Investors paid 45.22p per share in the New Listing for this property, and it became available on the Resale market February 16th 2015.
The property is situated in Whitechapel and within walking distance of the City of London, which is London's financial district. We believe that the investment case for residential property investment in Whitechapel is compelling.
Two specific factors underpin the investment case for the area and this specific property.
- The area, which is within walking distance of London’s financial heart, is undergoing a social transformation and looks likely to undergo some of the dramatic gentrification seen in nearby Shoreditch and Hoxton.
- Crossrail station is due to open in Whitechapel in 2018. Crossrail is currently Europe’s largest infrastructure project and represents a major improvement for public transport in London. JLL expect Whitechapel to benefit most from Crossrail driven capital growth over the next 5 years.
You can read more detail on the investment case here.
Property Partner does not provide advice and nothing in this Overview should be construed as investment or tax advice. The information which appears in this Overview is for general information purposes only and does not constitute specific advice.
The property was offered for sale at auction on 3rd December 2014. However, this is a difficult time of year to engage most buyers and the property failed to sell. Suspecting the vendor was motivated to achieve a sale quickly, we made an offer after the auction below guide price and on the basis that we would exchange contracts before Christmas. The timetable slipped slightly to the New Year but we exchanged on 9th January 2015.
The total rent forecast is £22,800 per annum. For prudence we have factored into our forecasts an annual void rate of 3.8%. After accounting for building service charges payable to the Freeholder for block management, maintenance and insurance of the building, the current Gross Rental Yield is 3.42% and Dividend Yield of 2.22% (fully accounting for fees, purchase costs, works provision and corporate taxation). From April 2016 UK taxpayers are entitled to a £5,000 annual dividend allowance. See our FAQs here for more information.
This transaction was approved by our RICS qualified Director of Property.
A large two double bedroom flat with an open-plan kitchen, open-plan sitting/dining room, and one family bathroom.
The flat is slightly below ground level: the ground is at the level of the window sill. The flat extends to 892 Sq Ft (82.9 Sq m).
- Share Valuation
- House Price Index
- Rental Income Breakdown
- Latest Valuation
- Latest Share Valuation
- Latest Property Value
- Amortised Purchase Costs
- Deferred Tax
- - £30,760
- Latest Valuation
Note: The estimates provided do not constitute valuation advice; it remains your responsibility to determine valuation.
The HPI is an official statistic that captures changes in the value of residential properties across England and Wales. It is published by the Land Registry, which is a UK government organisation.
Note: Past performance is not a reliable indicator of future results.
Residential property investment is a total returns product. This information is the income component only. Increasing capital values have historically driven most of the return.
- Gross Rent per year (E)
- Service Charges
- - £1,600
- Gross Rental Revenue
- = £21,200
- Gross Rental Yield
- - £7,668
- Letting and Management
- Property Insurance
- Allowance for possible voids
- Maintenance Allowance
- Corporation Tax
- Dividends per year
- = £13,532
- Dividend Yield
Note: UK taxpayers are currently entitled to a £5,000 annual dividend allowance. This means that the total income related tax you pay is no greater than if you were to own the property directly. Gross rent and dividends may be lower than estimated. Tax treatment depends on individual circumstances and may be subject to change in future. See FAQs for more information on taxation. The Dividend Yield assumes an investment at the Latest Valuation.
Flat 1, 7, Boyd Street, Whitechapel, Whitechapel, E1 1NE,