30 Manford Court, Manford Way, Chigwell, Redbridge, IG7 4DP

Description

A Vacant Second and Third Floor Two/Three Bedroom Split Level Flat. The property comprises a second and third floor two/three bedroom split level flat situated within a mixed use parade arranged over ground and three upper floors.

Accommodation

Second Floor: Reception Room/Bedroom; Kitchen/Reception. Third Floor: Two Bedrooms; Bathroom; Separate WC.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Hainault Recreation Ground are within easy reach. Transport links are provided by Hainault underground station (Central line) and the M11.

Tenure / Property Information

Investment Analysis

The five supplied completed sales at Manford Court range from £200,000 to £280,000. The two most recent sales were £250,000 and £280,000 in February 2025. A base GDV of £265,000 is used, with a low case of £250,000 and high case of £280,000. Comparability is limited because the sale accommodation, condition and transaction circumstances are not supplied.

Investment Snapshot

Strategy Recommendation

Prioritise a buy-to-let or refinance-led strategy only if inspection, lease, service-charge position and achieved-rent evidence support the case. Do not bid on the apparent GDV spread alone, because works and additional auction disbursements are unknown.

Works Required

No specific defects or refurbishment works are evidenced. The property is vacant and has an EPC rating of E; inspection should establish whether decoration, repairs, statutory works or energy improvements are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £265,000 base GDV, 75% refinance is £198,750. Against the guide plus the known £1,800 administration charge, this indicates approximately £31,950 could theoretically remain after refinance, before finance, valuation, legal, tax and any refurbishment costs. The result depends on the lender's valuation, lease acceptability, affordability and unknown works or building charges.

Buy-to-Let Analysis

At the £165,000 guide, the single supplied advertised asking rent of £1,700 pcm implies annual rent of £20,400 and a gross yield of 12.36% before finance, management, maintenance, service charges, insurance, voids and tax. The rent is an asking rent rather than achieved evidence, and lease/service-charge information is incomplete. BTL appears potentially attractive at or near guide subject to inspection and legal-pack review.

Flip Analysis

The base GDV provides a gross spread of £98,200 against the £165,000 guide and known £1,800 administration charge, before refurbishment, selling, finance, tax and other costs. A reliable flip surplus cannot be calculated because refurbishment requirements and selling costs are unsupported. The vacant status may assist resale, but condition and legal-pack risks remain unverified.

Investor Risks & Due Diligence

• The £1,700 pcm figure is an advertised asking rent, not achieved rental evidence.

• The property has an EPC rating of E; required improvement works and costs are unknown.

• The lease has approximately 91 years unexpired, but ground rent, service charge, major works and lease restrictions are not supplied.

• The £1,800 administration charge is known, while further legal-pack disbursements and special-condition costs may apply.

• The property is described as within a mixed-use parade, but any implications for noise, management or lender acceptability are unverified.

• Comparable sale accommodation, condition and transaction circumstances are not supplied, limiting GDV certainty.

• No parking, heating or council-tax information is supplied.

Recommendation

Prioritise a buy-to-let or refinance-led strategy only if inspection, lease, service-charge position and achieved-rent evidence support the case. Do not bid on the apparent GDV spread alone, because works and additional auction disbursements are unknown.

Strategy Rating

Analysis Confidence

Completed sales and one advertised rent are available, but accommodation comparability, condition, service charges, lease covenants, buyer disbursements and refurbishment requirements are incomplete.