102 Sibthorpe Road, Lee, London

Description

A terrace house requiring modernisation with accommodation arranged on two floors. Driveway providing off-street parking and garden at rear. There may be potential for a loft conversion and rear extension subject to the necessary consents being obtained.

Accommodation

First floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bathroom/WC. Ground floor: Entrance Hall, Living Room, Dining Room, Kitchen.

Location

Situated on Sibthorpe Road, close to local shopping/travelling facilities including Lee and Mottingham Train Stations. Horn Park is also nearby.

Tenure / Property Information

Investment Analysis

Completed sales on the same road range from £335,000 to £510,000, with the two latest sales at £450,000 in 2022 and £510,000 in 2024. A base GDV of £450,000 is used, with £425,000–£510,000 as an evidence-supported scenario range. The comparables do not state condition or specification, so the effect of modernisation on value cannot be isolated.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase or BRRR project only if inspection confirms manageable modernisation costs and the legal pack contains no material additional charges. Do not rely on loft or extension potential without consent and detailed feasibility checks.

Works Required

Modernisation of the house is required based on the auction description, but no detailed schedule or cost evidence is supplied. Any loft conversion or rear extension should be treated only as potential, subject to necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £200,000 guide, 75% of the £450,000 base GDV would be approximately £337,500. However, total acquisition and refurbishment cost cannot be calculated because works costs and any applicable seller fees are not supplied. The refinance outcome and cash left in therefore remain uncertain.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,300 pcm for a nearby three-bedroom property, not an achieved rent. At the £200,000 guide, this indicates a gross yield of 13.8% before refurbishment, finance, taxes, insurance, maintenance, voids and other costs. A yield on total project cost cannot be established because refurbishment costs and seller charges are unknown.

Flip Analysis

The evidence supports a base resale value of £450,000, with a £425,000–£510,000 scenario range. A flip surplus cannot be calculated because refurbishment costs, selling costs and applicable seller fees are unknown. The property is described as requiring modernisation, which creates execution and cost risk.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not quantified.

• Comparable sales do not state condition or specification, limiting GDV precision.

• Rental evidence is one nearby advertised asking rent rather than achieved rent.

• Potential loft conversion and rear extension require necessary consents and are not assured.

• Additional seller fees may be payable under the special conditions.

• Applicable finance, tax, selling and holding costs are not supplied.

Recommendation

Potential value-add purchase or BRRR project only if inspection confirms manageable modernisation costs and the legal pack contains no material additional charges. Do not rely on loft or extension potential without consent and detailed feasibility checks.

Strategy Rating

Analysis Confidence

Same-road completed sales and one nearby advertised rental are available, but property condition, refurbishment costs, achieved rent, selling costs, finance costs and possible seller fees are not supplied.