15 Hathaway Road, Croydon

Description

An End of Terrace House requiring modernisation with accommodation arranged on Two Floors. There may be potential for a loft conversion subject to the necessary consents being obtained.

Accommodation

First Floor: Bedroom (One) with en-suite Shower/WC; Bedroom (Two) with en-suite Shower/WC; Bedroom (Three) with en-suite Shower/WC; Bedroom (Four). Ground Floor: Entrance Porch; Entrance Hall; Living Room; Dining Room; Kitchen; Bathroom/WC; Bedroom (Five) with en-suite Shower/WC. Garden at Rear.

Location

Situated off London Road, close to local shopping/travelling facilities including West Croydon and East Croydon Train Stations. Wandle Park is also nearby.

Tenure / Property Information

Investment Analysis

The property is a vacant five-bedroom freehold end-of-terrace house requiring modernisation. The supplied comparable evidence is limited and inconsistent: 49 Hathaway Road sold for £300,000 in June 2021, while 27 Hathaway Road sold for £400,000 in 2015. Bedroom count, condition and specification are not supplied for the comparables, so a reliable current GDV range cannot be established. The £275,000+ guide should not be treated as evidence of market value. The known buyer premium is £1,500 inclusive of VAT; seller fees may also apply under the special conditions.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a detailed inspection, itemised refurbishment quotation, current comparable sales, rental evidence and full special conditions before considering a refurbishment-led resale or rental strategy.

Works Required

Modernisation of the existing two-storey accommodation is required. The evidence does not specify the required items, condition of individual rooms or services, so no reliable works scope or cost can be quantified. A loft conversion is only a potential subject to necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because GDV, refurbishment cost and rent are not sufficiently evidenced. Refinance proceeds at 75% of GDV and cash left in are therefore unsupported. The vacant status and modernisation requirement may create a refurbishment phase, but the scope and funding requirement are unknown.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant and has five bedrooms with multiple en-suite shower/WCs, but achievable rent, licensing position and operating costs are unsupported.

Flip Analysis

A flip appraisal cannot be quantified. The guide is £275,000+, with a known £1,500 buyer premium, but refurbishment costs, resale GDV, selling costs and any seller completion fees are unsupported. The available historic comparables are insufficiently detailed for a reliable resale valuation.

Investor Risks & Due Diligence

• The property requires modernisation, but the extent and cost of works are not specified.

• The potential loft conversion is subject to necessary consents and is not an established value or income assumption.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

• The supplied sold comparables vary materially in price and lack bedroom, condition and specification details.

• Seller fees may be payable on completion under the special conditions, but no amount is supplied.

• EPC rating is E; no further energy-efficiency or services information is supplied.

Recommendation

Do not bid on the current evidence alone. Obtain a detailed inspection, itemised refurbishment quotation, current comparable sales, rental evidence and full special conditions before considering a refurbishment-led resale or rental strategy.

Strategy Rating

Analysis Confidence

The evidence confirms the property type, tenure, vacancy, accommodation and guide price, but lacks a detailed condition survey, refurbishment costs, current comparable detail, rental evidence, full fees and a supported GDV.