19A Laurel Grove, Penge, London

Description

A two bedroom split level flat over the ground and first floors of this semi-detached period building. The property requires refurbishment and upgrading.

Accommodation

Ground Floor: Entrance Hall, reception room, kitchen, bedroom; communal gardens (TBC). First Floor: bedroom, bathroom.

Location

Situated close to Penge High Street, Penge West station and Crystal Palace Park.

Tenure / Property Information

Investment Analysis

The five supplied Laurel Grove leasehold flat sales range from £217,500 to £425,000, with materially different dates and no bedroom, size, condition or specification details. They therefore do not support a reliable subject-specific GDV. The £247,500 guide is below three supplied comparables but above two older sales. The £1,600 pcm rent is an advertised asking rent only.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, full lease and special-conditions review, and a detailed refurbishment quotation. Do not rely on the asking rent or the supplied comparables alone to set a maximum bid.

Works Required

General refurbishment and upgrading as stated by the auction description. No detailed schedule, specification or condition defects are supplied, so the scope and cost cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because refurbishment costs, total project costs, a supported GDV, service-charge information and refinance terms are unavailable. The new 125-year lease is stated, but lease-related contract details and other charges require review.

Buy-to-Let Analysis

At the £247,500 guide, the £1,600 pcm advertised asking rent equates to an indicative gross yield of 7.76% before refurbishment, finance, service charges, insurance, management, voids and other costs. Passing rent is not evidenced, and the missing cost information prevents a net-yield assessment.

Flip Analysis

A flip surplus cannot be quantified. The comparable evidence is too variable and lacks size, bedroom and condition details, while refurbishment and selling costs are unsupported. The £1,500 contract administration charge is known, but other possible auction costs are not.

Investor Risks & Due Diligence

• Refurbishment and upgrading are required, but no detailed scope or cost evidence is supplied.

• The sold comparables range widely from £217,500 to £425,000 and lack bedroom, size and condition details.

• The £1,600 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Service charges, ground rent, insurance, council tax, parking and heating details are not supplied.

• A £1,500 contract administration charge is payable on exchange, with additional possible fees or disbursements under the sale conditions.

• Communal gardens are stated as TBC.

• The lease is stated to commence on 12/11/2026; lease documentation and completion implications should be checked.

Recommendation

Proceed only subject to inspection, full lease and special-conditions review, and a detailed refurbishment quotation. Do not rely on the asking rent or the supplied comparables alone to set a maximum bid.

Strategy Rating

Analysis Confidence

Basic property, guide, lease, one asking-rent listing, administration charge and several sold prices are supplied, but comparable specifications, refurbishment costs, lease financials, service charges and other acquisition or disposal costs are absent.