17 Clive Court, Surbiton, London

Description

First floor self-contained maisonette with two bedrooms, in need of modernisation, approximately 65 sq m (676 sq ft), rear balcony and garden, less than 0.5 miles from Tolworth Station, side access with own front door. Vacant.

Accommodation

Two bedrooms, kitchen, bathroom/wc. Rear balcony with access to rear garden.

Location

Situated to the west side of Oakleigh Avenue within a well established residential area. Convenient to the local amenities on Tolworth Broadway. Tolworth Station provides a frequent commuter service into central London.

Tenure / Property Information

Investment Analysis

The same Clive Court/Oakleigh Avenue evidence records completed sales from £263,500 to £330,000, including £295,000 in September 2022. These are historical comparables and no size, condition, service-charge or current-market adjustment is supplied. An evidence-based scenario range is £263,500–£330,000, with £295,000 used as the base GDV. The £180,000 guide represents a substantial gross discount to those historic sales, but refurbishment and transaction costs are not quantified.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase only subject to inspection, a full refurbishment quotation and confirmation that the new lease and garden/balcony rights are acceptable. Do not bid on the comparable-sales uplift alone; the absence of rent and cost evidence makes BTL and BRRR underwriting incomplete.

Works Required

Modernisation is required, but the evidence does not specify the extent of works. Obtain a detailed inspection and price only evidenced items, potentially including updating the kitchen, bathroom, decoration and finishes if confirmed. Verify the rear garden, balcony, own front door and side access, together with lease and management requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, 75% refinance is £221,250. This is £41,250 above the £180,000 guide before allowing for refurbishment, finance, tax and transaction costs. Cash left in cannot be calculated because works and buyer costs are unsupported. Confirm valuation, lease terms, service charges and refinance eligibility before proceeding.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, but achievable rent, service charges, refurbishment cost and other ownership costs remain unknown.

Flip Analysis

The historic comparable evidence indicates a base GDV of £295,000, but a reliable flip surplus cannot be calculated because refurbishment costs, selling costs and buyer costs are not supplied. The property is described as needing modernisation, so the apparent guide-to-GDV gap should not be treated as profit.

Investor Risks & Due Diligence

• Historic comparable prices may not represent current market value.

• The property is stated to need modernisation, but the extent and cost of works are unknown.

• No sufficiently specific rental evidence is available, so yield and rental coverage cannot be assessed.

• Buyer, administration, finance, tax and selling costs are not supplied.

• Service charges, ground rent, repair obligations and other lease terms are not supplied.

• The new 150-year lease, rear garden, balcony and access arrangements should be legally verified before bidding.

Recommendation

Potential value-add purchase only subject to inspection, a full refurbishment quotation and confirmation that the new lease and garden/balcony rights are acceptable. Do not bid on the comparable-sales uplift alone; the absence of rent and cost evidence makes BTL and BRRR underwriting incomplete.

Strategy Rating

Analysis Confidence

Same-development completed sales and the guide price are available, but the sales are historical and there is no quantified refurbishment budget, rental evidence, buyer-cost schedule, service-charge information or detailed lease terms.