10 Phillips Close, Dartford, Kent, DA1 3HB

Description

A Vacant Ground Floor Two Bedroom Maisonette. The property comprises a ground floor two bedroom maisonette situated within a purpose built building arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Wilmot Park are within easy reach. Transport links are provided by Crayford rail station.

Tenure / Property Information

Investment Analysis

Two completed sales at the same address/close were £190,000 in March 2022 and £188,000 in February 2020. These support an indicative base GDV of £189,000, with a £188,000–£190,000 evidence range. The comparables do not confirm their remaining lease terms or condition, so the short approximately 45-year lease and any condition differences cannot be quantified from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally after inspecting the property and reviewing the legal pack, lease, title and lender acceptability. Do not rely on the apparent GDV spread without confirming the short-lease valuation and all project costs.

Works Required

No specific defects or refurbishment requirements are evidenced. A physical inspection and legal-pack review are required before assigning a works allowance. The EPC is currently rated D.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £75,000 guide plus the known £1,800 administration charge, the entry figure before works and other costs would be £76,800. A theoretical 75% refinance of the £189,000 base GDV is £141,750, but total project cost cannot be calculated because works, finance, legal, disbursement and refinancing costs are not supplied. The short lease requires specific lender and solicitor review.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The approximately 45-year unexpired lease may also affect mortgageability, tenantability and resale, but no quantified impact is evidenced.

Flip Analysis

The same-address comparables support an indicative resale GDV of £189,000, but no condition, refurbishment budget, selling costs or lease-adjustment evidence is supplied. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• Approximately 45 years remain on the lease, with no supplied evidence of extension terms or lender acceptability.

• No sufficiently specific rent evidence is available, so rental yield and BTL performance cannot be assessed.

• Property condition and any required works are not evidenced.

• The £1,800 administration charge applies and further legal-pack disbursements may be payable.

• The comparable sales are from 2020 and 2022 and do not confirm matching lease terms or condition.

Recommendation

Proceed only conditionally after inspecting the property and reviewing the legal pack, lease, title and lender acceptability. Do not rely on the apparent GDV spread without confirming the short-lease valuation and all project costs.

Strategy Rating

Analysis Confidence

Same-address completed-sale evidence supports a provisional GDV range, but rental evidence, condition, works costs, lease comparability, council tax, finance costs and disbursements are unavailable.