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Richmond Road, Gillingham, Kent ME7 - Image 1
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Richmond Road, Gillingham, Kent ME7

South East

£80,000
Listed on 07/05/2026

Property Details

Bedrooms
2
Type
Flat

Description

This second floor flat, featuring two separate bedrooms, presents a promising opportunity for astute investors. While the property currently has a short lease and requires updating, it is priced attractively to reflect this potential. The layout includes an entrance hall, a lounge that measures approximately 15'7 x 9'8 (4.75m x 2.95m), two bedrooms with sizes of 11'6 x 11'4 (3.51m x 3.46m) for the larger room and 11'2 x 6'1 (3.41m x 1.86m) for the smaller one, along with a compact kitchen of about 13'0 x 6'5 (3.97m x 1.96m) and a bathroom. Additionally, the flat benefits from allocated parking, which adds convenience in this sought-after South East location. Given its condition and lease status, this property offers significant renovation potential that could yield strong returns on investment.

Investment Analysis

(ME7 area)
Area Average
£300/sq ft
Avg Rent (weekly)
£284
Avg Yield
5.3%

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
50
Average per month
Market Turnover
17%
Properties sold annually

Local Market Trend (ME7)

Area prices are stable by +1.7% over the last 12 months
3 year growth: +2.0%
5 year growth: +13.2%
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 ME7
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Mortgage Calculator

£
£
£
%
%
years

Current average 2-year fixed rate is 3.97%

Current average variable rate is 6.59%

Monthly Repayments
£285
Based on a loan of £60,000 over 30 years at 3.97% 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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