London, Catford Hill – Sold Out

/London, Catford Hill – Sold Out

London, Catford Hill – Sold Out

London, Catford Hill – with yields up to 5% – just 10 minutes to London Bridge – Last few remaining

One bedroom apartments from just £265,000 

London, Catford Hill – Catford Hill Apartments

“Catford is what all reasonably central London used to be like and is one of the last places in the Capital that is still reasonably priced” – The Guardian

  • One bedroom apartments from just £265,000
  • Two bedroom apartments from just £295,000
  • Spacious modern properties
  • Fully renovated and ready to rent
  • Sold with a tenant in place if required
  • Yields up to 5%
  • High growth forecast of over 50% over the next 5 years
  • Just over 10 minutes to London Bridge – excellent transport connections
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Why Catford Hill?

Consider this, along with the fact that Foxton’s state that property prices in Catford are still 70.3% below the London average and rents are 48.8% below the London average……you can imagine the appetite for two bedroom properties under £300,000 in an area where prices increased by 16.52% last year.

In fact, House Price have this increase at 20.89% according to their data, and forecast a price growth of 52.66% over the next 5 years in Catford.

In a January Foxton’s customer survey, Paul Hames said of Catford “It’s up and coming…..emerging scenes….great transport links….Central London in 22 minutes. A place with so much more bang for your buck…..don’t tell North or East London!”.

“The Catford Plan” – recently released by Lewisham Council is likely to bring a lot of regeneration to the area. The plan is a lengthy one, with some projects completing in 2026, but this does give current property investors the opportunity to get in now and make the most of vast projected growth in the future. Many of the initiatives are to create much needed residential development in the area due to a large on-going demand for privately rented property which is proportionally nearly twice the national average. Initiatives include the redevelopment of the Greyhound Stadium, Laurence House, Wickes and Halfords with mixed use and commercial re-development in The Catford Centre, Milford Towers, The Civic Centre and Plassey Island Commercial Park.

This reputable developer has renovated many similar projects all over London. Four of the units have been completely refurbished with new kitchens and bathrooms, flooring and blinds. The communal areas have also been renovated to a good standard. Our focus with these properties is to provide investors with high quality rental accommodation that will stand the test of time and be in a similar state in the next 5 to 10 years to give the option of re-selling and cashing in on the huge growth that the area has to offer.

These modern properties offer the following features:

  • Spacious living and bedroom areas with ample natural light and neutral décor
  • Video entry telephones
  • High gloss white kitchen units
  • All white goods integrated and included
  • Contemporary bathrooms
  • Juliet balcony
  • Carpeted throughout
  • Low energy down-lighting
  • Gas central heating throughout
  • A brand new 125 year lease
IPS have managed to agree a significant discount on a variety of properties providing reservation and exchange takes place in May.

Large 1 bedroom apartment – £265,000 (highly recommended)
2 bedroom 2 bathroom apartment  – £295,000

The average price for a two bedroom apartment in this postcode is £319,990 (Source: Foxtons). Here are some examples of comparable properties in the area:
Two Bedroom Apartment – £299,995 – http://www.zoopla.co.uk/for-sale/details/35856787

The low entry level pricing is the biggest selling point and first time buyers in London are priced out of the market and will ultimately look to places like Catford for more affordable options. Buying at such a low level now means that you can still make significant growth as an early investor and sell on to this rapidly expanding market in the near future. The pricing will give you short, medium and long term exit options – something sought by all experienced property investors.

The average rent for a two bedroom apartment in this postcode is £1,223 (Source: Zoopla), however, most of the properties available on the market at this price are significantly sub-standard in comparison to these recently upgraded, renovated units. Here are some examples of comparable properties in the area:
Two Bedroom Apartment – £1,257 pcm – http://www.zoopla.co.uk/to-rent/details/35744917

With rentals varying from £1,200 to £1,350 for a two bedroom property here, current rental yields are just short of 6% for these properties. With the increases projected by industry specialists such as Foxton’s, these properties stand out as an excellent investment in terms of short and medium term rental returns and medium and long term capital growth.

This is a Financial Breakdown based on a One Bedroom Apartment

Purchase Price: £265,000
Deposit Amount from: £26,500
Running Costs from: £1,050
Rental Yield: 5%
“There was a big appetite from first time buyers – typically young couples – purchasing £300,000 two-bed flats around the outskirts of London with a short commute into the capital’s core.” – Barratt Homes

Catford already has an incumbent community of young professionals (nearly twice the national average – Source: Zoopla), but with the recent and future projected increases in this sector, looking to move out of the city centre into more affordable accommodation, it is obvious to see the growth potential in these properties. Just as important is the obvious exit strategy. The private rental sector in Catford is large and continuing to grow (Source: Zoopla), however, we are also experiencing a slight growth in owner occupiers and the main source of this increase seems to be coming from the young professionals in their enthusiasm to get onto the housing ladder in London before it is too late.

With prices well below the £300,000 mark, current property investors can still factor in a significant amount of growth and still sell on their property and be within the budget of the typical London young professional.

Contact IPS For More Information

By | 2017-07-26T10:41:00+00:00 November 22nd, 2015|Comments Off on London, Catford Hill – Sold Out

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