For sale Flat

Praed Street

LONDON, W2, W2 1JL

3 beds 2 baths Listed 30 Sep 2025 (-334d)

£1,150,000

Reduced on 11 Nov 2025

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# 3 bedroom flat for sale (W2 1JL)

## Property Details

| Key | Value |
|-----|-------|
| Address | Praed Street, LONDON, W2, W2 1JL |
| Price | £1,150,000 |
| Bedrooms | 3 |
| Bathrooms | 2 |
| Council tax | G |
| Last sold | £1,000,000 |

## Description

There is also the added bonus of a secure underground car space, lift and concierge service in this building.

**Situation**

Balmoral Apartments forms part of this popular modern waterside development in Paddington Basin.

Located within close proximity of Hyde Park, nearby transport links include Edgware Road (Circle, District and Bakerloo lines), Lancaster Gate (Central line), Marble Arch (Central line) and Paddington Station (Bakerloo, Hammersmith & City, Circle, District lines and Heathrow Express).

Nearby landmarks include Oxford Street where the famous Selfridges Store can be found.** Property Ref Number: **

HAM-60056

## Property Photos

- ![Photo](/listings/photos/167589773/2088960)
- ![Photo](/listings/photos/167589773/2088961)
- ![Photo](/listings/photos/167589773/2088962)
- ![Photo](/listings/photos/167589773/2088963)
- ![Photo](/listings/photos/167589773/2088964)
- ![Photo](/listings/photos/167589773/2088965)
- ![Photo](/listings/photos/167589773/2088966)
- ![Photo](/listings/photos/167589773/2088967)

## Floorplans

- ![Floorplan 1](/listings/photos/167589773/2088968) - Floorplan 1

## EPC Graphs

- ![EPC 1](/listings/photos/167589773/2088969) - EPC 1

## Sold Comparables

*Same street and nearby sales within 0.25 miles. Data from Land Registry Price Paid. Last 5 years.*

| Address | Price | Date | Type |
|---------|-------|------|------|
| 4 APARTMENT 402 MERCHANT SQUARE EAST, PADDINGTON, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1AN | £1,140,000 | 17/12/2025 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 419 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE | £1,250,000 | 24/06/2025 | Flat |
| 3 APARTMENT 1706 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF | £2,000,000 | 16/05/2025 | Flat |
| BALMORAL APARTMENTS, 2 FLAT 1108 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JN | £535,000 | 14/02/2025 | Flat |
| 96 LOWER GROUND AND GROUND FLOOR MAISONETTE STAR STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1QF | £740,000 | 31/01/2025 | Flat |
| WESTCLIFFE APARTMENTS, 1 705 SOUTH WHARF ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JB | £1,500,000 | 11/12/2024 | Flat |
| 11 APARTMENT 20 HARBET ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1AJ | £162,500 | 06/12/2024 | Flat |
| 13 - 14 FLAT D STAR STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1QD | £532,500 | 08/12/2023 | Flat |
| 63 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1NS | £2,250,000 | 23/11/2023 | Flat |
| WESTCLIFFE APARTMENTS, 1 509 SOUTH WHARF ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JB | £502,000 | 18/10/2023 | Flat |
| LYNTONIA HOUSE, 7 FLAT 3 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1NJ | £650,000 | 26/09/2023 | Flat |
| 3 APARTMENT 1408 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF | £2,200,000 | 31/08/2023 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 319 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE | £1,000,000 | 16/08/2023 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 602 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JJ | £875,000 | 01/06/2023 | Flat |
| [Same street] BALMORAL APARTMENTS, 2 FLAT 206 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL | £1,100,000 | 24/05/2023 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 301 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE | £850,000 | 11/05/2023 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 617 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JJ | £1,630,000 | 27/04/2023 | Flat |
| [Same street] BALMORAL APARTMENTS, 2 FLAT 113 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL | £1,700,000 | 21/03/2023 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 105 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE | £559,000 | 01/03/2023 | Flat |
| 3 APARTMENT 1003 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF | £1,950,000 | 19/12/2022 | Flat |
| 3 APARTMENT 1209 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF | £2,600,000 | 07/12/2022 | Flat |
| PENINSULA APARTMENTS, 4 FLAT 402 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE | £1,400,000 | 02/12/2022 | Flat |
| [Same street] BALMORAL APARTMENTS, 2 FLAT 110 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL | £590,000 | 30/09/2022 | Flat |
| [Same street] BALMORAL APARTMENTS, 2 FLAT 313 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL | £605,000 | 01/07/2022 | Flat |

