Latest Valuation
£800,000
ROCE
52%
Selling Agent
Sourced Bexley

17% BMV – Refurb Into 6 Bed HMO or Refurb and Sell

Spacious Four Bed Detached Home
Guide Price
£670,000

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Key Features

  • Minor Refurb
  • Buy to Sell for Profit
  • Desirable Area
  • Postcode is Hot Sellers Market
  • 17% BMV
  • Up to 52% ROCE

The Property

Spacious Four Bed Detached home with the following:
Large Entrance Hal
Reception Room
Dining Room
Conservatory
Breakfast Room
Fitted Kitchen
Four Large Bedrooms
Family Bathroom
Separate Shower Room
South Facing Garden
Garage and Off-Street Parking
Close to West Wickham High Street
Oak Lodge Primary and Langley Secondary Schools Nearby.

The Financials:

CASH IN
Purchase Price: £663,000
Current Value: £800,000
Sourcing Fee: £13,300
Monthly Rental Income: £2,000
Annual Rental Income: £24,000
Deposit £165,750 (25%)
Legals: £1,500
Stamp: £43,040

Total CASH IN to Purchase £223,590 (loan £497,250)
TOTAL inc. loan TO PURCHASE = £720,840

LIGHT REFURB and SELL
Light Refurb: £20,000
Selling Price: £825,000
Profit : £84,160 (£825,000 - £740,840)
ROCE: £841,60 / £243,590 = 35%

MAJOR REFURB and SELL
Major Refurb with Extension: £90,000
Selling Price: £975,000
Profit: £164,160 (£975,000 - £810,840)
ROCE: £164,160 / £313,590 = 52%

Conversion into 6 Bed HMO En-Suite or 6 Micro Flats / Studios and HOLD
Major Refurb: £100,000
Rental Return
- as a 6 bed HMO: £4,000 pcm / £48,000 pa
- as 6 studios: £800 each - £4,800 pcm - £57,600 pa - and the tenant pays all bills.

Planning Information

N/A

The Plan

The Financials:

CASH IN
Purchase Price: £663,000
Current Value: £800,000
Sourcing Fee: £13,300
Monthly Rental Income: £2,000
Annual Rental Income: £24,000
Deposit £165,750 (25%)
Legals: £1,500
Stamp: £43,040

Total CASH IN to Purchase £223,590 (loan £497,250)
TOTAL inc. loan TO PURCHASE = £720,840

LIGHT REFURB and SELL
Light Refurb: £20,000
Selling Price: £825,000
Profit : £84,160 (£825,000 - £740,840)
ROCE: £841,60 / £243,590 = 35%

MAJOR REFURB and SELL
Major Refurb with Extension: £90,000
Selling Price: £975,000
Profit: £164,160 (£975,000 - £810,840)
ROCE: £164,160 / £313,590 = 52%

Conversion into 6 Bed HMO En-Suite or 6 Micro Flats / Studios and HOLD
Major Refurb: £100,000
Rental Return
- as a 6 bed HMO: £4,000 pcm / £48,000 pa
- as 6 studios: £800 each - £4,800 pcm - £57,600 pa - and the tenant pays all bills.

The Location

5 min walk from the High Street

15 min walk to West Wickham Train Station

30 minutes from London Bridge

Average estimated value for a house in BR1

£125,000

Reputable primary and junior schools
West Wickham has some of the most reputable primary and junior schools in the Bromley Borough, both state and private, including Oak Lodge Primary, Pickhurst and Hawes Down Infant and Junior schools and Wickham Common Primary. Pickhurst Academy is particularly popular and has been judged “outstanding” by Ofsted. Among the independent schools are St David’s College and Wickham Court School.

Great transport links to London
West Wickham makes an ideal location for commuters who want to live on the outskirts of London in a quiet area and find value for money. West Wickham station links to Cannon Street, Charing Cross and London Bridge in under 40 minutes. There is also an extensive network of bus services linking with Bromley, Croydon, Hayes and Beckenham. All cyclists will be pleased to know that there are 54 bicycle spaces at West Wickham station so you can cycle to the station, before hopping on the train.

Green spaces
West Wickham has a number of parks including West Wickham Common offering 25 acres of heathland within the London Green Belt. This area is recognised as an area of national importance as it contains ancient woodland, wildflower meadows, ponds and some magnificent trees. There are also recreation grounds and open spaces with excellent play areas for children and sports facilities such as Blake and Coney Hall Recreation Grounds. There is also Spring Park and Sparrows Den, which is home to the Beccehamian RFC club.

Independent stores, pubs and cafés
West Wickham and Hayes boast a range of local independent stores, pubs and cafés. In West Wickham there are restaurants that offer a diverse range of cuisines from authentic Italian restaurants such us GI Trattoria Italiana and Topolino, to Mediterranean Prima Donnas and the delicious Turkish Marmaris. And of course the famous pub The Swan where Ben Haenow winner from X-Factor 2014 used to perform.
In Hayes you can head to Ginger for an exquisite Indian cuisine or to Miller & Carter for a unique steakhouse experience.

Leisure and sport facilities
West Wickham is home to one of London’s finest golf clubs, the Langley Park Golf Club with 120 acres of green space. West Wickham is also home to Beccehamians RFC, a rugby union club founded in 1933, Wickham Park Tennis Club and West Wickham Leisure Centre with an indoor swimming pool. Other clubs nearby include Croydon RFC (formerly Shirley Wanderers).