1 bed flat in Southend City Centre with 6 year Purchase Lease Option for Serviced Accomodation
Close proximity to 2 stations with easy access to Southend Beach, London Stratford/Liverpool Street and London Fernchurch Street
Valued by RICS surveyor at £120,000 in Dec ’23
Agreed Purchase price in 6 years £130,000
Rent – £900PCM rising to £1,050 from year 3
Business Rates (no council Tax) and utilities – £250
Lease Option Fee – £8000
Avg daily Rate for 3 guests – £90 (Breakeven at 53% occupancy )
Profit after expenses at 75% occupancy – £514 per month
Profit after expenses at 85% occupancy – £746 per month
Prop Market Intel gives Average Daily Rate of £105 and occupancy rate of 88%