Investors paid 17.29p per share in the New Listing for this property, and it became available on the Resale market June 15th 2015.
We believe that Plumstead, and this maisonette, have a compelling investment case underpinned by three factors:
- The ongoing transformation of Plumstead and surrounding areas, ought to have a significant impact on long-term prospects for the area.
- The benefit of access to Crossrail stations at Woolwich and Abbey Wood in 2018. The decrease in journey times to central London is expected to have an impact on local GDP, which is a key driver of house prices and rental values.
- Property prices in Plumstead are lower than surrounding areas. As residents in South-East London seek better value, and reduced travel times, Plumstead is well placed to benefit from capital growth.
Read more 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 maisonette was acquired vacant. The Chartered Surveyor’s Report highlights issues, including the need to replace four windows, service the hot water tank and replace an electric heater, over the coming years. We have made a provision of £1,500 to accommodate these.
The total rent forecast is £10,200 per annum. After accounting for building service charges payable to the Freeholder for block management, maintenance and insurance of the building, this equates to a Gross Rental Yield of 5.08% and a forecast Dividend Yield of 3.25% (fully accounting for purchase costs, furnishings, remedial cosmetic works, forecast maintenance, annual voids, corporate taxation and all fees). From April 2016 UK taxpayers are entitled to a £5,000 annual dividend allowance. See our FAQs here for more information.
Due to over performance against historic provisions, there is surplus cash within the SPV. This is being returned to investors through the dividend over the remainder of the 5 year term. In the "Financials" section below, under "Rental Income Breakdown", we have shown the impact of returning this cash as a negative number in the "Property Insurance" line (presentation within Property Insurance is a temporary measure whilst our platform is updated to add a new descriptor).
For prudence, we haven’t included any growth in rental values in our forecasts. However, it is worth noting that Savills forecast rental growth for London (excluding ‘prime’ central London markets) of 29.5% over the next five years.
This transaction was approved by our RICS qualified Director of Property.
A one-bedroom first-floor maisonette with its own front door onto the street. The maisonette has an open plan living room, kitchen and a separate bathroom.
The maisonette has an allocated off-street parking bay and communal gardens to the rear of the property.
There are two cupboards on the ground floor, one of which belongs to this property and the other of which is for use by another property. The cupboard contains utility meters.
- Share Valuation
- House Price Index
- Rental Income Breakdown
- Latest Valuation
- Latest Share Valuation
- Latest Property Value
- Amortised Purchase Costs
- Deferred Tax
- - £3,378
- 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
- - £540
- Gross Rental Revenue
- = £9,660
- Gross Rental Yield
- - £3,291
- Letting and Management
- Property Insurance
- Allowance for possible voids
- Maintenance Allowance
- Corporation Tax
- Dividends per year
- = £6,369
- 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.
19 Philimore Close, Woolwich, London, SE18 1PN,