16, Ampthill House, Montgomery Crescent, ROMFORD, Essex, RM3 7TA

Description

Leasehold ground floor flat

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on Montgomery Crescent. Shopping amenities can be found locally within Romford Town Centre to the south west and Hornchurch Town Centre to the south, with a further range of amenities found within Central London located to the south west. Public transport links are available at Harold Wood London Underground Station (Elizabeth Line) and Emerson Park London Overground Station, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A12 to the north and A127 to the south. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

The only sold evidence is within Ampthill House: £92,000 in June 2013 and £149,000 in May 2017. These are completed sales but are dated and provide no bedroom, condition, floor or lease details. A base GDV of £149,000 uses the latest supplied same-building sale, while £92,000 is retained as a low evidence point. Current market value remains uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack, lease, service-charge, ground-rent and flat-specific valuation checks. Do not rely on the supplied house rents or assume a flip margin from the dated comparable.

Works Required

No physical defects or required works are evidenced. Allow for inspection, confirmation of heating and parking, and review of the lease and legal pack. Any refurbishment allowance is unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the latest same-building sale as a base GDV gives an indicative 75% refinance figure of £111,750. Purchase price, works, service charge, ground rent and any seller fees prevent calculation of total project cost, cash left in or equity before finance and tax.

Buy-to-Let Analysis

The supplied rental evidence comprises two advertised £1,600 pcm rents for one-bedroom houses, not flats, and asking rents are not achieved rents. A reliable flat rent and BTL yield cannot therefore be established. Ground rent, service charge and seller fees are also unknown.

Flip Analysis

The latest same-building completed sale is £149,000 against the £121,000 guide, but it dates from 2017 and no works or selling-cost allowance is supplied. A reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The 88-year lease requires legal review and may affect value and mortgageability.

• Ground rent is currently unknown.

• Service charge is not supplied.

• Potential seller fees under the Special Conditions of Sale are unknown.

• The rental evidence relates to houses rather than flats and consists only of advertised asking rents.

• Parking and heating information are unconfirmed.

• Comparable sales are dated and lack detailed property specifications.

Recommendation

Proceed only subject to legal-pack, lease, service-charge, ground-rent and flat-specific valuation checks. Do not rely on the supplied house rents or assume a flip margin from the dated comparable.

Strategy Rating

Analysis Confidence

There is one relevant same-building sale from 2017 and one older sale, but no current flat-specific rent, condition, service charge, ground rent, seller fees or full lease information.