24 Dunkery Road, Mottingham, London

Description

A Vacant Three Bedroom Semi Detached House. Potential for Rear Extension (Subject to Obtaining all Relevant Consents). The property comprises a three bedroom semi detached house arranged over ground and first floors.

Accommodation

Ground Floor: Through Reception Room; Kitchen. First Floor: Three Bedrooms; Bathroom. Exterior: The property benefits from both front and rear gardens and a garage.

Location

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

Tenure / Property Information

Investment Analysis

The strongest evidence is a £498,000 completed sale of a semi-detached property on Dunkery Road in September 2020. This is dated and does not establish current value or condition-adjusted GDV. A £498,000 base GDV is therefore indicative only.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting condition and validating current value. The evidenced rent produces a weak BTL case; any decision depends on value and extension potential being independently verified.

Works Required

No specific defects or required works are evidenced. Assess condition, EPC E implications and the feasibility and cost of any rear extension, which remains subject to consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £498,000 GDV would be £373,500. However, refurbishment costs, total acquisition costs and current GDV are not sufficiently evidenced, so cash recycling and equity cannot be reliably calculated.

Buy-to-Let Analysis

The advertised £550 pcm rent equates to £6,600 annually and approximately 2.28% gross yield against the £290,000 guide. This excludes the £1,800 administration charge, other legal/disbursement charges and any works. The rent is an asking rent, not achieved rent.

Flip Analysis

Using the dated £498,000 comparable as an indicative GDV, resale potential appears materially above the guide. However, refurbishment costs, selling costs, current market value and the property's condition are unsupported, so flip surplus cannot be quantified.

Investor Risks & Due Diligence

• The principal comparable completed in 2020 and may not represent current market value.

• Property condition and refurbishment requirements are not evidenced.

• The £550 pcm figure is an advertised asking rent rather than achieved rent.

• EPC rating is E.

• Rear extension is subject to obtaining all relevant consents.

• Special conditions may impose additional legal, transfer, search or seller-cost charges.

• The guide is stated as plus fees and the £1,800 administration charge is payable.

Recommendation

Proceed only after reviewing the legal pack, inspecting condition and validating current value. The evidenced rent produces a weak BTL case; any decision depends on value and extension potential being independently verified.

Strategy Rating

Analysis Confidence

There is one relatively recent local sold comparable, but it is from 2020; current valuation, condition, refurbishment costs, achieved rent and full purchase charges are not evidenced.