12 Kempton Close, Erith, Kent

Description

A Vacant Second Floor Two Bedroom Flat in Need of Modernisation. The property comprises a second floor two bedroom flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Second Floor: Kitchen/Reception Room, Two Bedrooms, Bathroom. Exterior: The property benefits from communal gardens and a garage.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Holly Hill Open Space are within easy reach. Transport links are provided by Erith rail station.

Tenure / Property Information

Investment Analysis

Sold evidence on the same close ranges from £94,000 to £190,000, with most evidence between £120,000 and £141,000. The £190,000 sale may reflect differing condition or specification. A cautious base GDV of £135,000 is used, with low and high scenarios of £120,000 and £141,000.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspect the modernisation requirement and confirm lease/service-charge details before considering a cautious flip or owner-occupier purchase.

Works Required

Modernisation throughout, including the kitchen/reception area, bathroom, bedrooms and general finishes. The description does not quantify the required works, so inspection and the legal pack are essential.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £135,000, 75% refinance is approximately £101,250. Cash requirements cannot be calculated because refurbishment, purchase-related special charges and total project costs are unknown.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Modernisation costs, lease costs and service-charge information are also unavailable.

Flip Analysis

The evidence supports a broad resale range of £120,000 to £141,000, but flip surplus cannot be calculated without a refurbishment allowance, selling costs and complete purchase costs. The £1,800 administration fee is known; other charges may apply.

Investor Risks & Due Diligence

• Approximately 81 years remain on the lease.

• The flat requires modernisation, but the scope and cost are not provided.

• No sufficiently specific rental evidence is available.

• Special conditions may impose search, seller, legal, transfer and other disbursement charges.

• Same-close sold prices vary materially, reducing valuation certainty.

Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspect the modernisation requirement and confirm lease/service-charge details before considering a cautious flip or owner-occupier purchase.

Strategy Rating

Analysis Confidence

Several same-close completed sales support a broad GDV range, but condition differences are unknown and there is no usable rent, refurbishment budget or complete fee information.