Capital Homes Under The Hammer: High Rise High Yield Investments

‘Cheap flats in London’ is not really a phrase you often hear, but they can be found if you’re willing to go *up* – and ex-council.

High rise blocks may not be at the top of every home buyer’s wish-list – but they can offer London living for less – and for an investor; high rental returns, for a lower capital purchase price.

Lending on high rise blocks of flats can be more difficult, and so it’s critical you check with a mortgage provider before you bid to buy.

Here are three high rise opportunities which are soon to be sold under the hammer:

Flat 28, Stellar House, 900 High Road, Tottenham, London, N17 0DZ

This three bedroom, sixth floor flat is guided at £90k.  Held on a long lease – 125 years from 2003 at a ground rent of £10 per annum.  The rental stacks nicely with the property rented on an AST from 9/8/2014 at £1,313 pcm (£15,756 per annum).  Bought at guide that’s a gross rental yield of: 17.51%

Flat 37, Penton House, Hartslock Drive, Abbey Wood, London, SE2 9UZ

A four bedroom flat for a guide of just £90k – there’s got to be a catch?  Well, it is on the 10th floor of this concrete build!  However, it benefits from a long lease; 125 years from 1988 with a ground rent of £30 per annum.  It’s currently tenanted at £1,343 pcm (£16,116 per year).  Bought at guide that’s a gross rental yield of: 17.91%

Flat 50, Bridport House, Colyton Way, Edmonton, London, N18 2XJ

Guided at £105k, this three bedroom duplex maisonette is located on the 10th and 11th floor of this block.  Held on a long lease; 125 years from 2002 at a ground rent of £10 per year.  The property is currently tenanted at £300 per week (£15,600 per annum).  Bought at guide that’s a gross rental yield of: 14.86%