Keir Hardie Way, Barking, IG11 9NU
Tenanted Buy-to-Let Investment Opportunity
Asking Price: £245,000
Investment Overview
Pure Investor is pleased to offer for sale this well-presented, tenanted 2-bedroom third-floor flat in Barking, a highly sought-after area with excellent transport links to Central London. This is a fantastic opportunity for investors seeking a reliable rental income and long-term capital growth.
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Current Rental Income: £1,700 per calendar month
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Tenancy Commenced: August 2024
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Lease Term Remaining: 88 years
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Ground Rent: £10 per year
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Service Charges: £2,040 per annum (includes building insurance)
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Net Income: £18,350
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Net Yield: 7.5%
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Net Yield With Lease Extension Included: 7.3%
Key Features
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2 Bedrooms – bright and spacious
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Bathroom & Separate W/C
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Gas central heating & double glazing
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EPC Rating: D
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Council Tax Band: B
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Conveniently located close to Barking Station, offering District Line access to the City
Property Description
This third-floor flat offers a practical layout ideal for tenants or buy-to-let investors. The reception room flows onto a private balcony, while the fitted kitchen/diner provides a functional and modern space. Two good-sized bedrooms, a bathroom, and a separate W/C complete the accommodation. The property benefits from gas central heating and double-glazed windows throughout.
Leasehold Details
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Original Lease: 125 years from 8th May 1989
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Years Remaining: Approximately 88
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Annual Ground Rent: £10
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Annual Service Charges: £2,040 (including building insurance)
Lease Extension Benefits:
Estimated Costs for Lease Extension:
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Premium: Subject to valuation
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Council Legal Fees: £2,000–£2,500
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Surveyor’s Fee: Approx. £750
A lease extension will enhance long-term investment value and secure the property’s future income potential.
Investment Highlights
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Tenanted with long-term rental income of £1,700 pcm
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Strong rental yield potential
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Well-presented and maintained
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Excellent transport links via Barking Station
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Secure leasehold investment with potential for lease extension
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