- Buy-to-let property investment +
- Being sold with the current tenants in situ +
- Annual rental income of £20,400 +
- Gross yield at asking price is 5.9% +
- Current owner will extend the lease by 100 years before completed sale +
- Fantastic location for transport links and schools +
Flat 4, 114 Canonbie Road, London SE23 3AG
Asking Price: £350,000
Tenure: Leasehold - New 130-Year Lease on Completion
Current Rent: £1,700 PCM | Tenants in Situ
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Overview
An excellent investment opportunity in the heart of Forest Hill, this well-proportioned two-bedroom first-floor apartment offers spacious living, a private balcony, garage, and access to generous communal gardens. Currently let to two tenants who have been in residence for approximately six months, the property provides immediate rental income at a strong £1,700 per calendar month.
The property will be sold with tenants in situ and will benefit from a brand-new extended lease of approximately 130 years, which is currently being arranged by the seller at a personal cost of £75,000, meaning the buyer will inherit the new lease on completion.
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Key Features
* Two Double Bedrooms
* Separate Living Room and Kitchen
* Private Balcony overlooking communal gardens
* Garage included
* Sought-After Forest Hill Location
* New Lease on Completion (Approx. 130 Years)
* Tenants in Situ | £1,700 PCM
* Extensive Communal Gardens
* Close to Transport, Schools, Parks & Amenities
* Proximity to the Horniman Museum & Gardens
* EPC Rating: D
* Council Tax Band: C
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Property Description
New to the market is this bright and spacious 667 sq ft two-bedroom apartment set within a well-maintained residential block on Canonbie Road. The flat offers two generously sized double bedrooms, a large living room, a separate fitted kitchen, a family bathroom, and a private balcony with attractive views of landscaped communal gardens.
The property also includes a private garage, ideal for parking or storage.
With its layout, size, and location, the flat is well-suited for long-term rental investment and continues to attract strong tenant demand in the area.
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The Location - Forest Hill
Canonbie Road sits in a highly sought-after pocket of Forest Hill, known for its leafy streets, culture-rich attractions, and excellent connectivity. Residents enjoy easy access to a wide selection of independent shops, cafés, bars, restaurants, and green spaces.
Horniman Museum & Gardens
Just moments away, this celebrated museum offers:
* Stunning landscaped gardens
* Animal walk & sound garden (ideal for families)
* Weekly farmers' market
* Seasonal events and exhibitions
Its proximity makes it an invaluable extension of local green space.
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Schools
Forest Hill is renowned for its exceptional choice of educational institutions, including several Ofsted Outstanding schools:
* Eliot Bank - Outstanding
* Fairlawn - Outstanding
* Stillness - Outstanding
* Rathfern - Outstanding
* Horniman Primary - Good (extremely popular locally)
* Dalmain - Good
* Independent options including Montessori and the highly regarded St Dunstan's College (Top 10% nationally).
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Transport Links
Forest Hill Station (London Overground & Southern Rail):
* London Bridge - approx. 15 mins
* Canada Water - approx. 12 mins
* Canary Wharf - approx. 24 mins (via Jubilee Line)
* London Victoria - approx. 40 mins
Excellent for commuters and city professionals.
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Investment Summary
* Strong rental yield with £1,700 PCM income
* Gross yield of 5.9%
* Newly extended lease provided on completion
* Tenants in situ - no void periods
* Prime location with increasing buyer and tenant demand
* Garage + private balcony - rare combination in Forest Hill
An opportunity ideal for investors seeking a stable, well-located rental property with future capital growth prospects.
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