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London
3 Limeharbour, E14, London

Neighbourhood
Canary Wharf

List Price
£400,000 (£638 psf)
Houzen estm discount 5%
Effective Price £380,000 (£606 psf)
Estm. Transaction Fees £5,700 (£9 psf)
Stamp Duty* - (£0)
Gross Purchase Price £385,700 (£615 psf)
Asking Price £400,000
Target Discount 5.00%
Transaction Fee £5,700 (1.50%)
Down Payment £38,000 (10%)
Cash-on-cash Multiple 1.44x
Total Profit £106,522
Discount Rate 4%

Rent

Est Market Rent £1600
Houzen Rent £1,750
Entry Yield
5.0%
5.4%

*Assuming UK stamp duty holiday

Zen Score : 7.5 / 10

Houzen Rentability Asset Neighbourhood London Weight
Amenities (micro location) 7.7 7.4 6.7 22.5%
Location 7.6 8.0 7.0 22.5%
Property 7.4 7.4 6.9 20.0%
Neighbourhood 7.1 7.0 6.6 17.5%
Eco Sustainability and Wellness 7.4 7.3 6.3 17.5%
Total Score 7.5 7.5 6.70 100.0%

This apartment represents great value and high lettability to investors. A two bed flat located at a stones throw from Crossharbour DLR, 15 minute walk to the Canary Wharf offices and next to a large 24 hour asda superstore.

The development offers 24 hour concierge and underground parking.

  • 2 bed apartment at a great price
  • 24 hour concierge and underground parking
  • View of the O2 Arena and south London
  • 5 minutes from Crossharbour DLR/ 15 minutes from Canary Wharf

Feature

  • 2 bed
  • Lease Hold
  • 2 Bathroom
  • 627 Sq Ft
  • Built 2015
  • Balcony
  • Broadband 25mbps
Distance to Minutes Distance (Miles)
South Quay DLR 4 0.2
Canary Wharf Underground 12 0.6
Crossharbour DLR 8 0.4
Waitrose Superstore 11 0.6
Asda Superstore 8 0.4
Canary Wharf Finance District 14 0.7
Central London via Public Transport 30

Amenities

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Location

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Property

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Neighbourhood

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Sustainability

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Others

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Property Summary

Tenure Leasehold (986 years)
Bed 2
Bath 2
Square footage 627
Year Built/Converted 2015
Last refurbished -
Outdoor Space Balcony
Broadband Speed (estm) 25 mbps

Estimated Financial Return

Cash-on-cash Multiple 1.44x
Income £61,572
Capital Growth £44,950
Total Profit £106,522
IRR 8.0%
Income Yield (Market Rent) 5.0%
Income Yield (Houzen Rent) 5.4%

Purchase and Sale

Debt £226,623
Equity £159,077
Interests £30,698
Fees, Maintanence, Costs £32,928
Profit - £18,676
Net Sales Proceeds £430,650

Tenancy Income

Occupied until Vacant
Current Rent £ -
Market Rent £1,600
Houzen Rent* £1,750
Estimated Uplift 9%

Mortgage and Equity

Gross Purchase Price £385,700
Loan Amount £226,623
Total Equity at Exchange £43,700
Total Equity at Completion £115,377

Capital and Operating Expenses

Initial Refurbishment £5,700
Annual Maintenance Budget £9,025
Service Charge £11,168 (£3.75 psf)
Property Management £5,670
Leasing Fee £1,365
Total Expenses £32,928

Capital Stack

Net Sales Proceeds £430,650
Equity £159,077
Debt £226,623
Total Repayment £257,321
Interest Payments £30,698
Income £61,572
Capital Gains £44,950

SPV / UK Company creation, UK bank opening, accounting and legal all done online for £650 one off and £20 per month. Co-investment or fund creation wealth container for upto 15 investors also available upon request (contact us for more info)

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Transaction

Hold Period 5 years
Stamp Duty Holiday Eligible

Tenancy

Total void over hold period 6 months
Rental Payments Monthly In Advance

Debt

Mortgage 60%
Arrangement Fee 0.40%
Interest Rate 3.00%

Capital Expenditure

Initial Refurbishment £5,700 2%
Internal Maintenance Budget £1,900 1%
Service Charge £2,351
Ground Rent £750 (£3.75 psf)