25 Fairfield Avenue, Grays, Thurrock, RM16 2LU

Description

A Vacant Three Bedroom Semi Detached Chalet Bungalow in Need of Refurbishment. Potential for Extension (Subject to Obtaining all Relevant Consents). The property comprises a three bedroom semi detached chalet bungalow arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room; Kitchen/Diner; Bedroom; Bathroom. First Floor: Two Bedrooms. Exterior: The property benefits from a garage, both front and rear gardens and off street parking.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King George's Field are within easy reach. Transport links are provided by Grays rail station.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £365,000 to £469,995, with the latest supplied sale at £460,000 in November 2024. These comparables do not provide condition, size or specification details, so a base GDV of £460,000 is an indicative evidence-led estimate only.

Investment Snapshot

Strategy Recommendation

Conditional refurbishment-led BTL or resale, subject to survey, legal-pack review, extension feasibility and verified contractor costs. Do not bid solely on the headline GDV spread.

Works Required

Refurbishment is required, but the evidence does not specify the defects or scope. Obtain a full survey and contractor quotations. Any extension remains subject to relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The indicative base GDV supports potential refinance proceeds of £345,000 at 75% LTV. However, required refurbishment expenditure, finance costs and completion costs are unavailable, so cash left in and viability cannot be confirmed.

Buy-to-Let Analysis

The advertised asking rent of £1,575 pcm implies £18,900 annual gross rent and a 7.56% gross yield against the £250,000 guide. A yield on total project cost cannot be established because refurbishment costs and other purchaser costs are unknown.

Flip Analysis

A potential resale value is indicated by same-road sales between £365,000 and £469,995. Flip profitability cannot be calculated because refurbishment, selling and other project costs are unsupported.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unspecified.

• Comparable properties may differ in size, condition and specification.

• The rental figure is an advertised asking rent, not an achieved rent.

• Extension potential is subject to obtaining all relevant consents.

• Additional legal-pack disbursements and other purchaser charges may apply.

Recommendation

Conditional refurbishment-led BTL or resale, subject to survey, legal-pack review, extension feasibility and verified contractor costs. Do not bid solely on the headline GDV spread.

Strategy Rating

Analysis Confidence

Same-road sold comparables and one advertised rental are available, but condition-adjusted valuation, refurbishment costs, full fees and legal-pack details are absent.