Penny Close

Property Overview

Introducing a well-presented one-bedroom first floor flat situated in the quiet and desirable cul‑de‑sac of Penny Close, Rainham. This property offers comfortable living with modern conveniences, making it an ideal purchase for a buy‑to‑let investor seeking a strong and reliable rental return.

The flat benefits from:

• Share of Freehold (87 yearts on lease)
• Gas Central Heating
• Double Glazing Throughout
• Communal Garden
• Quiet Residential Location

Accommodation

The flat is arranged on the first floor and features:

Spacious Living Room

Bright and airy with double‑glazed windows providing excellent natural light.

Fitted Kitchen

Well-designed layout with ample storage and worktop space.

Double Bedroom

Comfortable proportions with views toward the communal garden.

Bathroom

A clean, functional suite with bath and shower facilities.

Lease & Freehold Details

• Share of Freehold – the purchaser becomes part-owner of the freehold along with the other residents.
• Current Lease Term: 87 years remaining.
• Lease Extension: The current owner is in the process of extending or providing a quotation for this; following this, the lease will be extended at an agreed internal rate for all leaseholders.

This gives the incoming buyer excellent long‑term security and value.

Outgoings

• Service Charges: £170 per calendar month
  (Covers maintenance of the estate, communal areas, and building insurance)

Rental & Investment Information

• Current Rental Income: £1,300 per calendar month
• Annual Gross Income: £15,600

Gross Yield Calculation

Purchase Price: £180,000
Annual Rent: £15,600

Gross Yield: 8.66% Gross Yield (approx.)

Outgoing Costs: £2,040 per annum

Net Income: £13,560 per annum

Net Yield: 7.5%

This is an exceptionally strong yield for the Rainham area, making it attractive to buy‑to‑let investors seeking above‑average returns in a stable residential location.

Location

Penny Close is a well-maintained residential cul‑de‑sac conveniently located for:

• Rainham C2C Station (easy access to London Fenchurch Street)
• Local shops and amenities
• Schools and green open spaces
• Quick access to the A13 and A1306

Summary

4 Penny Close offers an excellent combination of value, yield, and long‑term security through its share of freehold. With modern conveniences, strong rental income, and potential for lease extension on favourable terms, this flat represents an outstanding opportunity for both homebuyers and investors.