£8 parking space next to Greenwich Station
60% BMV with potential 26% pa ROI
The vendor has moved abroad so no longer needs the parking space and we've secured it for £8k. They did not rent it out, it was used for personal use.
Comparable parking spaces in the area start from £24k so that's a 60% discount.
Parking space rental platform calculators show the potential gross income to be £153 pcm to £187 pcm, although these are likely to be prudent. This is a 26% pa ROI on average.
The lease has 113 years left and there is no ground rent or service charge.
My sourcing fee is £2.5k and I'm a fully compliant, experienced sourcer.
Total Sourcing Fee £2,500
Total £2.5k Sourcing Fee split into:
1. Holding Fee £250
(Due Now)
2. Confirmation Fee £1,000
(Due After 7-Day Due Diligence Period)
3. Completion Fee £1,250
(Due on Completion of the Property Purchase)
Due Diligence
£20k Market Value
Potential Rental Income
Potential Rental Income
Comparable nearby parking spaces are offered for sale starting at £20k. Click the photo above to see parking spaces for sale.
Potential Rental Income
Potential Rental Income
Potential Rental Income
ParkLet says that the potential rental income is around £170 pcm. Click the photo to see the income calculator.
Location
Disclaimer
Disclaimer
The parking space (SE10 9JP) is next to Greenwich Station. Click the link to see the location.
Disclaimer
Disclaimer
Disclaimer
Every effort has been made to ensure the information provided is accurate and factually correct. However, it is important that you conduct your own due diligence and seek independent financial and legal advice, as we are not able to provide such services.
Next Steps
Here are the 3 steps required to secure this property
1. £250 Fully Refundable Holding Fee & 7-Day Due Diligence Period: Upon payment of the holding fee, the property will be taken off the market, granting you a 7-day period to conduct due diligence, including a property viewing. If you choose not to proceed, a full refund will be issued, provided you notify us in writing within 7 days.
2. Confirmation Fee & Conveyancing: If you decide to proceed, you’ll need to pay half of the sourcing fee (minus £250), and the conveyancing process will begin.
3. Completion & Final Fee: Upon completion of the property purchase, the remaining balance of the sourcing fee will be due.
If the vendor withdraws from the sale or legal issues prevent the purchase, a full refund will be provided. However, if you opt not to proceed for any other reason, the refund will not be available.
I'm an experienced & fully compliant property sourcer:
Anna Pearce Ltd - 11384195
PRS reg - PRS037164
ICO reg - ZB402574
HMRC - XXML00000183615