**Street average:** £998,750 (4 sales)
**Area average:** £1,216,300 (20 sales)

## Price vs local average

*Outcode + property type (HousePrices, last 2 years).*

- **Local average:** £996,933 (118 Flat, W2, 2024–2026)
- **Deviation:** +15.4%

## Rental Range

*ONS Price Index of Private Rents (Westminster). Low / Realistic / Optimistic = conservative / average / best case.*

- **Low:** £2,861/mo
- **Realistic:** £3,179/mo
- **Optimistic:** £3,497/mo

## LHA (Local Housing Allowance)

*VOA 30th percentile rent floor for Central London (Apr 2025 – Mar 2026).*

- **LHA floor (this property size):** £2,154/mo

## Rental Comparables

*Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.*

| Title | Rent | Beds | Distance | As seen on |
|------|------|------|------|------|
| 3 Bed Flat, Merchant Square, W2 | £7,345/mo | 3 | 0.04 miles | OpenRent |
| 3 Bed Flat, Edgware Road, W2 | £7,500/mo | 3 | 0.2 miles | OpenRent |
| 3 Bed Flat, Garrett Mansions, W2 | £8,667/mo | 3 | 0.2 miles | OpenRent |

**Average rent: £7,837/mo (3 listings)**

## 1% Rule

- **Rent ratio:** 0.65% (weak for cashflow)
- **Max investor price (0.8%):** £937,500
- **Target investor price (1%):** £750,000

*Monthly rent ÷ price. 1%+ = strong, 0.8–1% = okay, <0.8% = weak. Max investor price = rent ÷ 0.8% (Stoke-style target). Target investor price = rent ÷ 1% (strong cashflow band). Based on OpenRent comparables.*

## Rent-driven metrics

*Based on OpenRent comparables (median £7,500/mo).*

- **Gross yield:** 7.8%
- **Cost-to-rent:** 12.8×
- **Monthly cashflow:** £2,196/mo (75% LTV, 3.95% APR (5yr fixed), 25yr term)
- **Cash-on-cash ROI:** 7.9%

*Gross yield = annual rent as % of price (no costs). Cost-to-rent = price ÷ annual rent (from OpenRent comparables); under 14× = strong, 14–16× = acceptable, 17×+ = compressed. Cashflow = rent − mortgage − 10% maintenance − £25/mo compliance; assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term. ROI = annual profit ÷ cash in (deposit + 4% purchase costs).*

## Capital growth trend

*Land Registry outcode average from sold prices: last 12 months vs 5y and 10y ago.*

- **5y growth:** -42.2%
- **10y growth:** -7%

## House Price Index (HM Land Registry)

*Official index for City of Westminster; Flats and maisonettes series; as of May 2026.*

- **1y growth (index):** -23.1%
- **5y growth (index):** -18.6%
- **10y growth (index):** -23.2%

## Flood risk

- **Zone:** 1
- **Risk:** Low
- **Source:** Job (default Low)

[Check long-term flood risk (GOV.UK)](https://check-long-term-flood-risk.service.gov.uk/postcode)

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Property details

Tenure

LEASEHOLD

Council tax band

Last sold

£1,000,000

Local average

£996,933 (+15.4%)

Deprivation

Decile 2 (6,696 of 33,755)

Street crime

2090 incidents within 1 mile (Jun 2026)

Key features

Three Bedrooms
Canal Views
Two Bathrooms
Lift
Secure Underground Car Space
Concierge
Balcony
Open Plan Kitchen/Living
1
033 sq ft

Additional details

Parking: Gated

Description

Well presented three bedroom apartment offering wonderful views looking down the canal within Paddington basin. The property comprises of a large open plan kitchen living area leading onto a balcony overlooking the canal, Main bedroom with en-suite and access onto the balcony, two further bedrooms and a main bathroom.

There is also the added bonus of a secure underground car space, lift and concierge service in this building.

Situation

Balmoral Apartments forms part of this popular modern waterside development in Paddington Basin.

