154b, London Road, Tunbridge Wells, Kent

Description

Leasehold first floor flat. Two bedrooms, reception room open plan to kitchen, shower room/wc.

Accommodation

Two bedrooms, reception room open plan to kitchen, shower room/wc

Location

The property is located on London Road (A26). Shopping amenities are available within Southborough Town Centre to the north and Tunbridge Wells Town Centre to the south. Public transport links are available at High Brooms Train Station to the south east and Tunbridge Wells Train Station, with local bus services serving the surrounding areas. Road links include the A26 and the A21 to the east. Recreational pursuits are available locally.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence comprises leasehold flat sales at £170,000, £190,000 and £215,000 in June 2020, including the same address at £215,000. These are historic comparables with no floor areas, condition, lease lengths or current-market adjustment supplied. A cautious evidence-based scenario range is £170,000–£215,000, with £190,000 used as the base GDV. The £87,000 guide is substantially below these historic sales, but the lease, service charge, ground rent, parking and condition remain unresolved.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the headline yield or historic GDV. Obtain the lease and special conditions, verify the £3,000 pcm rental evidence and establish all leasehold and physical costs before considering BTL or a resale strategy.

Works Required

No specific refurbishment works are evidenced. Before bidding, obtain and review the lease, ground rent, service charge, lease term, review provisions, parking position, heating information and auction special conditions. Any physical works remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the historic comparable range, a base GDV of £190,000 implies 75% refinance proceeds of £142,500. However, total project cost cannot be calculated because refurbishment requirements, leasehold costs and possible seller charges are unknown. Refinanceability is also uncertain until the lease terms and property condition are confirmed.

Buy-to-Let Analysis

The supplied rental evidence is one advertised asking rent of £3,000 pcm, not an achieved or passing rent, and no auctioneer rent estimate is provided. At the £87,000 guide this equates mathematically to a 41.38% gross yield before the £1,800 inclusive-VAT contract documentation fee and unknown leasehold costs. The figure appears unusually strong relative to the evidence and must be independently verified. Service charge, ground rent and lease length are unknown, so a reliable net yield cannot be established.

Flip Analysis

The historic evidence supports a broad £170,000–£215,000 value scenario, with £190,000 as the base GDV. A flip surplus cannot be calculated because works, selling costs, finance costs and any leasehold liabilities are not supplied. The historic comparable dates also make current resale value uncertain.

Investor Risks & Due Diligence

• Lease term and ground rent details are awaited.

• Annual service charge and ground rent are unknown.

• The £3,000 pcm figure is an advertised asking rent rather than achieved or passing rent.

• The supplied comparables are historic, dating from 2020, with no current-market adjustment evidence.

• Condition, heating and parking information are unavailable.

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

• Council tax is inconsistently stated as Band B and Band C.

Recommendation

Do not bid solely on the headline yield or historic GDV. Obtain the lease and special conditions, verify the £3,000 pcm rental evidence and establish all leasehold and physical costs before considering BTL or a resale strategy.

Strategy Rating

Analysis Confidence

There are several relevant completed sales, including the same address, but they are from 2020. Current value, lease term, service charge, ground rent, condition, parking, rent achievability and seller fees are materially incomplete.