According to the public record, Apartment 1408, 3, Merchant Square, London is a modern leasehold apartment with 1,237 ft2 of internal area.
Apartments of this size in this area normally have 3 bedrooms with a balcony.
The apartment is in 3, Merchant Square, London, W2.
Merchant Square, London, W2 is located in the borough of City of Westminster within the W2 postal district.
Apartment 1408, 3, Merchant Square, London has a single entry in the Land Registry database from August 2023 and a single entry in the EPC database dated July 2014.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
Based on public information available, and assuming the property is in reasonable condition, we estimate the current sale value for Apartment 1408 3 Merchant Square London as £1,958,480 and the rental value as £7,967 per month giving an expected gross yield of 4.9%.
Over the last 12 months the sale value of Apartment 1408 3 Merchant Square London has increased by £67,057 (3.4%) and its rental value has increased by £454 per month (5.7%).
Decorative condition can have a big effect on a property's value and this effect varies depending on the type, size and location of the property.
If Apartment 1408, 3, Merchant Square, London is in very good condition we estimate a sale value of £2,056,404 and rental value of £8,366 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £1,821,386 and a rental value of £7,410 per month.
If you were able to purchase this property for the estimated value of £1,958,480, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £9,625 per month.
This figure is only an estimate but we've partnered with Mortgage Advice Bureau who can provide a figure tailored for you! Get started using their mortgage finder below.
According to HM Land Registry, Apartment 1408, 3, Merchant Square, London was last sold on 31 Aug 2023 for £2,200,000 and was recorded as a leasehold flat.
The property has only had this single sale since 1995.
Since Aug 2023, the market for similar properties has risen 3.4%
According to the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Apartment 1408, 3, Merchant Square, London within a radius of 220 metres over the last 2 years.
The most recent example is Apartment 1409, 3, Merchant Square, London, W2 1BF, a Leasehold flat which sold for £2,510,000 in Mar 2024.
Read more about house prices in W2.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Our network of Estate Agents report 2 lets within a 220 metres radius of Apartment 1408, 3, Merchant Square, London over the last 2 years.
Most recently Apartment 910, Westmark Tower 1, Newcastle Place, London, W2 1EF, a Leasehold flat let by Saint Andrews Bureau in Aug 2023.
Merchant Square, London, W2 has a total of 156 addresses. According to our analysis of all the public data, Apartment 1408, 3, Merchant Square, London is the 29th largest and the 23rd most expensive property on the street.
When compared to the postcode district it is £844k more expensive than the average property in W2.
Apartment 1408, 3, Merchant Square, London has an Energy Performance Rating (EPC) of B. This is based on the most recent assessment, dated 16 Jul 2014.
The property is not connected to mains gas and has high performance glazing. It is heated using a community scheme.
The closest station to Apartment 1408, 3, Merchant Square, London is Edgware Road station which is 200 metres away.
According to data from the Environment Agency, the flood risk in this area is considered to be very low.
The recent census recorded whether a resident owned or rented their home.
In the area around Apartment 1408, 3, Merchant Square, London, 46.4% of property is privately rented and 16.1% is shared ownership.
The graph below shows how this compares to Greater London and the rest of England & Wales.
The recent census recorded the highest level of education achieved by residents in the local area.
In the area around Apartment 1408, 3, Merchant Square, London, 25.2% of residents are recorded as possessing school level qualifications and 65.6% as possessing degree level qualifications.
The graph below shows how this compares to Greater London and the rest of England & Wales
The most recent census in 2021 recorded the age of all UK residents.
In the area around Apartment 1408, 3, Merchant Square, London, the average age was 37.1 and the most common age was 22.
The graph below shows how this compares to Greater London and the rest of England & Wales
The recent census recorded whether a property was a primary or secondary home for the resident.
In the area around Apartment 1408, 3, Merchant Square, London, 4.4% of property was a second home.
Comparison figures for Greater London and the rest of England & Wales are listed below.
The recent census recorded the number of cars registered in each household.
In the area around Apartment 1408, 3, Merchant Square, London, there are an average of 0.4 cars per household.
See below for how this compares to Greater London and the rest of England & Wales.