Located within close proximity of Hyde Park, nearby transport links include Edgware Road (Circle, District and Bakerloo lines), Lancaster Gate (Central line), Marble Arch (Central line) and Paddington Station (Bakerloo, Hammersmith & City, Circle, District lines and Heathrow Express).

Nearby landmarks include Oxford Street where the famous Selfridges Store can be found. Property Ref Number:
HAM-60056

Listed by

Hyde Park & Bayswater

Countrywide Hamptons Sales - Connells

Reference: 167589773

EPC Rating & Upgrade Cost

Fetching EPC data… Refresh this page in a moment.

Flood risk

Zone: 1

Risk: Low

Job (default Low)

Registered land (INSPIRE)

This location falls inside an HM Land Registry INSPIRE registered freehold polygon.

Building plot (shared): ~39,496 m² (9.76 acres) (area is for the building, not the flat)

Source: HM Land Registry INSPIRE Index Polygons.

Floorplans

Floorplan 1

EPC Graphs

EPC 1

Price history

Event	Date	Price	% change
Listed for sale	—	£1,150,000	—

Source: HM Land Registry Price Paid Data. Crown copyright.

Sold Comparables

Same street and nearby sales within 0.25 miles (last 5 years). Data from Land Registry Price Paid.

Address	Price	Date	Type
4 APARTMENT 402 MERCHANT SQUARE EAST, PADDINGTON, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1AN	£1,140,000	17/12/2025	Flat
PENINSULA APARTMENTS, 4 FLAT 419 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE	£1,250,000	24/06/2025	Flat
3 APARTMENT 1706 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF	£2,000,000	16/05/2025	Flat
BALMORAL APARTMENTS, 2 FLAT 1108 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JN	£535,000	14/02/2025	Flat
96 LOWER GROUND AND GROUND FLOOR MAISONETTE STAR STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1QF	£740,000	31/01/2025	Flat
WESTCLIFFE APARTMENTS, 1 705 SOUTH WHARF ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JB	£1,500,000	11/12/2024	Flat
11 APARTMENT 20 HARBET ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1AJ	£162,500	06/12/2024	Flat
13 - 14 FLAT D STAR STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1QD	£532,500	08/12/2023	Flat
63 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1NS	£2,250,000	23/11/2023	Flat
WESTCLIFFE APARTMENTS, 1 509 SOUTH WHARF ROAD, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JB	£502,000	18/10/2023	Flat
LYNTONIA HOUSE, 7 FLAT 3 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1NJ	£650,000	26/09/2023	Flat
3 APARTMENT 1408 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF	£2,200,000	31/08/2023	Flat
PENINSULA APARTMENTS, 4 FLAT 319 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE	£1,000,000	16/08/2023	Flat
PENINSULA APARTMENTS, 4 FLAT 602 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JJ	£875,000	01/06/2023	Flat
Same street BALMORAL APARTMENTS, 2 FLAT 206 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL	£1,100,000	24/05/2023	Flat
PENINSULA APARTMENTS, 4 FLAT 301 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE	£850,000	11/05/2023	Flat
PENINSULA APARTMENTS, 4 FLAT 617 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JJ	£1,630,000	27/04/2023	Flat
Same street BALMORAL APARTMENTS, 2 FLAT 113 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL	£1,700,000	21/03/2023	Flat
PENINSULA APARTMENTS, 4 FLAT 105 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE	£559,000	01/03/2023	Flat
3 APARTMENT 1003 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF	£1,950,000	19/12/2022	Flat
3 APARTMENT 1209 MERCHANT SQUARE, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1BF	£2,600,000	07/12/2022	Flat
PENINSULA APARTMENTS, 4 FLAT 402 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JE	£1,400,000	02/12/2022	Flat
Same street BALMORAL APARTMENTS, 2 FLAT 110 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL	£590,000	30/09/2022	Flat
Same street BALMORAL APARTMENTS, 2 FLAT 313 PRAED STREET, LONDON, CITY OF WESTMINSTER, GREATER LONDON, W2 1JL	£605,000	01/07/2022	Flat

Street average: £998,750 (4 sales)

Area average: £1,216,300 (20 sales)

Capital growth trend

Land Registry outcode average: last 12 months vs 5y and 10y ago (from sold prices).

