22 Tower Heights, Burford Street, Hoddesdon, Hertfordshire, EN11 8UQ

Description

A Vacant Fourth Floor One Bedroom Flat in Need of Refurbishment. The property comprises a fourth floor one bedroom flat situated within a purpose built block arranged over ground and eleven upper floors.

Accommodation

Fourth Floor: Reception Room, Kitchen, Bedroom, Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Barclay Park are within easy reach. Transport links are provided by Rye House rail station.

Tenure / Property Information

Investment Analysis

Indicative GDV is based only on five same-building leasehold sales ranging from £82,500 to £110,000. The £110,000 sale is older, while the four 2024–2025 sales range from £82,500 to £90,000. A base scenario of £86,000 is used, subject to the unknown lease term, condition and exact comparable specifications.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming the unexpired lease and obtaining a full refurbishment cost assessment. Do not rely on the guide price alone.

Works Required

Refurbishment is required, but the evidence does not specify the condition or scope. Any works allowance requires inspection and review of the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR route exists at the £50,000+ guide, but refurbishment cost, rent, lease length, finance costs and total acquisition costs are unsupported. At a £86,000 base GDV, 75% refinance is £64,500, but cash left in cannot be calculated.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and yield cannot be established. The property is vacant and leasehold; lease terms and refurbishment costs remain important unknowns.

Flip Analysis

Indicative resale value is £86,000 based on recent same-building sales. A flip surplus cannot be calculated because refurbishment, acquisition-related charges and selling costs are not quantified.

Investor Risks & Due Diligence

• The lease length is not provided and must be confirmed from the legal pack.

• Refurbishment is required but its scope and cost are unknown.

• No sufficiently specific rental evidence is available.

• Additional legal, search, seller-cost reimbursement and transfer charges may apply.

• Sold comparables do not provide bedroom, floor, condition or lease-length details.

Recommendation

Proceed only after reviewing the legal pack, confirming the unexpired lease and obtaining a full refurbishment cost assessment. Do not rely on the guide price alone.

Strategy Rating

Analysis Confidence

Same-building sold evidence supports an indicative GDV, but bedroom details, condition, lease length, rental evidence, refurbishment costs and several purchase charges are unavailable.