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Hope Park, Bromley, Bromley

South East

£275,000
Listed on 06/09/2025

Property Details

Bedrooms
2
Type
Flat
Area
592 sqft

Description

This two-bedroom flat on the first floor presents a compelling opportunity for renovation and investment. Located in Bromley, the property is well-positioned near Bromley North Station and the vibrant Bromley Town Centre, making it an attractive choice for commuters and those who appreciate urban amenities. Upon entering through the communal entrance, you'll find a hallway that includes a convenient storage closet. The spacious reception room features floor-to-ceiling windows, allowing ample natural light and creating an inviting atmosphere that could be enhanced through thoughtful updates. There's enough room to incorporate a dining area, making it suitable for both everyday living and entertaining. The separate kitchen comes equipped with a range of wall and base units, a gas hob, under-counter oven, and space for essential appliances such as a washing machine and fridge/freezer. With some modern touches, this space can be transformed into a functional culinary hub tailored to your tastes. The master bedroom is generously sized and includes mirrored wardrobes, while the second bedroom offers additional flexibility for guests or home office use. The family bathroom is fully tiled and features a shower over the bath along with standard fixtures like a washbasin and WC—updates here could enhance both style and functionality. Further benefits of this flat include gas central heating, double-glazed windows, and an en bloc garage providing convenient parking or additional storage options. With approximately 155 years remaining on the lease, a quarterly service charge of £230.42, and minimal ground rent set at peppercorn, this property offers manageable ongoing costs for potential buyers or investors. Situated within close proximity to Hope Park as well as Bromley's extensive high street offerings—including shops, bars, restaurants, and leisure facilities—this location provides not only convenience but also strong rental potential given its appeal to tenants seeking easy access to urban amenities. Additionally, Bromley North and Bromley South stations offer excellent transport links to central London. In summary, this flat's renovation needs present an opportunity for customization while benefiting from its prime location in a rapidly developing area—a promising prospect for investors looking to add value through strategic updates.

Investment Analysis

(BR1 area)

Below Market Value

This property is priced -9.0% below area average per sq ft

-9.0%
Potential saving
This Property
£465/sq ft
Area Average
£510/sq ft
Avg Rent (weekly)
£411
Avg Yield
4.1%

Renovation Potential

Est. Renovation Cost
£27,500 - £68,750
10-25% of property value
Target Value
£332,242
10% above area average per sq ft
Potential ROI
-3.3%
After renovation
Monthly Sales
36
Average per month
Market Turnover
37%
Properties sold annually

Local Market Trend (BR1)

Area prices are rising by +2.1% over the last 12 months
3 year growth: 3.7%
5 year growth: 11.5%
Investment Disclaimer: Analysis based on BR1 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Renovation costs vary significantly based on property condition and scope of work. Always conduct professional surveys and get multiple quotes before making investment decisions.

Location

Hope Park, Bromley, Bromley
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