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56 Lechmere Avenue, Chigwell, IG7 5ET - Image 1
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56 Lechmere Avenue, Chigwell, IG7 5ET

London

£585,000Guide Price

Listed on 02/07/2026

Property details

Bedrooms
2
Type
Bungalow

Description

This two-bedroom bungalow presents a valuable opportunity for those looking to invest in a property with significant potential. Located in the desirable Chigwell area, this home has already received planning permission for a loft conversion and rear extension, allowing you to expand its living space. The property is equipped with a rear garden and is well-positioned close to local amenities including shops, restaurants, and transport links to central London via Chigwell and Grange Hill Underground stations. While the interior requires refurbishment, this presents an ideal chance to renovate according to your vision. Additionally, with planning approvals in place for further development, investors can enhance both functionality and value. The property is being offered at auction, making it an appealing option for buyers aiming for a project with considerable upside.

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Investment analysis

(IG7 area)
Area Average
£517/sq ft
Avg Rent (weekly)
£558
Avg Yield
4.0%

Renovation Potential

Medium Refurb
Est. Renovation Cost
£30,000 - £50,000
Note: Renovation cost estimates are AI-generated based on property location and general characteristics, and may not reflect actual costs.
Monthly Sales
17
Average per month
Market Turnover
6%
Properties sold annually

Local Market Trend (IG7)

Area prices are rising by +9.7% over the last 12 months
3 year growth: 0.0%
5 year growth: +2.7%
Investment Disclaimer: Analysis based on IG7 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

56 Lechmere Avenue, Chigwell, IG7 5ET
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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
£2,210
Based on a loan of £438,750 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.

Stamp duty calculator

Next Steps

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