13, Lingey Close, SIDCUP, Kent, DA15 8EG

Description

By order of a major housing association. Freehold two floor mid house requiring updating. Full vacant possession. The property may be suitable for a rear extension for additional accommodation – subject to all consents where necessary.

Accommodation

Approx. 87m2 / 939 sq ft. First floor: Three bedrooms, bathroom/WC. Ground floor: Entrance hall, reception room, kitchen, cloakroom/WC, store. Outside: Front and rear gardens.

Location

Situated on the cul de sac of Lingley Close which is well positioned for the amenities of Sidcup town centre. Transport options include local bus routes, rail connections via Sidcup rail station to London Bridge, Waterloo and Charing Cross, or road links via the A2 and A20.

Tenure / Property Information

Investment Analysis

Five same-close sold comparables range from £415,000 to £478,000, averaging £445,600. The evidence includes terraced and semi-detached houses rather than a directly matched mid-terrace condition comparison. The subject requires updating, so £445,600 is used as an indicative base GDV only, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Conditional buy-and-hold may be viable at the guide based on the advertised rent, but only proceed after inspecting the property, costing the updating works and reviewing the legal pack. Do not rely on the potential extension or projected resale surplus.

Works Required

Updating is required, but the evidence does not specify the extent of works. Obtain a full inspection and contractor quotations before bidding. Any rear extension would require all necessary consents and is excluded from the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £315,000 guide, the 75% refinance illustration on the £445,600 base GDV is £334,200. However, refurbishment costs, total project cost and finance costs are unavailable, so cash left in and equity outcomes cannot be reliably calculated.

Buy-to-Let Analysis

The advertised asking rent of £2,200 pcm implies £26,400 annual gross rent and an 8.38% gross yield against the £315,000 guide. This is based on one advertised asking rent, not achieved rent, and excludes refurbishment, finance, management, maintenance, tax and other costs. Net yield cannot be established.

Flip Analysis

The sold evidence supports an indicative GDV range of £415,000 to £478,000, with a £445,600 base case. A flip surplus cannot be calculated because refurbishment costs, seller fees and other completion costs are not supplied.

Investor Risks & Due Diligence

• The property requires updating, but no quantified refurbishment scope or cost is provided.

• The £2,200 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Seller charges, estate service charges and other legal-pack costs are unknown.

• The rear extension is only a possibility and would be subject to all necessary consents.

• Parking and heating details are unavailable from the supplied evidence.

• Comparable sales include terraced and semi-detached properties and may not precisely match the subject.

Recommendation

Conditional buy-and-hold may be viable at the guide based on the advertised rent, but only proceed after inspecting the property, costing the updating works and reviewing the legal pack. Do not rely on the potential extension or projected resale surplus.

Strategy Rating

Analysis Confidence

Same-close sold evidence and one advertised rent are available, but the works scope, refurbishment costs, achieved rent, seller fees, service charges and several property details are not supplied.