2a Ryecroft Road, Hither Green, London, SE13 6EZ

Description

Ground floor self-contained flat with share of freehold. Possible potential for residential development, subject to consents. Rear garden. Virtual tour available.

Accommodation

Ground Floor - Reception Room/Kitchen, Two Bedrooms, Bathroom; Rear Garden

Location

The property is situated on the north side of Ryecroft Road. Hither Green Rail Station is situated 0.5 miles to the south. Shops, bars and restaurants are available nearby along Lewisham High Street. Easy access to the A20. Lewisham Park is within easy reach.

Tenure / Property Information

Investment Analysis

Current market value cannot be reliably established from the supplied evidence. The only completed sale is a £82,700 freehold flat sale from 2003 on the same road, which is too old and not sufficiently comparable for a current valuation. The £230,000+ auction guide is not a formal valuation. Potential residential development is expressly subject to consents.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining current comparable sales, a full inspection, confirmed lease and title information, service-charge details, buyer and seller fees, and planning advice on the stated development potential. On the supplied evidence, avoid bidding solely on the guide or headline rental yield.

Works Required

No specific physical defects or refurbishment works are evidenced. Allow only for inspection-led works, cleaning and redecoration if required, and investigate the stated development potential and all necessary consents before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because current GDV, refurbishment costs, acquisition charges and refinance valuation evidence are absent. The lease commenced in 1988 for 125 years, so the remaining term should be verified before relying on refinanceability. Development potential is subject to consents.

Buy-to-Let Analysis

The supplied advertised asking rents of £1,700–£1,850 pcm imply annual gross rent of £20,400–£22,200. Against the £230,000 guide, this equates to approximately 8.9%–9.7% gross yield before finance, management, maintenance, voids, tax and acquisition costs. These are asking rents rather than achieved rents, and no EPC, service charge, insurance, works cost or buyer fees are supplied, so net returns and a full project yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated reliably. Current GDV evidence, refurbishment costs, selling costs and buyer charges are unavailable. The 2003 comparable is too old to support a resale valuation.

Investor Risks & Due Diligence

• Current market value is unsupported; the only supplied sale is from 2003 and is freehold rather than a current comparable.

• Advertised rental figures are asking rents, not achieved rents.

• Potential residential development is subject to planning and other consents.

• Buyer premiums, administration charges and other seller or third-party fees are unspecified.

• Property condition and refurbishment requirements are not evidenced.

• Lease term and title details should be verified before purchase or refinancing.

Recommendation

Proceed only after obtaining current comparable sales, a full inspection, confirmed lease and title information, service-charge details, buyer and seller fees, and planning advice on the stated development potential. On the supplied evidence, avoid bidding solely on the guide or headline rental yield.

Strategy Rating

Analysis Confidence

Evidence includes the guide, one very old comparable and two advertised rents, but lacks current sales evidence, condition, costs, EPC, service charges, fees and a supported GDV.