27 Victoria House, Enterprize Way, Lewisham, London, SE8 3PJ

Description

A Vacant Second Floor One Bedroom Flat. The property comprises a second floor one bedroom flat situated within a purpose built block arranged over ground and two upper floors. The property benefits from a view of the River Thames.

Accommodation

Second 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 Stave Hill Ecological Park are within easy reach as well as South Dock Marina. Transport links are provided by Surrey Quays overground station and Canada Water underground station (Jubilee Line).

Tenure / Property Information

Investment Analysis

The latest supplied completed sale in the same building was £270,000 in March 2022, with an earlier same-building sale at £305,000 in August 2019. These sales are not stated to be the same flat and provide limited evidence of current value or condition. A cautious base GDV of £270,000 is used, with a supported comparable range of £270,000–£305,000. The approximately 63-year lease is a material valuation, mortgageability and resale risk; service charge, ground rent, lease-extension terms and any restrictions are not supplied.

Investment Snapshot

Strategy Recommendation

Treat as a conditional BTL/BRRR opportunity only if the legal pack confirms acceptable lease, service-charge and ground-rent terms and finance is available. Do not bid on the current evidence alone; obtain lease and condition advice first.

Works Required

No specific defects or required works are evidenced. Allowance cannot be reliably estimated without inspection and the legal pack; confirm condition, common-parts obligations and any lease requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £150,000 guide plus the known £1,800 administration charge, total evidenced cost is £151,800 before works and other disbursements. A 75% refinance against the £270,000 base GDV would be £202,500, leaving an indicative £50,700 above this evidenced cost before finance, tax, refurbishment, legal, valuation and refinancing costs. This is not a reliable cash-out calculation because the lease term, lender criteria, valuation basis, works and all other costs are unresolved.

Buy-to-Let Analysis

The supplied advertised asking rents range from £650 to £800 pcm, implying £7,800–£9,600 annual rent and approximately 5.2%–6.4% gross yield on the £150,000 guide. Including the known £1,800 administration charge, the equivalent range is approximately 5.1%–6.3% on £151,800. These are asking rents rather than achieved rents, and service charge, ground rent, finance, voids, management, taxes and lease costs are unknown. The approximately 63-year lease may restrict BTL finance and resale.

Flip Analysis

Using the £270,000 base GDV and £151,800 of guide price plus known administration cost, the theoretical difference is £118,200 before refurbishment, selling, legal, finance, tax and other costs. A formal flip surplus cannot be calculated because refurbishment and selling allowances are unsupported. The comparable evidence is limited and does not establish the current resale value of this specific flat.

Investor Risks & Due Diligence

• Approximately 63 years remain on the lease, creating potential mortgageability, valuation, resale and lease-extension risk.

• The comparable sales are not confirmed to be the same flat and do not establish current value or condition.

• Rental figures are advertised asking rents from Lewisham and Deptford, not achieved rent for this flat.

• Service charge, ground rent, major works exposure and lease restrictions are not supplied.

• Refurbishment, finance, legal, tax, selling and other disbursement costs are unknown.

• Vacant possession is stated, but actual condition has not been evidenced.

Recommendation

Treat as a conditional BTL/BRRR opportunity only if the legal pack confirms acceptable lease, service-charge and ground-rent terms and finance is available. Do not bid on the current evidence alone; obtain lease and condition advice first.

Strategy Rating

Analysis Confidence

Same-building completed sales and broad advertised rental evidence are available, but the comparables are not confirmed as the same flat, are dated, and key costs and property information are missing, including condition, service charge, ground rent, EPC, lease restrictions and disbursements.