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Richmond Road, Gillingham, Kent - Image 1
Richmond Road, Gillingham, Kent - Image 2
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Richmond Road, Gillingham, Kent

South East

£80,000
Listed on 10/04/2026

Property Details

Bedrooms
2
Type
Flat

Description

This two-bedroom flat, situated on the second floor, presents a valuable investment opportunity. With the property featuring a short lease and in need of some modernization, it is ideally positioned for an investor looking to add value. The layout includes an entrance hall, a lounge measuring 15'7 x 9'8 (4.75m x 2.95m), two bedrooms, a bathroom, and a kitchen that is 13'0 x 6'5 (3.97m x 1.96m). Additionally, allocated parking is available for convenience. Given the condition of the flat and its current lease status, there is significant potential for renovation and appreciation in value with the right updates.

Investment Analysis

(ME7 area)
Area Average
£300/sq ft
Avg Rent (weekly)
£273
Avg Yield
5.2%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£15,000 - £25,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
51
Average per month
Market Turnover
19%
Properties sold annually

Local Market Trend (ME7)

Area prices are rising by +3.6% over the last 12 months
3 year growth: +2.0%
5 year growth: +16.0%
Investment Disclaimer: Analysis based on ME7 area averages and may not reflect property-specific factors like condition, exact location, or unique features. Any renovation cost estimates provided are AI-generated and should be considered indicative only. 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

Richmond Road, Gillingham, Kent
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.91%

Current average variable rate is 6.62%

Monthly Repayments
£283
Based on a loan of £60,000 over 30 years at 3.91% interest

These results are estimates and are only intended as a guide. Make sure you obtain accurate figures from your lender before committing to any mortgage. Your home may be repossessed if you do not keep up repayments on a mortgage.

Stamp Duty Calculator

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