1 Fairthorn Road (Flats A and B), London

Description

By order of a major housing association. Freehold house arranged as two self-contained flats requiring updating. The property may be suitable for a rear or loft/mansard conversion for additional accommodation, subject to all consents where necessary.

Accommodation

Ground floor flat, approximately 59m² (637 sqft): entrance hall, one bedroom, reception room, kitchen/diner, bathroom/WC, shower room/WC, and garden. Flat A – first floor, approximately 56m² (603 sqft): entrance hall, two bedrooms, reception room, kitchen/diner, and bathroom/WC.

Location

Situated on Fairthorn Road, well positioned for the amenities of Charlton, historical Greenwich and its park, The River Thames, Royal Albert Docks, North Greenwich and the London Docklands. Transport options include London City Airport, local bus routes, rail connections via Westcombe Park, or road links via the A102.

Tenure / Property Information

Investment Analysis

The £420,000 guide is the only purchase-value evidence supplied. No HM Land Registry comparables, formal valuation, supported GDV, refurbishment budget or directly comparable rental evidence is provided, so market value and investment returns cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a full survey, detailed works and conversion appraisal, planning/building-regulation advice, flat-specific rental evidence, comparable sales and all Special Conditions before setting a bid limit.

Works Required

Update both self-contained flats. The evidence also identifies potential rear or loft/mansard conversion opportunities, but these require investigation, design work and all necessary consents. The scope and cost of works are currently unsupported.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten from the evidence. A refurbishment allowance, supported post-works GDV, flat-by-flat rental evidence and finance costs are unavailable. The £1,800 inclusive-of-VAT contract documentation fee is known, while the seller may charge additional completion fees.

Buy-to-Let Analysis

BTL returns cannot be established reliably. The only rental evidence is an advertised £1,980 pcm asking rent for a three-bedroom property in SE7, which is not confirmed as comparable to this property arranged as two flats and is not an achieved rent. No flat-by-flat rent, operating costs or refurbishment cost is supplied.

Flip Analysis

A flip appraisal cannot be completed because there are no completed-sale comparables, supported GDV, refurbishment budget or selling-cost allowance. Potential additional accommodation is expressly subject to necessary consents.

Investor Risks & Due Diligence

• Both flats require updating, but the extent and cost of works are unknown.

• Any rear or loft/mansard conversion is subject to all necessary consents and may not be achievable.

• The sole rental evidence is an asking rent for a three-bedroom property and does not establish rents for the two-flat configuration.

• Parking and heating information is unavailable from the supplied evidence.

• The seller may charge additional fees on completion under the Special Conditions of Sale.

• The £1,800 inclusive-of-VAT contract documentation fee is payable by the buyer.

Recommendation

Do not bid on the supplied evidence alone. Obtain a full survey, detailed works and conversion appraisal, planning/building-regulation advice, flat-specific rental evidence, comparable sales and all Special Conditions before setting a bid limit.

Strategy Rating

Analysis Confidence

The property description, guide price, tenure, vacancy and one rental asking example are supplied, but there are no completed comparables, works costs, supported GDV, directly comparable rents or full buyer/seller cost schedule.