144A Green Street, Forest Gate, London

Description

Vacant long leasehold self-contained ground floor flat with a reception room, bedroom, kitchen, bathroom, rear garden and GIA approximately 49.23 sq m (530 sq ft). The Vendor will not accept offers prior to auction. By order of a housing association.

Accommodation

Reception Room, Bedroom, Kitchen, Bathroom; rear garden; GIA approximately 49.23 sq m (530 sq ft).

Location

Situated on the west side of Green Street. The shops and amenities of Green Street are to the south. Forest Gate rail station (Elizabeth line) is approximately 0.8 miles to the north west. The A406 (North Circular) is to the east. West Ham Park is to the south west.

Tenure / Property Information

Investment Analysis

The only supplied sold comparables are leasehold flats on Green Street from 1998–2000 and are not sufficient to establish a current market value or GDV. The £175,000+ guide is therefore not independently validated by the supplied evidence. A current valuation should be obtained using recent comparable sales and inspection of the flat and lease terms.

Investment Snapshot

Strategy Recommendation

Potential rental purchase only if inspection, lease review and achieved-rent evidence support the guide price. Do not rely on the headline yield alone, and set a bid limit after obtaining current comparable sales, full costs and condition information.

Works Required

No specific defects or works are evidenced. Allowance cannot be estimated without inspection. Confirm condition of the kitchen, bathroom, finishes, services, windows, garden and any communal or external elements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be completed reliably because current GDV, refurbishment cost, acquisition costs and refinance terms are unsupported. The new 990-year lease at a peppercorn ground rent is favourable on the supplied lease information, but valuation and refinanceability remain unverified.

Buy-to-Let Analysis

At the £175,000 guide, the single advertised £1,600 pcm asking rent implies annual rent of £19,200 and a gross yield of approximately 10.97% before finance, voids, management, maintenance, insurance, taxes and other costs. This is an asking rent rather than achieved rent, and no buyer or other costs are supplied, so net yield and total-cost yield cannot be established.

Flip Analysis

A flip appraisal cannot be supported because there is no current GDV, refurbishment budget or selling-cost allowance. The historic comparables do not provide a reliable current resale benchmark.

Investor Risks & Due Diligence

• The supplied sold comparables date from 1998–2000 and cannot reliably establish current value.

• The £1,600 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Condition and required works are not evidenced, so refurbishment costs are unknown.

• Buyer premium, administration charge and possible additional seller or third-party fees are unspecified.

• EPC, council tax, parking and heating information are not supplied.

• Current GDV and refinance value cannot be established from the supplied evidence.

• Lease documentation and any special conditions should be reviewed before bidding despite the stated 990-year term and peppercorn ground rent.

Recommendation

Potential rental purchase only if inspection, lease review and achieved-rent evidence support the guide price. Do not rely on the headline yield alone, and set a bid limit after obtaining current comparable sales, full costs and condition information.

Strategy Rating

Analysis Confidence

Property accommodation, tenure, lease term, occupancy, guide price and one rental asking listing are supplied, but current sales evidence, condition, EPC, running costs, buyer fees, administration charges and current GDV evidence are absent.