2, Lotus House 1
2, Lotus House 1
Description & Estimates
Public records show 2, Lotus House 1, Chigwell to be a modern leasehold apartment with 667 ft2 of internal area.
In this area, apartments of this size normally have 2 bedrooms.
2, Lotus House 1, Chigwell has an estimated sale value of £139,967 and an estimated rental value of £869 per month, assuming reasonable condition and based on the information available.
The apartment sits within Lotus House, Lotus Close, Chigwell, IG7.
Lotus Close, Chigwell, IG7 lies in the borough of Redbridge, within the IG7 postal district.
Our Data Sources
2, Lotus House 1, Chigwell has a single entry in the Land Registry from April 2018 and a single entry in the EPC database dated October 2017.
We combine this information with that of neighbouring properties to estimate the property attributes and values.
The local information is scored as 2 out of 5 and is considered of medium accuracy.
Price Range & Condition
In very good condition, we estimate 2, Lotus House 1, Chigwell would be worth £146,965, with a potential rental value of £913 per month.
If substantial cosmetic improvements are needed, the estimated sale value falls to £130,169, with a rental value of £809 per month.
The extent to which decoration affects a property's value depends on its type, size and location.
Recent Market Change
The estimated sale value of 2, Lotus House 1, Chigwell has declined by £2,975 (2.1%) over the last year. During the same period, its estimated monthly rental value has climbed by £30 (3.4%). The property's estimated gross yield is currently 7.5%.
Energy Efficiency
2, Lotus House 1, Chigwell has an Energy Performance Rating (EPC) of B. This is based on the most recent assessment, dated 31 Oct 2017.
The property is not connected to mains gas and has high performance glazing. It is heated using Boiler and radiators, mains gas.
Sold Prices
2, Lotus House 1, Chigwell last changed hands on 5th April 2018, selling for £180,000. The transaction was logged as a leasehold flat by HM Land Registry.
That is its only recorded sale since 1995.
The market for similar properties has risen by 91.2% since April 2018.
- Sold Apr 2018£180,000
Similar Properties Sold Nearby
Land Registry records and our Estate Agent network show 3 sales of comparable properties within 1.4 kilometres of 2, Lotus House 1, Chigwell across the last 2 years.
Most recently, Unit H, The Acorn Centre, Roebuck Road, Ilford, IG6 3TU, a leasehold flat, sold at £625,000 on the 13th February 2024.
Read more about house prices in IG7.
- Sold Feb 2024£625,000 | 2 Bed FlatThe Acorn Centre, Roebuck RoadUnit H, The Acorn Centre, Roebuck Road, Ilford, IG6 3TU
- Sold Jul 2022£760,000 | 2 Bed FlatCromwell Centre, Roebuck RoadUnit 8C, Cromwell Centre, Roebuck Road, Ilford, IG6 3UG
- Sold Jun 2020£179,250 | 2 Bed FlatYarrow House 5, Allerton Grove2, Yarrow House 5, Allerton Grove, Chigwell, IG7 4GS
•Nearby is defined as the radius comprising the nearest 2,000 addresses.
More reading links
Location Comparison
Our analysis of the public data ranks 2, Lotus House 1, Chigwell as the 29th largest and the 30th most expensive of the 36 addresses on Lotus Close, Chigwell, IG7.
Against the IG7 postcode district average, it is £496k less expensive than the typical property.
More reading links
Schools Nearby
- 1.7kmOasis Academy Pinewood
- 1.8kmCoppice Primary School
- 1.9kmSt Patrick's Catholic Primary School
- 1.6kmForest Academy
- 3.0kmBower Park Academy
- 3.4kmThe Warren School
More reading links
Public Transport Nearby
Hainault station is the nearest stop to 2, Lotus House 1, Chigwell at 3.1 kilometres away.
- 3.1kmHainault
- 3.2kmGrange Hill
- 3.5kmFairlop
Available Internet Speeds
Ofcom's latest figures show poor internet coverage in this area, which may mean weak or no connectivity.
According to recent data from Ofcom, Slow/none broadband is available in the area.
Risk of Flooding
Environment Agency data suggests this area has a very low risk of flooding.
