23 Grovelands Road, Orpington, Kent, BR5 3EQ

Description

By order of a major housing association. Freehold end terrace house requiring updating. Full vacant possession. 3D Tour available.

Accommodation

Approx. 116m² / 1,250 sq ft. Second floor: one bedroom. First floor: three bedrooms, bathroom/WC. Ground floor: entrance hall, reception room, kitchen, cloakroom/WC, conservatory. Outside: front and rear gardens.

Location

Situated on Grovelands Road, well positioned for the amenities of St Pauls Cray, Chislehurst, Swanley, Sidcup and Orpington. Transport options include local bus routes, rail connections via St Marys Cray, Sidcup and Chislehurst, or road links via the A20 and M25.

Tenure / Property Information

Investment Analysis

The supplied completed sales are same-road freehold terraced comparables at £300,000 in June 2018 and £338,000 in May 2017, with earlier sales of £243,500, £212,500 and £200,000. They are historic and no condition, size or bedroom comparison is provided. The £329,000 guide cannot therefore be validated as current market value or GDV. No supported GDV scenario can be calculated.

Investment Snapshot

Strategy Recommendation

Treat as a conditional refurbishment purchase only. Do not set a bid limit until the current condition, full special conditions, applicable seller fees, refurbishment quotations and local resale evidence have been verified.

Works Required

Updating is required, but the evidence does not specify defects or scope. Obtain the 3D tour, inspection findings and contractor quotations before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, achievable rent and total project cost are unsupported. The known £1,800 inclusive-of-VAT contract documentation fee should be included in any later appraisal, alongside any applicable seller fees.

Buy-to-Let Analysis

The property is vacant, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rental income and gross yield cannot be established. Updating costs and any buyer costs beyond the known £1,800 contract documentation fee are also unquantified.

Flip Analysis

A flip appraisal cannot be completed reliably. Historic same-road sales provide context only and no supported selling allowance, current GDV or refurbishment budget is available. The guide is £329,000 before the known £1,800 documentation fee and any applicable seller fees.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not specified.

• No sufficiently specific rental evidence is available, so rental yield cannot be assessed.

• The supplied sold comparables are historic, dating from 2009 to 2018.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Parking and heating details require confirmation from the auction centre.

• The £1,800 inclusive-of-VAT contract documentation fee is payable by the buyer.

Recommendation

Treat as a conditional refurbishment purchase only. Do not set a bid limit until the current condition, full special conditions, applicable seller fees, refurbishment quotations and local resale evidence have been verified.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation, guide price and several historic same-road sales, but lacks current comparable evidence, condition detail, refurbishment costs, rental evidence, parking/heating information and potentially applicable seller fees.