152a, Rectory Road, GRAYS, Essex

Description

Leasehold self-contained one bedroom flat. Full vacant possession. 3D Tour available.

Accommodation

Bedroom, reception room, kitchen, WC

Location

The property is situated off Rectory Road. Public transport links include Grays rail station and local bus services. Road communications are provided by the A13, providing access to the M25 Motorway to the West. Local shopping facilities are available, with a more comprehensive range of shops and restaurants at the Intu Lakeside Shopping Centre to the West. Recreational pursuits include King George’s Field and Chafford Gorges Nature Park.

Tenure / Property Information

Investment Analysis

The £70,000 guide is broadly supported by the exact-property Land Registry sale at £71,500 in March 2014, but that transaction is historic and no current comparable or formal valuation is supplied. Other supplied sales relate to the same road but different properties and are also historic. The 61-year lease, unknown service charge and ground rent, and any seller fees may materially affect value and financeability.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease, service charge, ground rent, seller special conditions and a current local valuation. Do not bid on the supplied evidence alone for BTL, BRRR or a flip.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow only for inspection, cleaning and basic preparation if required, subject to viewing and lease documentation; no works allowance is quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable without a current GDV, rent, refurbishment budget and lease-cost information. The 61-year remaining lease may restrict lender and refinance options and requires specialist lease review.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The known guide price plus the £1,800 inclusive admin charge totals £71,800 before any seller fees, lease costs, finance, tax, service charge or ground rent.

Flip Analysis

A flip appraisal cannot be reliably calculated. The exact-property £71,500 sale from 2014 is historic, while current resale value, works, selling costs and any seller fees are not evidenced. At the guide price, the known purchase and admin cost is £71,800 before other costs.

Investor Risks & Due Diligence

• Only 61 years remain on the lease, which may affect value, mortgage availability and resale.

• Annual service charge and ground rent details are unknown.

• Additional seller fees may be payable under the special conditions.

• No sufficiently specific rental evidence or auctioneer rent estimate is supplied.

• Property condition, parking and heating details are not supplied.

• Current market value is not established by the historic comparable evidence.

Recommendation

Proceed only after reviewing the lease, service charge, ground rent, seller special conditions and a current local valuation. Do not bid on the supplied evidence alone for BTL, BRRR or a flip.

Strategy Rating

Analysis Confidence

Evidence includes an exact historic sale, guide price, lease term and known admin charge, but lacks current valuation evidence, rent, condition detail, service-charge and ground-rent figures, seller fees and refurbishment costs.