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Defence Close, Thamesmead, London, SE28

Rightmove Sector: SE28 8

                    £290,000
                

asking price

vs Benchmark

-19%

below Sector Median

Est. £/sqft

£402

benchmark £463/sqft

Investment Score

6/10

good

Days on Market

days listed

Suggested Offer Range

Low offer

£261,000

£29,000 below asking

Target offer

£269,700

£20,300 below asking

High offer

£281,300

£8,700 below asking

Close to comparable sales mean. Standard 3–10% negotiation range.

Suggested range is based on Land Registry median data and is not financial advice. Always conduct your own due diligence.

📷 No photos available for condition analysis.

Property Details

Asking Price: £290,000
Property Type: Penthouse
Bedrooms: 2
Bathrooms: N/A
Est. Floor Area: 721 sqft (est.)
Article 4 Area: ✓ No restriction — SA permitted under PD rights

-19.4% vs Sector Median (n=162 sales)

This listing is priced below the postcode sector benchmark.

Motivated Seller Analysis

Standard — 3/10

Behavioural signals: 62 days on marketBelow market value

💸 Mortgage & Financing

Recommended LTV	75.0%
Indicative Rate	4.99%
Monthly IO Payment	£904
ICR (actual)	2.08x
Feasibility	PASS
💲 Total Cash Required
Purchase Price	£290,000
Deposit (25% — 75% LTV)	£72,500
SDLT (additional property, 5% surcharge)	£19,000
Legal fees (est.)	£1,500
Survey (est.)	£500
Arrangement fee (est.)	£999
Total cash required	£94,499

Legal and survey fees are estimates. SDLT applies 5% additional-property surcharge (Oct 2024 Budget). Not financial advice.

🔄 BRR Refinance Stress Test

✓ Passes stress test Rent covers 1.9x monthly interest — lender likely to approve.

Purchase price	£290,000	Loan (75% LTV)	£217,500
Rate (IO)	5.5% p.a.	Monthly interest	£997
Rent needed (1.5×)	£1,495/mo	Estimated rent	£1,882/mo
Stress ratio	1.89× (need ≥ 1.5×) +£387 surplus

Assumptions: 75% LTV · 5.5% interest only · 1.5× rent coverage (standard lender requirement). Actual lender criteria vary — verify with your broker.

Exit Strategy

Capital appreciation projections at 2.5% pa (local Land Registry HPI). Assumes 75% LTV interest-only mortgage redeemed on sale. Excludes rental income.

BRRR Strategy

? Score Photos

Est. reno cost	Unknown — score listing
Cash left in deal	Unknown

R2SA / SA Strategy

⚠ Review

SA gross/mo	£1,634
SA net/mo	£1,288
BTL est./mo	£1,883
SA vs BTL uplift	£-249/mo

Hold Period	Est. Sale Price	Capital Gain	Net Proceeds	Total Return
3 years	£312,298	+£22,298	£83,982	+£11,482 (4.0%)
5 years	£328,108	+£38,108	£95,761	+£23,261 (8.0%)
7 years	£344,719	+£54,719	£108,136	+£35,636 (12.3%)

Break-even Horizon

47 months

Medium-term (3–5 years)

Flip Viability

Viable

Comp median: £371,000 — margin: +£81,000

Projections: 2.5% pa HPI, 75% LTV IO mortgage redeemed at sale, 1.5% EA, £1,500 legal, 24% CGT above £3k allowance. Not financial advice.

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Location

Subject property Planning applications

Comparable Sales in SE28 8

Address	Type	Beds	Price	£/sqft	Date	Distance
33, BOOTH CLOSE, SE28 8BW	Terraced	3	£371,000	£348	13/03/26	1.14 mi
156, GREENHAVEN DRIVE, SE28 8FU	Terraced	3	£465,000	£404	12/03/26	1.24 mi
22, SUMMERTON WAY, SE28 8QX	Terraced	2	£330,000	£511	06/03/26	1.86 mi
65, REDBOURNE DRIVE, SE28 8SG	Terraced	3	£200,000	£172	06/03/26	1.73 mi
18, WHERNSIDE CLOSE, SE28 8HB	Terraced	2	£375,000	£441	06/03/26	1.50 mi
34, COURTLAND GROVE, SE28 8PB	Terraced	0	£403,500	£1111	06/03/26	1.78 mi
10, PARADISE PATH, SE28 8SP	Flat	1	£255,000	£474	27/02/26	0.68 mi
10, PARADISE PATH, SE28 8SP	Flat	1	£255,000	£474	27/02/26	0.68 mi
54, FIELDFARE ROAD, SE28 8HR	Flat	1	£180,000	£328	26/02/26	1.48 mi
50, COURTLAND GROVE, SE28 8PB	Terraced	1	£380,000	£654	20/02/26	1.78 mi

■ Above subject ■ Below subject

Based on 10 comparable sales — Full Range (grey) · Typical IQR (blue) · Fair Value CI (light blue) · | Median · | Mean · Asking (▲)

ⓘ Bedroom counts are not available from Land Registry records. Comparables are matched by postcode sector and property type only.

📈 Rental Yield & ROI Forecast

Compound-growth projection: 2.5% annual rent growth + 3% capital growth. IO mortgage throughout. For illustration only.

