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Please Tell Me Why This Place Isn't Good Value


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http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

You've got your loose credit specs on! The average income, even in this area, is way off what would be required to pay for that.

Also, portered mansion block = massive service charge = wave goodbye to any profit.

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http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

Hi TTRTR,

Interesting to see you're looking around H&F. Do i take that as a sign you're projecting some capital growth in the Borough? I've been looking around Parsons Green for the last few months. 4 beds for £435k sounds good to me. I avoid using the phrase "value" because, personally, i dont think that exists anywhere in London, but that asking price is similar to many of the prices of 2 bed flats i've been looking at.

Incidentally, although i intend to live in it for the 1st year, i've crunched the numbers on an investment scenario & the flats i've looked at struggle to yield much over 2%. I reckon i need an average of 3%/annum nominal capital growth over 15 years to make it worthwhile on purely financial grounds alone.

Interested to hear your views.

Cheers,

Gort

http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

Additional point:

I presume the block will have a lift & the details mention porterage, so the 1st thing i'd want to know is what's the service charge? I suspect that could have a significant impact on your potential rental stream.

G

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Looks fine on face value... but how long's the lease? If it's <50yrs, it may be a 40k cost to extend to 150yrs.

Handy for the Sloaney Pony, mind.

Do you mean the White Horse, Parsons Green?

I'll be there tomorrow night in fact........fighting through the smoke & scaffolding! :D

PS the 4 bedder is a shared freehold.

G

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Do you mean the White Horse, Parsons Green?

I'll be there tomorrow night in fact........fighting through the smoke & scaffolding! :D

PS the 4 bedder is a shared freehold.

G

It must be next to the tannery or something then. Looks (highly relatively) reasonable to me.

Have fun tomorrow night... and don't forget your rugger shirt!

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http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

TTRTR's

you may be right.

I have seen two bedroom flats in Exeter sell for over £300,000 because they have "executive" in the title and an on suite.

London and you could be right...

London has eeked up about 50% to some areas 300%

Some areas have seen little inflation :)

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TTRTR's

you may be right.

I have seen two bedroom flats in Exeter sell for over £300,000 because they have "executive" in the title and an on suite.

London and you could be right...

London has eeked up about 50% to some areas 300%

Some areas have seen little inflation :)

A good friend of mine bought a 1 bedroom flat around the corner from this one for 275k 3 years ago!

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http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

That looks pretty good. I don't know the road but it's in a great location.

You wouldn't have any trouble finding (good) tenants.

It may have been pitched a bit low to attract lots of attention, but it's looks like good (relative) value.

I wouldn't buy the place as a BTL, but if I was buying that's the type of place I would consider.

It's hardly a bargain, but you could make it cover it's costs.

Edited by BandWagon
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I'd guess the service charge would be upwards of £1500/year.

For 4-beds £435K does look good value for Fulham. I sold my 2-bed mansion flat in Putney for £310K in 2002 (82 year leasehold, riverside, no lift, 4th floor, £800 service charge). Since then the only sale in the block was for £285K.

I think demand for this type of flat may have fallen since 2002.

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http://johnsales.webdadi.biz/details.dtx?p...49-4A3C91074206

4 bed mansion flat in SW6 for 435k. Would probably rent for more than cost.

I live around the conrner, its a great block, very popular with renting professionals. Very short walk to Parsons Green station and the Fulham Road. Very safe area particularly for women even though there is quite a lot of social housing in the area. You could easily get £2500 per month in rent for this property.

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  • 439 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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