21 Lansdowne Avenue, Leigh-on-Sea, Essex

Description

This Freehold End-Terraced house is located a stones throw from Leigh Road and within easy access of both Chalkwell Park and Leigh Broadway. In need of modernisation / updating throughout there are two reception rooms and a westerly facing rear garden. The property is vacant and is therefore considered suitable for owner occupiers and investors alike.

Accommodation

Entrance Hall with 2 understairs cupboards; ground floor cloakroom; lounge: 15'8 into bay x 10'7; dining room: 13'2 x 9'9; conservatory: 13'3 x 7'8; kitchen: 9'10 x 5'9; first floor landing with access to loft space; bedroom one: 15'6 into bay x 9'8; bedroom two: 13'3 x 8'8; bedroom three: 8'4 to cupboard x 5'10; bathroom/WC: 8'4 max x 6'10 max with four-piece suite; westerly facing rear garden with workshop measuring 14'4 x 8'9.

Location

Located a stones throw from Leigh Road and within easy access of Chalkwell Park and Leigh Broadway.

Tenure / Property Information

Investment Analysis

Five same-road freehold terraced sales range from £330,000 to £635,000, with a median of £515,000 and average of £519,200. A £515,000 base GDV is used as an evidence-derived midpoint, but bedroom count, condition and specification of the comparables are not supplied. The observed range supports low and high scenarios of £330,000 and £635,000; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining a building survey, detailed refurbishment quote and full auction fee schedule. The guide price appears below the evidence-derived base GDV, but the missing works and fee data prevent a reliable maximum bid or confirmed investment return.

Works Required

Modernisation and updating throughout, consistent with the auction description. No detailed schedule, building survey or cost evidence is supplied, so the scope and budget cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £515,000 base GDV, 75% refinancing equates to £386,250. This exceeds the £350,000 guide price by £36,250, but cannot be compared with total invested capital because works, fees and finance costs are unknown. Refinancing is therefore unconfirmed and dependent on valuation, lender criteria and refurbishment cost.

Buy-to-Let Analysis

The supplied £1,400 pcm figure is an advertised asking rent, not an achieved rent or passing rent. This equates to £16,800 annually and a 4.8% gross yield on the £350,000 guide price before works, finance, tax and fees. The yield on total project cost cannot be established because refurbishment costs and buyer fees are unavailable.

Flip Analysis

The evidence-derived base GDV is £515,000, with observed same-road comparable scenarios from £330,000 to £635,000. A flip surplus cannot be calculated because refurbishment costs, buyer fees, selling costs and finance costs are not supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unquantified despite the property requiring modernisation and updating throughout.

• The comparable sales vary materially from £330,000 to £635,000, and their bedroom counts and condition are not supplied.

• The £1,400 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Buyer, administration, selling, finance and other auction-related costs are not supplied.

• The property is vacant, so there is no existing rental income.

• A 75% GDV refinance is an assumption and is subject to lender valuation and criteria.

Recommendation

Proceed only after obtaining a building survey, detailed refurbishment quote and full auction fee schedule. The guide price appears below the evidence-derived base GDV, but the missing works and fee data prevent a reliable maximum bid or confirmed investment return.

Strategy Rating

Analysis Confidence

The property description, guide price, five same-road completed sales and one advertised rent are available, but comparable specifications, condition, EPC, fees, refurbishment costs and achieved rental evidence are absent.