10-Year Projection

Break-even: Year 1 5yr IRR: 7.5%

Year	Est. Rent/yr	Est. Value	Net Income/yr	Cum. Cashflow	Total Return	ROI on Cash Invested
Yr 1	£22,591	£298,700	£15,821	£4,946	£13,646	14.3%
Yr 3	£23,735	£316,891	£16,644	£16,067	£42,957	44.9%
Yr 5	£24,936	£336,189	£17,509	£28,897	£75,086	78.5%
Yr 10	£28,213	£389,736	£19,868	£69,029	£168,765	176.5%
Yr 15	£31,920	£451,811	£22,538	£121,872	£283,683	296.7%
Yr 20	£36,115	£523,772	£25,558	£189,097	£422,869	442.3%
Yr 25	£40,861	£607,196	£28,975	£272,594	£589,789	616.9%
Yr 30	£46,230	£703,906	£32,841	£374,500	£788,406	824.7%

ROI on Total Cash Invested (deposit + SDLT + acquisition costs). Assumes IO mortgage, no tax, no refinancing. Actual returns will vary.

Planning Applications Nearby (within 0.5 miles)

● 26/1576/CP 0.16 mi

Certificate of Lawfulness (Proposed) is sought for Change of use from Residential Dwelling (Class C3) to Residential Car

2 MERBURY ROAD, THAMESMEAD, LONDON, SE28 0HR

Undecided

● 26/1646/CP 0.2 mi

Certificate of Lawfulness (Proposed) is sought for Change of use from dwelling (Class C3) to a supported living accommod

78 PRINCESS ALICE WAY, LONDON, SE28 0HQ

Undecided

● 26/1347/SD 0.24 mi

Submission of details pursuant to the discharge of condition 4 (Operational Management Plan) of planning permission date

27 NEWACRES ROAD, LONDON, SE28 0LD

Undecided

● 26/1476/CE 0.29 mi

Certificate of Lawfulness (Existing) is sought to confirm the use class of the existing site as a restaurant (Use Class

PRINCESS ALICE, BATTERY ROAD, THAMESMEAD, LONDON, SE28 0JS

Undecided

● 26/1269/HD 0.4 mi

Conversion of the existing garage into habitable accommodation and erection of a single-storey rear extension and associ

70 KENTLEA ROAD, LONDON, SE28 0JZ

Undecided

View all planning applications on your dashboard →

● Approved ● Pending ● Refused

🌎 Area Profile — SE28 8 ⓘ What are deciles?

IMD (Overall)

                5/10
            

Mid deprivation

Crime

                4/10
            

Mid deprivation

Income

                3/10
            

High deprivation

Employment

                4/10
            

Mid deprivation

Education

                7/10
            

Low deprivation

Housing Barriers

                3/10
            

High deprivation

Rural/Urban

Mixed

📊 Investment Skill Analysis

Net Yield

5.5%

Gross:7.8%

Mortgage

PASS

75% LTV · 5.0% rate

Survey Risk

Low Risk

Score: 1/10

SDLT (Additional)

£19,000

6.5% effective rate · Company: £19,000

Void Risk

Medium

~5 weeks/year

Statistical CI (65%)

£292,105 –£350,795

vs Comparable Mean:-9.8%· n=10

Best Strategy

AST (Standard BTL)

£1,349/mo

📊 SE28 market data →

SPV Tax Saving

£3,817/yr

Breakeven: — years

5-Year IRR

7.5%

IRR — Moderate

Scenario Analysis

Scenario	Monthly Rent	Gross Yield	Net Yield	Cashflow/mo	IRR 5yr
Bear	£1,600	6.6%	4.1%	£-175	-7.3%
Conservative	£1,750	7.2%	4.9%	£191	3.0%
Base	£1,882	7.8%	5.5%	£412	7.5%
Optimistic	£2,033	8.4%	6.1%	£651	12.6%
Bull	£2,221	9.2%	6.8%	£926	19.1%

Detailed Analysis

💸 Yield & Returns

Gross Yield	●7.79%
Net Yield	●5.45%
Net Annual Income	£15,815
Deductions: void 8% (−£1,807) · mgmt 10% (−£2,259) · maint 10% (−£2,259) · fixed costs ins.+gas+EPC (−£445)
Monthly IO Mortgage	£904
Monthly Cashflow (IO)	●£414
Cash-on-Cash Return	●5.17%
5-Year IRR	●7.5%

● Above benchmark ● Near benchmark ● Below benchmark

💰 Tax Analysis

SDLT (Additional Property)	£19,000
SDLT Effective Rate	6.55%
SDLT (Company)	£19,000
Section 24 Extra Tax/yr (higher rate)	£2,175
SPV Annual Saving	£3,817
SPV Breakeven	— yrs
CGT Projected Sale (5yr)	£336,189
Less: Purchase Price	−£290,000
Less: Buying Costs (SDLT + legal)	−£21,600
Less: Selling Costs (est. 2.5%)	−£8,405
= CGT Net Gain (5yr)	£16,184
CGT at 24%	£3,164

📈 Scenario Analysis

Scenario	Monthly Rent	Gross Yield	Net Yield	Cashflow/mo	IRR 5yr
Bear	£1,600	6.6%	4.1%	£-175	-7.3%
Conservative	£1,750	7.2%	4.9%	£191	3.0%
Base	£1,882	7.8%	5.5%	£412	7.5%
Optimistic	£2,033	8.4%	6.1%	£651	12.6%
Bull	£2,221	9.2%	6.8%	£926	19.1%

📊 Analysis Report (PDF) 📊 Download CSV

PropertyAlert.uk is not affiliated with any property portal. Analysis is based on publicly available Land Registry data and EPC certificates. This report is for informational purposes only and does not constitute financial advice. Analyse another property →

Defence Close, Thamesmead, London, SE28