22 Wenham Drive, Westcliff-on-Sea, Essex

Description

This established terrace house is situated on a tree-lined avenue, having been purchased and undergone renovation in 2024. The property is well placed for access to local shops, bars, restaurants and recreational facilities, including the Palace Theatre. Furthermore, Westcliff-on-Sea has a mainline railway station connecting to London (Fenchurch Street), as well as the popular seafront attractions. The surrounding area offers further high-street shopping, retail parks, sports and leisure activities, and entertainment venues. The location provides good access to the road network, including the A127 and A13, with travel further afield via London Southend Airport. This recently improved home offers many character features and bay windows, with an enclosed garden to the rear.

Accommodation

Ground Floor: Entrance, reception hallway, cloakroom/W.C., living room with bay window, open-plan diner/kitchen and dining area with bay window and French doors opening onto the garden. First Floor: Landing, three bedrooms and bathroom/W.C. Outside: To the front of the property there is a small enclosed yard area. To the rear is a lawned garden with an outdoor W.C. and storage/boiler cupboard.

Location

Situated on a tree-lined avenue in Westcliff-on-Sea, with access to local shops, bars, restaurants, recreational facilities including the Palace Theatre, Westcliff-on-Sea mainline railway station connecting to London (Fenchurch Street), seafront attractions, high-street shopping, retail parks, sports and leisure activities, entertainment venues, the A127 and A13, and London Southend Airport.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same property selling for £289,000 in August 2024. A different terrace at 16 Wenham Drive sold for £387,000 in December 2022, but it is not directly comparable and is older evidence. The £320,000 guide is therefore a cautious provisional base GDV rather than a supported formal valuation; the guide is already £31,000 above the latest sale of this property.

Investment Snapshot

Strategy Recommendation

Do not rely on a flip or BRRRR case at the £320,000 guide. Consider only after independent inspection and evidence that the renovation supports a value above the latest £289,000 sale; the advertised rent suggests a modest BTL return.

Works Required

The property is described as having undergone renovation in 2024. No specific defects or outstanding works are evidenced, so no refurbishment allowance is applied. Buyer should verify the quality and completeness of the renovation, including the gas heating system, kitchen, bathroom, roof, windows and external areas.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £320,000 guide, 75% of the provisional £320,000 GDV is £240,000. The property is described as renovated, but no works budget, finance costs, buyer fees or other acquisition costs are supplied, so total cash required and cash left in cannot be established. The latest same-property sale at £289,000 makes refinance at the guide-based GDV uncertain.

Buy-to-Let Analysis

The supplied asking rent is £1,125 pcm, equivalent to £13,500 annually. Against the £320,000 guide, this indicates a gross yield of approximately 4.22% before finance, maintenance, voids, management, tax and acquisition costs. The rent is advertised rather than achieved, and no completed rental evidence or operating-cost information is supplied.

Flip Analysis

A provisional £320,000 GDV is only £31,000 above the same property's August 2024 sale price of £289,000. The £387,000 sale at another address provides an upper reference point but is from 2022 and is not directly comparable. With unspecified buyer costs, selling costs and refurbishment costs, a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The £320,000 guide exceeds the latest recorded sale of the same property at £289,000 in August 2024.

• The £1,125 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Administration, search, other non-optional fees, Stamp Duty, Land Registry fees and VAT may be payable, but amounts are not supplied.

• The stated 2024 renovation has not been independently verified and no detailed condition report or works schedule is provided.

• The £387,000 comparable is a different property and dates from 2022, limiting its reliability as a current valuation indicator.

Recommendation

Do not rely on a flip or BRRRR case at the £320,000 guide. Consider only after independent inspection and evidence that the renovation supports a value above the latest £289,000 sale; the advertised rent suggests a modest BTL return.

Strategy Rating

Analysis Confidence

The evidence includes an exact recent sale, one advertised rent and several historic local sales, but lacks independent valuation, achieved rental evidence, refurbishment costs, buyer fees, selling costs and finance assumptions.