As updated by Jorgensen Turner in Jan 2023, Apartment 509, 4, Merchant Square East, London is a modern leasehold apartment with a share of the freehold and with 942 ft2 of internal area comprising 3 bedrooms .
The apartment is in 4, Merchant Square East, London, W2.
Merchant Square East, London, W2 is located in the borough of City of Westminster within the W2 postal district.
Based on both the data supplied by Jorgensen Turner and the public information available in the area, we estimate the current sale value for Apartment 509 4 Merchant Square East London as £1,074,150 and the rental value as £5,746 per month giving an expected gross yield of 6.4%.
Jorgensen Turner described the decorative condition as fair in Jan 2023.
Over the last 12 months the sale value of Apartment 509 4 Merchant Square East London has increased by £48,142 (4.5%) and its rental value has increased by £379 per month (6.6%).
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 509, 4, Merchant Square East, London is in very good condition we estimate a sale value of £1,127,858 and rental value of £6,034 per month.
However, if the property needs a lot of cosmetic work we estimate a sale value of £998,960 and a rental value of £5,344 per month.
If you were able to purchase this property for the estimated value of £1,074,150, and assuming a 25 year repayment term, a 15% deposit and a fixed rate of 4.89%, your monthly repayments would be £5,279 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 the Land Registry and our network of Estate Agents, there have been 3 sales of properties similar to Apartment 509, 4, Merchant Square East, London within a radius of 220 metres over the last 2 years.
The most recent example is Flat 319, Peninsula Apartments 4, Praed Street, London, W2 1JE, a Leasehold flat which sold for £1,000,000 in Aug 2023.
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 1 let of a property similar to Apartment 509, 4, Merchant Square East, London within a radius of 220 metres over the last 2 years.
Most recently Apartment 2206, Westmark Tower 1, Newcastle Place, London, W2 1BW, a Leasehold flat let by Saint Andrews Bureau in Jun 2023.
*Nearby is defined as the radius comprising the nearest 2,000 addresses.
Merchant Square East, London, W2 has a total of 154 addresses. According to our analysis of all the public data, Apartment 509, 4, Merchant Square East, London is the 56th largest and the 57th most expensive property on the street.
When compared to the postcode district it is £40k less expensive than the average property in W2.
The closest station to Apartment 509, 4, Merchant Square East, London is Edgware Road station which is 100 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 509, 4, Merchant Square East, 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 509, 4, Merchant Square East, 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 509, 4, Merchant Square East, 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 509, 4, Merchant Square East, 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 509, 4, Merchant Square East, 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.