3, Wickers Oake, Dulwich Wood Park, London, SE19 1XJ

Description

First time on market since built. Freehold detached bungalow requiring some modernisation, with development potential. The property was built in 1979 and has been in the same family ownership since it was built. It extends to approximately 1,522 sq. ft. plus an integral garage of approximately 297 sq. ft., within grounds of 0.23 acre.

Accommodation

Entrance hallway, five bedrooms, three bathroom/shower rooms including one en-suite wet room, reception room, conservatory, kitchen and utility room.

Location

The property is in a premier location, with Wickers Oake being a cul-de-sac leading off Dulwich Wood Park. Crystal Palace Park is within a few minutes' walk, with Dulwich Village and Park to the north. Gipsy Hill Station is within a 0.6 mile walk, with direct services to London Bridge and London Victoria. There is a range of shopping and recreational facilities in Gipsy Hill and Dulwich, and the centres of Beckenham, Bromley and Croydon are accessible.

Tenure / Property Information

Investment Analysis

The only supplied comparable is the same-street detached freehold property sold for £679,950 in March 2011, which is too old to support a current market value or GDV. The subject is a larger five-bedroom detached bungalow on approximately 0.23 acre, with a garage, vacant possession and stated development potential, but no planning evidence, current valuation evidence or quantified condition information is supplied. The £800,000 guide cannot therefore be validated against the available evidence.

Investment Snapshot

Strategy Recommendation

Do not bid for a refurbishment, BRRR or flip strategy on the current evidence. Obtain a full survey, current local valuation, detailed buyer and seller fee schedule, and planning advice on the stated development potential before setting a maximum bid. The property may suit an owner occupier, subject to affordability and inspection.

Works Required

Undertake a full survey and costed modernisation assessment. The evidence supports reviewing the existing accommodation and finishes, kitchen, bathrooms, decoration, EPC-related items and heating system, which requires further information. Investigate development potential and planning feasibility separately; no specific scheme or works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR analysis cannot be supported without a current GDV, refurbishment budget, rent evidence and finance assumptions. The property is vacant and freehold, but the guide price is not independently validated by the supplied evidence. Development potential should not be included in value until planning and costs are evidenced.

Buy-to-Let Analysis

A BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Modernisation costs, operating costs and any development value are also unquantified. The known buyer cost is £1,800 inclusive of VAT, with possible additional seller charges under the special conditions.

Flip Analysis

A flip appraisal cannot be calculated. The only comparable is from 2011 and no current GDV, refurbishment allowance, selling allowance or detailed condition assessment is supplied. The known £1,800 buyer documentation fee and possible additional seller charges would need to be included once the project budget is established.

Investor Risks & Due Diligence

• Current market value and GDV cannot be established from the supplied evidence.

• The property requires some modernisation, but the scope and cost are unknown.

• Heating information is unavailable and requires confirmation.

• Stated development potential is unquantified and has no supplied planning evidence.

• No sufficiently specific rental evidence is available for yield analysis.

• Additional seller charges may be payable under the special conditions of sale.

• The only supplied comparable dates from 2011 and may not reflect current market conditions.

Recommendation

Do not bid for a refurbishment, BRRR or flip strategy on the current evidence. Obtain a full survey, current local valuation, detailed buyer and seller fee schedule, and planning advice on the stated development potential before setting a maximum bid. The property may suit an owner occupier, subject to affordability and inspection.

Strategy Rating

Analysis Confidence

The evidence confirms the property’s basic characteristics, tenure, vacancy and guide price, but provides no current valuation, rental evidence, quantified works, planning information or complete fee schedule. The available sale comparable is more than 15 years old.