10A Brook Mews, High Road, Chigwell, Essex

Description

A Vacant Split-Level First, Second and Third Floor Five Bedroom Flat. The property comprises a first, second and third floor five bedroom split level flat situated within a mid terrace building arranged over ground, three upper floors.

Accommodation

First Floor: Bedroom, Bathroom. Second Floor: Kitchen, Two Bedrooms, Two Private Terraces. Third Floor: Two Bedrooms (one with en suite), Bathroom. Exterior: The property benefits from a private roof terrace.

Location

Situated on a residential road close to local shops and amenities. The open spaces of The Green are within easy reach. Transport links are provided by Chigwell underground station (Central line).

Tenure / Property Information

Investment Analysis

Evidence ranges from £300,000 for 11A in June 2025 to £380,000 for 8A in February 2021. The same flat, 10A, sold for £345,000 in 2016. A cautious evidence-based base GDV is £345,000, with £300,000 low and £380,000 high; values are uncertain due to differing dates and no condition evidence.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the £4,700 asking rent, lease terms, service charge, ground rent, legal-pack disbursements and property condition. BTL appears potentially attractive on headline yield, but the evidence is insufficient to support a firm bid.

Works Required

No specific defects or required works are evidenced. Allowance should be based on inspection and the legal pack; only confirmed costs include the £1,800 administration charge and other potentially payable disbursements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £345,000 evidence-based base GDV, 75% refinancing would be approximately £258,750. Cash requirements cannot be established because refurbishment, legal, buyer and other completion costs are not supplied. The approximately 84-year lease may affect lending and valuation.

Buy-to-Let Analysis

The advertised £4,700 pcm rent implies £56,400 annual gross rent and a 16.84% gross yield against the £335,000 guide. This is based on an asking rent, not achieved rent, and excludes service charge, ground rent, finance, tax, voids and management. BTL viability requires rent validation and full lease/legal cost review.

Flip Analysis

A resale assessment is constrained by the absence of condition, refurbishment costs, acquisition costs and selling costs. The evidence-based GDV range is £300,000–£380,000, so no reliable flip surplus or maximum bid can be calculated.

Investor Risks & Due Diligence

• Advertised rent may not be achieved.

• Approximately 84 years remain on the lease.

• Condition and refurbishment costs are unknown.

• Additional legal-pack disbursements may be payable.

• Service charge, ground rent, council tax and other running costs are not supplied.

• Comparable sales vary materially in date and price.

Recommendation

Proceed only after confirming the £4,700 asking rent, lease terms, service charge, ground rent, legal-pack disbursements and property condition. BTL appears potentially attractive on headline yield, but the evidence is insufficient to support a firm bid.

Strategy Rating

Analysis Confidence

There are relevant sold comparables, including the same flat, and one rental asking figure, but no condition, refurbishment, service-charge, ground-rent, buyer-fee or complete legal-cost evidence.