2-bedroom flat · SE16 3FL
For saleReduced £25k (−4.3%) on 6 OctListed 70 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
This is a beautiful, approximately 746sqft (plus 14sqft storage) two double bedroom two-bathroom 5th floor (lift access) apartment with a private balcony in this modern sought after development on Spa Road only a short walk from Bermondsey Jubilee Line station and opposite Enid Street which forms part of the Beer Mile, Spa Terminus, Maltby Street Market, the historic river front area of Shad Thames and within easy walking distance of Bermondsey Street and London Bridge.
The development further benefits from bike storage and superbly presented communal gardens.
The apartment is well arranged with a small central hallway with storage cupboards and access to all rooms, good size bedrooms of which the main has an en-suite shower room, built in wardrobes and access to the balcony and an open plan fully fitted kitchen and living area with floor to ceiling windows and glass doors on to the balcony.
The property has recently had a new boiler installed and new carpets on the bedrooms.
This wonderful development is in an excellent location close to all amenities with the River Thames and Bermondsey Spa Gardens nearby, and Southwark Park is also within easy walking distance.
The imitate area is benefitting from the significant Biscuit Factory development about 5 minutes’ walk away where a fantastic new mix use development is well under way.
This property is being sold with approximately 112-year lease remaining, ground rent is £250pa and service charges are approximately £2,880pa.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About Flat 33, The Porter Building, 130, Spa Road, London
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