16 A & B, Ethnard Road, London, SE15 1RU

Description

Requiring updating and further development potential (subject to consents). Full vacant possession. The property may be suitable for area or loft/mansard conversion for additional accommodation, subject to all consents where necessary.

Accommodation

Unit A – Garden Flat: one bedroom, reception room, kitchen/diner, former bathroom (not fitted), approximately 53m²/565 sq ft, patio garden. EPC: C. Council Tax Band: B. Unit B – First Floor Flat: one bedroom, reception room, kitchen/diner, former bathroom/WC, access to loft, approximately 55m²/588 sq ft. EPC: C. Council Tax Band: C.

Location

The property is situated on Ethnard Road, located off Old Kent Road (A2). Queens Road Peckham Railway Station is within close proximity, together with local bus services. Local amenities include shopping, bars and restaurants, with nearby recreational pursuits including Leyton Square Park/Play Area and Bird in Bush Park.

Tenure / Property Information

Investment Analysis

The £490,000 guide price is the only supplied purchase indicator. No completed sales, formal valuation, GDV evidence or directly comparable rental evidence has been provided. The building comprises two vacant self-contained one-bedroom flats totalling approximately 108m², requiring updating, with further conversion potential subject to consents. Market value and bid capacity cannot be reliably established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain comparable sales, independent valuations for the two flats, a measured refurbishment quotation, rental appraisals and confirmation of any additional seller fees and conversion consents before considering a BTL, BRRR or flip strategy.

Works Required

Update the two flats and reinstate or fit the former bathroom/WC areas, subject to inspection. Assess the loft and any proposed area or mansard conversion only after confirming the necessary consents, regulations and feasibility. No works budget is supported by the evidence.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten because there is no supported GDV, refurbishment budget, achievable rent or refinance valuation. The vacant freehold structure may provide a basis for separate-flat operation, but the evidence is insufficient to quantify refinance proceeds or cash left in.

Buy-to-Let Analysis

The supplied £2,300 pcm asking rent relates to two-bedroom houses in SE15 and is not sufficiently comparable to two separate one-bedroom flats. No reliable rent for the subject units, operating costs or refurbishment cost is supplied, so BTL yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated. There are no completed comparable sales, supported GDV, refurbishment allowance or supported selling-cost allowance. Further development is expressly subject to consents and should not be included in value without evidence.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• Any area, loft or mansard conversion is subject to the necessary consents and has not been valued.

• The available rental evidence is for two-bedroom houses rather than the subject's two one-bedroom flats.

• No completed sales or formal valuation evidence is supplied.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Parking and heating information is not provided.

Recommendation

Do not bid on the supplied evidence alone. Obtain comparable sales, independent valuations for the two flats, a measured refurbishment quotation, rental appraisals and confirmation of any additional seller fees and conversion consents before considering a BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

The guide price, accommodation, tenure, vacancy and one non-comparable rental listing are supplied, but there are no sold comparables, subject rent, works costs, GDV, finance costs or complete fee schedule.