21 Arngask Road, Hither Green, London, SE6 1XY

Description

A Vacant Three Bedroom Mid Terrace House in Need of Refurbishment. Potential To Extend into the Loft (Subject to Obtaining all Relevant Consents).

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, Bathroom. First Floor: Three Bedrooms, Bathroom. Exterior: Front and rear gardens.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Mountsfield Park are within easy reach. Transport links are provided by Catford Bridge rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £500,000 to £850,000, with most evidence between £595,000 and £670,000. The £850,000 sale appears high relative to the other evidence, while the subject is vacant, requires refurbishment and is held on a very long lease rather than freehold. An indicative base GDV of £595,000 is used, with a £500,000 low scenario and £670,000 high scenario. These are estimates only because bedroom counts, floor areas, condition and sale specifications for the comparables are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally after reviewing the legal pack, confirming the lease/freehold position and obtaining a full survey and refurbishment quotations. At the guide, the advertised rent gives an attractive headline gross yield, but the missing works and completion costs prevent a firm BTL, BRRR or flip bid decision.

Works Required

Refurbishment is required, but the evidence does not itemise the condition or scope. Obtain a survey and contractor quotations before bidding. Loft extension potential is stated, subject to all relevant consents, but no value or cost is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £595,000 base GDV, 75% refinance would be approximately £446,250. However, total project cost and cash left in cannot be calculated because the refurbishment allowance, disbursements and acquisition costs beyond the £1,800 administration fee are not fully evidenced. The long lease is stated to have approximately 867 years unexpired, but freehold purchase terms require legal-pack review.

Buy-to-Let Analysis

The supplied £2,400 pcm figure is an advertised asking rent, not an achieved rent or passing rent. At the £310,000 guide, this equates to £28,800 annual gross rent and approximately 9.29% gross yield before refurbishment, finance, tax, management, maintenance and other costs. A net yield and total-cost yield cannot be established because refurbishment costs and other completion costs are not quantified.

Flip Analysis

The indicative resale range is £500,000 to £670,000, based on supplied same-road completed sales. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and full acquisition costs are unsupported. The comparable sales also vary materially and are stated as freehold, whereas the subject is held on a long lease.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not provided.

• The rent is an advertised asking rent rather than achieved or passing rent.

• Comparable sales are freehold and vary from £500,000 to £850,000; their sizes, bedroom counts and condition are not supplied.

• Freehold purchase terms and any lease-related legal matters require legal-pack review.

• Additional disbursements, search fees, seller costs, legal fees or transfer fees may be payable under the special conditions.

• Loft extension potential is subject to obtaining all relevant consents and no value or cost has been assumed.

Recommendation

Proceed only conditionally after reviewing the legal pack, confirming the lease/freehold position and obtaining a full survey and refurbishment quotations. At the guide, the advertised rent gives an attractive headline gross yield, but the missing works and completion costs prevent a firm BTL, BRRR or flip bid decision.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale evidence, a guide price, a long-lease statement and one advertised rent. Confidence is reduced by missing floor areas, comparable specifications, detailed condition, refurbishment costs, full fees, EPC and legal-pack disbursements.