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

London

£540,000Guide Price

Listed on 17/07/2026

Property details

Bedrooms
2
Type
Bungalow

Description

This two-bedroom bungalow in the desirable Chigwell area presents an exciting opportunity for renovation and extension. With planning permission already secured for a loft conversion and a single-storey rear extension, it offers significant potential to enhance living space. The property includes a rear garden and is conveniently located close to local amenities, including supermarkets and eateries, as well as easy access to Central London via nearby Underground stations. The bungalow requires refurbishment, making it a perfect project for investors or those looking to create their ideal home. Notably, additional planning has been granted for the conversion of the garage into habitable space, further expanding its potential.

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 - £60,000
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
£2,040
Based on a loan of £405,000 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

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