Property Summary
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Bedroom: 3
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Bathrooms: 1
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Reception: 1
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Area Sq ft: 957
Property Description
Fraser Bond are delighted to present this substantial three-bedroom flat within Perronet House, a well-regarded residential landmark positioned moments from the South Bank, Elephant & Castle, and Borough. With its generous internal proportions of approximately 947 sq ft, this property represents a rare opportunity to acquire one of the larger units in this highly sought-after block.Property Description
Situated on the 4th floor, Flat 41 offers a well-balanced layout ideal for both end-users and investors. The apartment provides three double bedrooms, spacious reception, separate kitchen, family bathroom, and ample storage. Natural light is a key feature, with large windows maximising views across the SE1 skyline.
While presented in functional condition, the flat would benefit from cosmetic upgrading, enabling incoming purchasers to add value through refurbishment. Comparable units in the building have reached £490,000–£513,000 when modernised, underlining the potential uplift.
Location
Perronet House sits at the heart of Zone 1, within the London Borough of Southwark. Residents enjoy unrivalled connectivity via Elephant & Castle Underground (Northern & Bakerloo lines) and National Rail services, with the City, West End, and Canary Wharf all within easy reach. The area has seen extensive regeneration, with nearby Elephant Park and the South Bank’s cultural quarter driving long-term demand.
Market Positioning
Current Value: Independent analysis suggests a fair market price of £460,000–£500,000, with a mid-range of £467,000.
Comparable Sales: Flat 46 sold for £490,000 (Aug 2023), another unit at £513,000 (Aug 2024).
Zoopla AVM: £507,000–£560,000, central figure £534,000.
£ per sq ft: Circa £506/ft², consistent with the wider block.
Recommended Marketing Price: £475,000, subject to condition and outlook.
Rental & Yield Profile
Estimated Rent: £2,400–£2,500 per calendar month on a standard AST.
Range: £2,267 pcm (basic condition) up to £2,560 pcm (refurbished).
Yield: At £475,000 with £2,500 pcm rent, the gross yield equates to 6.3 %, outperforming the block average (5.3–6.7 %).
Rental Growth: +2.5 % in the past 12 months, underpinned by strong demand for larger units in SE1.
Why This Property
Substantial three-bed apartment in a central Zone 1 location.
Proven capital values in the building up to £513,000.
Rental yields above 6 %, appealing to private landlords, institutional investors, and housing associations.
Positioned within a regeneration hotspot with ongoing capital growth prospects.
