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Millman Street, WC1N

London

£650,000

Listed on 24/06/2026

Property Details

Bedrooms
4
Type
Flat
Area
953 sqft

Description

This second-floor flat in Bloomsbury offers a robust opportunity for refurbishment. Encompassing 953 square feet, the property features four bedrooms, two shower rooms, a separate reception area, and an independent kitchen. Housed within a period building, it has great potential for investors looking to create a desirable living space in a prime location. The layout is conducive to professional or student sharing, making it attractive for rental purposes. With proximity to major transport links and local amenities, there is significant demand from tenants associated with nearby universities, legal institutions, and healthcare facilities. This project requires comprehensive upgrades as the services and appliances are untested and will necessitate complete attention. Although it's currently structured as leasehold with 99 years remaining, future improvements could greatly enhance both livability and market value.

Investment Analysis

(WC1 area)

Below Market Value

This property is priced -41.3% below area average per sq ft

-41.3%
Potential saving
This Property
£682/sq ft
Area Average
£1,162/sq ft
Avg Rent (weekly)
£727
Avg Yield
4.3%

Renovation Potential

Heavy Refurb
Est. Renovation Cost
£60,000 - £90,000
Target Value
£1,217,758
10% above area average per sq ft
Potential ROI
+64.6%
After renovation
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
11
Average per month
Market Turnover
4%
Properties sold annually

Local Market Trend (WC1)

Area prices are falling by -11.2% over the last 12 months
3 year growth: -26.1%
5 year growth: -29.4%
Investment Disclaimer: Analysis based on WC1 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

Millman Street, WC1N
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 4.45%

Current average variable rate is 6.60%

Monthly Repayments
£2,456
Based on a loan of £487,500 over 30 years at 4.45% 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.

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