- Two bedroom apartment +
- Net yield: 7.5% +
- Rental income: £20,400 per annum +
- Local letting agent currently managing +
- Tenure: Leasehold 88 years remaining (information in write up on extension costs) +
- Being sold with the current tenants in situ +
Investment Overview
Pure Investor is pleased to offer for sale this well-presented, tenanted 2-bedroom third-floor flat in Barking, a highly sought-after area with excellent transport links to Central London. This is a fantastic opportunity for investors seeking a reliable rental income and long-term capital growth.
Current Rental Income: £1,700 per calendar month
Tenancy Commenced: August 2024
Lease Term Remaining: 88 years
Ground Rent: £10 per year
Service Charges: £2,040 per annum (includes building insurance)
Net Income: £18,350
Net Yield: 7.5%
Net Yield With Lease Extension Included: 7.3%
Key Features
2 Bedrooms - bright and spacious
Bathroom & Separate W/C
Gas central heating & double glazing
EPC Rating: D
Council Tax Band: B
Conveniently located close to Barking Station, offering District Line access to the City
Property Description
This third-floor flat offers a practical layout ideal for tenants or buy-to-let investors. The reception room flows onto a private balcony, while the fitted kitchen/diner provides a functional and modern space. Two good-sized bedrooms, a bathroom, and a separate W/C complete the accommodation. The property benefits from gas central heating and double-glazed windows throughout.
Leasehold Details
Original Lease: 125 years from 8th May 1989
Years Remaining: Approximately 88
Annual Ground Rent: £10
Annual Service Charges: £2,040 (including building insurance)
Lease Extension Benefits:
Extend the lease by an additional 90 years
Reduce ground rent to zero (peppercorn rent)
Estimated Costs for Lease Extension:
Premium: Subject to valuation
Council Legal Fees: £2,000-£2,500
Surveyor's Fee: Approx. £750
A lease extension will enhance long-term investment value and secure the property's future income potential.
Investment Highlights
Tenanted with long-term rental income of £1,700 pcm
Strong rental yield potential
Well-presented and maintained
Excellent transport links via Barking Station
Secure leasehold investment with potential for lease extension