5y growth -42.2%

10y growth -7%

House Price Index (HM Land Registry — official index, not sold-price averages): City of Westminster. Series: Flats and maisonettes. As of May 2026.

1y (index) -23.1%

5y (index) -18.6%

10y (index) -23.2%

Company ownership

Registered legal owner is a company.

Company-owned (UK company) Company-owned (Overseas company)

Company: AHLI UNITED BANK (UK) PLC (877859)

Rental Range

Estimated market rent for Westminster. Low = conservative, Realistic = average, Optimistic = best case.

Low £2,861/mo

Realistic £3,179/mo

Optimistic £3,497/mo

Based on Local Authority from postcode lookup → Westminster.

LHA (30th percentile) floor for Central London: £2,154/mo (Apr 2025 – Mar 2026)

Location

Map view View on Google Maps View on OpenStreetMap Street View W2 1JL

Address

2 Praed Street

Nearby

Nearest stations, universities and amenities (distance from property).

Type	Name	Distance
Shop	Vodafone	0.0 miles
Shop	Superdrug	0.0 miles
Bus stop	Praed Street	0.0 miles
Bus stop	Edgware Road / Praed Street	0.1 miles
Train station	Edgware Road	0.1 miles
University	LBS Behaviour Lab	0.6 miles
Hospital	The Portland Hospital	1.2 miles
Hospital	Sleep & Health Clinic	1.3 miles
University	Kennet West Skills Centre	1.4 miles

Street-level crime

Category	Count
Anti-social behaviour	415
Violence and sexual offences	349
Other theft	336
Theft from the person	266
Shoplifting	261
Public order	101
Burglary	82
Vehicle crime	75
Drugs	71
Robbery	64
Bicycle theft	38
Other crime	18
Possession of weapons	11
Criminal damage and arson	3
Total incidents	2090

Within 1 mile during Jun 2026. Source: data.police.uk (England & Wales).

Schools nearby

Nearest open schools with Ofsted ratings (England). Closed schools are not shown. Data from Get Information about Schools and Ofsted.

Name	Type	Distance	Ofsted
Ark King Solomon Academy	Other	0.2 miles	Outstanding — 4 Feb 2024
Hospital Home and Education Units co St Mary's Hospitial Tuition Unit	Other	0.2 miles	— (No rating)
Christ Church Bentinck CofE Primary School	Primary	0.3 miles	Outstanding — 23 Apr 2019
United Colleges Group	Other	0.3 miles	— (No rating)
Marylebone Boys' School	Secondary	0.3 miles	Good — 16 Jun 2017

Rental Comparables

Residential lets from OpenRent and Rightmove for the area (same bedroom count). Use to validate rent estimates. Student lets are excluded.

Title	Rent	Beds	Distance	As seen on
3 Bed Flat, Merchant Square, W2	£7,345/mo	3	0.04 miles	OpenRent
3 Bed Flat, Edgware Road, W2	£7,500/mo	3	0.2 miles	OpenRent
3 Bed Flat, Garrett Mansions, W2	£8,667/mo	3	0.2 miles	OpenRent

Average rent: £7,837/mo (3 listings)

Rent-driven metrics

Based on OpenRent comparables.

Rent ratio 0.65%

Max investor price (0.8%) £937,500

Target investor price (1%) £750,000

Gross yield 7.8%

Cost-to-rent ratio 12.8×

Monthly cashflow £2,196/mo 75% LTV, 3.95% APR (5yr fixed), 25yr term

Cash-on-cash ROI 7.9%

Rent ratio — Monthly rent ÷ purchase price (1% rule). 1%+ = strong, 0.8–1% = okay, <0.8% = weak for cashflow.
Max investor price — Rent ÷ 0.8%; the price at which rent would be 0.8% of price (Stoke-style target).
Target investor price — Rent ÷ 1%; the price at which rent would be 1% of price (strong cashflow band).
Gross yield — Annual rent as % of purchase price (no costs).
Cost-to-rent — Price ÷ annual rent (from OpenRent comparables). Under 14× = strong, 14–16× = acceptable, 17×+ = compressed.
Cashflow — Rent minus mortgage, 10% maintenance, £25/mo compliance. Assumes 75% LTV, 3.95% APR (5yr fixed), 25yr term.
ROI — Annual profit ÷ cash in (deposit + 4% purchase costs).

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