15 Highview House, Hatch Grove, Romford, Essex, RM6 5NS

Description

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

Accommodation

Third Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of St Chad's Park are within easy reach. Transport links are provided by Chadwell Heath underground station (Elizabeth line) and Romford rail station.

Tenure / Property Information

Investment Analysis

The three supplied same-building leasehold comparables sold for £137,000–£157,000 in 2016–2017, but they are materially dated and provide no condition, size or floor-level detail. A reliable current GDV cannot be established. The flat is vacant and requires modernisation, while current rental evidence is unavailable.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review and independent current valuation. Do not rely on the historical comparables or assume rental viability without current evidence.

Works Required

Modernisation of the flat as required, potentially including kitchen, bathroom, decoration and other items identified by inspection. No quantified scope or cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed without a current GDV, refurbishment budget, rent evidence and full leasehold cost information. The approximately 118-year lease is stated, but service charge, ground rent and restrictions are not provided.

Buy-to-Let Analysis

BTL suitability cannot be quantified because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £1,800 administration charge and possible additional legal, search and transfer costs should be allowed for.

Flip Analysis

A flip appraisal cannot be quantified. Historical same-building sales provide context only and do not establish a current resale value, while refurbishment costs and selling allowances are unavailable.

Investor Risks & Due Diligence

• Historical comparables date from 2016–2017 and may not reflect current value.

• The flat is stated to need modernisation, but the works scope and cost are unknown.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Leasehold service charge, ground rent and other lease obligations are not supplied.

• Special conditions may require search, seller, legal, transfer and other disbursement payments.

• No buyer premium is supplied, so total acquisition costs cannot be fully calculated.

Recommendation

Proceed only subject to inspection, legal-pack review and independent current valuation. Do not rely on the historical comparables or assume rental viability without current evidence.

Strategy Rating

Analysis Confidence

Same-building sales and lease length are supplied, but the sales are dated; current GDV, rental evidence, refurbishment costs, property size, service charges, ground rent and full additional fees are missing.