Plaistow is an up-and-coming area of East London with excellent development potential. The announcement of the construction of the ‘Plaistow Hub’ around the station and a £113m investment in construction of new homes in the area has meant that Plaistow was an ideal location for future investment.
This former end-of-terrace 3-bedroom family house is just 3 minutes walk from the station and located in the heart of Plaistow, an area popular with families due to the excellent value for money. The property itself was very dated and required extensive refurbishment to bring it up to modern living standards, however boasted a large wrap-around garden and driveway. This land provided promising potential for further development, and subject to planning permission, was large enough to accommodate a considerable extension or site a new-build house.
In order to be made habitable, the property benefitted from a complete internal refurbishment. It’s excellent transport links, vicinity to local amenities and proximity to the station has meant that the property was immediately rented on a long term basis once released into the rental market.
Purchase cost: £415,000
Refurbishment cost: £65,000
Total cost: £480,000
2020 value: £450,000 (Plus new build)
Rental yield: 4.5%