This 2-bedroom ground floor apartment is located in London, SE8 5BN, and offers a spacious 699 sq ft of internal living area. The property is sold with vacant possession, making it ideal for immediate occupancy. It comes with a short lease, with 68 years remaining, but a Section 42 Notice has been served and will be assigned to the buyer upon completion, allowing for an immediate lease extension. The apartment has an annual ground rent of £100 and a monthly service charge of £135. Additionally, it includes two parking permits for convenient parking access.

Financial highlights:
▪ Purchase price: Offers of £255,000 plus a 2% buyer's fee (£5,100)* to be paid on exchange of contracts
▪ Lease extension cost:
▪ Best case: £30,000
▪ Worst case: £34,000
▪ Recommendation: A formal offer of £25,000 has been suggested by a RICS surveyor
▪ Estimated end value after lease extension:
- £350,000 in its current condition (confirmed by a RICS valuation)
- £375,000 as an estate agent's marketing price post-lease extension
▪ Discount: Approximately 27% below the end value*
▪ Calculation: (£350,000 - £255,000) / £350,000 × 100% ≈ 27%
▪ Comparable sale:* Flat 159, Inwen Court sold for *£360,000* in August 2023
▪ Rental potential: Estimated at *£1,907 per month, yielding a potential gross yield of **6.5%*

Investment Potential:
▪ Capital appreciation: Property values in the area have increased by 1.5% over the last 12 months
▪ Rental growth: Rental values have risen by 6.3% in the same period
▪ Lease extension Benefits:
▪ Extending the lease can significantly increase the property's value and marketability
▪ RICS valuation: Confirms the property is worth £350,000 in its current condition after lease extension
▪ Estate agent valuation: Estimates a marketing price of £375,000 post-lease extension
▪ Solid investment: Properties with RICS surveys are considered solid investments, providing you with the reassurance needed to move forward confidently

Additional Information:
▪ EPC rating: The previous EPC (now expired) was rated E (dated 10 May 2014)
▪ Utilities: The property is not connected to mains gas and features single-glazed windows with electric storage heaters

Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.