdene Road London SE18	2	Flat
£1,400	04/25	0.27 mi	-	2	Flat
£2,000	02/25	0.27 mi	-	2	Terraced House
£1,650	08/24	0.27 mi	Quinnell Close London SE18	2	Flat
£1,650	08/24	0.28 mi	Riverdale House, 190 Plumstead High Street, London	2	Flat
£1,800	04/25	0.3 mi	-	2	Terraced House
£1,800	01/25	0.33 mi	-	2	Flat
£1,700	12/24	0.38 mi	-	2	Terraced House
£1,700	08/24	0.39 mi	Tynemouth Road London SE18	2	Flat
£1,700	08/24	0.39 mi	Tynemouth Road London SE18	2	Flat
£1,550	08/24	0.41 mi	Philimore Close, Plumstead, London, SE18 1PN	2	Flat
£1,300	01/24	0.41 mi	-	2	Flat
£1,650	03/25	0.41 mi	-	2	Terraced House
£1,700	08/24	0.42 mi	Smithies Road, Abbey Wood, London, SE2	2	Detached House
£2,033	12/24	0.43 mi	-	2	Terraced House
£1,800	08/24	0.45 mi	-	2	Terraced House
£1,600	03/25	0.45 mi	-	2	Terraced House
£1,500	01/25	0.47 mi	-	2	Flat
£1,750	09/24	0.49 mi	-	2	Terraced House
£1,800	08/24	0.49 mi	Church Manorway, London, SE2	2	Terraced House
£1,800	09/24	0.49 mi	Church Manorway, London, SE2	2	Terraced House
£1,675	08/24	0.49 mi	-	2	Terraced House
£1,500	04/25	0.49 mi	-	2	Terraced House
£1,500	04/25	0.49 mi	-	2	Terraced House
£1,900	09/24	0.54 mi	-	2	Flat
£1,800	08/24	0.54 mi	Sladedale Road Plumstead SE18	2	Terraced House
£1,700	02/24	0.54 mi	-	2	Terraced House
£1,900	08/24	0.54 mi	-	2	Terraced House
£1,800	08/24	0.54 mi	Bostall Lane, London, SE2	2	Terraced House
£1,800	09/24	0.54 mi	-	2	Terraced House
£1,849	03/25	0.54 mi	-	2	Terraced House
£1,600	02/24	0.55 mi	-	2	Terraced House
£1,600	08/24	0.55 mi	-	2	Terraced House
£1,600	08/24	0.55 mi	Sladedale Road, Plumstead Common London SE18 1PY	2	Terraced House
£1,800	09/24	0.57 mi	-	2	Semi-Detached House

Local Area Statistics

Population in SE18	75,84075,840
Population in London	4,771,9214,771,921
Town centre distance	9.33 miles away9.33 miles away
Nearest school	0.20 miles away0.20 miles away
Nearest train station	0.74 miles away0.74 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 £170,000

March 5, 2025

Floor Plans

Description

Ground Floor Flat +
Victoria Conversion +
Two Bedrooms +
Ideal Investment +
Close to Plumstead High Street +
Close to Plumstead Station +

Guide Price £170,000 Plus Fees
For sale by unconditional online auction, registration is now open. Bidding opens on 30/04/2025 10:00 and ends on 30/04/2025 13:20.

For sale by online auction on 30 April 2025
Bidding opens at 9:00am and closes from 9:30am
Ground Floor Flat
Victorian Conversion
Two Bedrooms
Ideal Investment
Close to Plumstead High Street
Close to Plumstead Station

Two-bedroom ground floor flat, perfectly situated in a quiet residential road within one of South East London's emerging neighborhood's. Property comprises: entrance hall, bathroom, two bedrooms and kitchen living room with access to a rear courtyard.

The property is currently rented bringing in £1,500 pcm = £18,000 per annum.

Ideally located near Plumstead High Street and Woolwich town centre with all of their amenities. Transport links available. Plumstead Rail Station and Woolwich Arsenal provide direct access to London Bridge, Charing Cross, and other central London destinations. The DLR at Woolwich Arsenal offers quick routes to Canary Wharf, Liverpool Street, and Bond Street. Additionally, the Elizabeth Line further enhances connectivity, making travel across London even more accessible.

Leasehold Information:
Length of lease - 125 years from 25 December 2002
For ground rent and service charge please refer to the legal pack.

Tenure
Leasehold

Terms

Legal Pack

To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website tcpa.co.uk

UNCONDITIONAL LOT Exchange and administration fee information: (plus fees)
Buyers Administration Fee Applies upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyers Administration Fee of £1200 + VAT and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated in the legal pack or on the sales details).
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges - please refer to the legal pack.

Registration Process
To register to bid on the property, find the property on the Town & Country Property Auctions website. Click onto the property, follow the link to “Log in/ register to bid”. You will then be directed to create an auction passport account with our online-bidding platform provider Essential Information Group.

Agent Details

Town and Country Property Auctions, London

01932 548500

Next Steps?

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

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