Description
Key Takeaways: 🔹 Guide price £730,000 + fees 🔹 960-year lease 🔹 Secure parking included 🔹 Projected rent £4,000 PCM (inc. parking) 🔹 Gross rental yield 6.58% [caption id="attachment_16003" align="alignleft" width="500"]
Property for sale A busy city street with red double-decker and single-decker buses, pedestrians crossing, and rows of shops with signs. The bus displays "436 Paddington" as its destination. Buildings have traditional architecture. Presented by Palace Auctions[/caption]
Description
2-Bed Flat Paddington at Peninsula Apartments on Praed Street offers a rare buy-to-let opportunity in the heart of London W2. Nestled on the 6th floor, this sleek apartment features two double bedrooms, a contemporary reception, and a designer bathroom. Moreover, investors will benefit from a 960-year lease, securing long-term asset value. The open-plan living space is flooded with natural light through floor-to-ceiling windows. Additionally, a private underground parking space is included in the rental package, underpinning projected income of £4,000 PCM. With a guide price of £730,000 + fees—versus a smaller comp sold for £870,000 in January 2024—this lot delivers immediate upside. From an income perspective, the gross rental yield is 6.58%, and net yields are 5.36% on purchase price and 5.09% on total investment—outpacing the W2 average yield of 4.7% and the Greater London average of 4.19%. Consequently, this property stands out as a high-yield buy-to-let. For further guidance, see our How to Buy Guide and preview upcoming lots in the Auction Calendar. Local insights are in the Paddington Area Guide.Income
| Metric | Value |
|---|---|
| Purchase Price | £730,000 |
| Stamp Duty (5%) + Legal Fees | £38,500 |
| Total Investment Cost | £768,500 |
| Annual Gross Rental Income | £48,000 |
| Annual Service Charge & Ground Rent | £8,850 |
| Net Annual Income | £39,150 |
| Gross Rental Yield | 6.58% |
| Net Yield (on purchase) | 5.36% |
| Net Yield (overall) | 5.09% |
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| Figure 1: Yield comparison & 5-year ROI projections. |
Location
Peninsula Apartments sits at 4 Praed Street, W2 1JJ, a five-minute walk from Hyde Park and Paddington Station (Bakerloo, Circle, District & Hammersmith & City lines; Heathrow Express). Nearby delights include Little Venice, St Mary’s Hospital, the Paddington Bear Statue and a wealth of cafés and restaurants. For schedule updates, see Transport for London. Outbound Resources:- View the comp sale on Rightmove
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