31 Cody Close, Wallington, Surrey, SM6 9EW

Description

A Vacant Ground Floor Two Bedroom Flat in Need of Modernisation. The property comprises a ground floor two bedroom flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom. Exterior: Rear patio and off street parking.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Roundshaw Park are within easy reach. Transport links are provided by Wallington rail station.

Tenure / Property Information

Investment Analysis

The only directly comparable completed sale is 24 Cody Close at £146,000 in January 2015. Older sales at the same address were £104,000 in 2006 and £33,750 in 2002. These provide useful local evidence but are too dated to establish a current GDV without newer comparables or valuation evidence.

Investment Snapshot

Strategy Recommendation

Do not set a bid based on the available evidence alone. Obtain a current valuation, inspection-based works quotation, rental evidence and full legal-pack cost review before considering purchase.

Works Required

Modernisation of the vacant two-bedroom flat, including review and updating of the kitchen, bathroom, decoration and finishes as supported by the description. Scope and cost require inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because current GDV, refurbishment cost, rent and total acquisition costs are unsupported. The long stated lease is positive evidence, but lease liabilities and legal-pack terms remain unconfirmed.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, service charge, ground rent or full acquisition-cost information is supplied. At the £90,000 guide, the known £1,800 administration charge is additional, with other possible disbursements unspecified.

Flip Analysis

A flip may have potential relative to the 2015 £146,000 same-close sale, but that transaction is dated and no current GDV, works budget, selling allowance or full fees are supplied. Profit cannot be calculated reliably.

Investor Risks & Due Diligence

• The only directly comparable sale is from 2015 and may not reflect current value.

• The flat requires modernisation, but no inspection-based works budget is available.

• No specific rental evidence or rent estimate is supplied.

• Service charge, ground rent and other lease liabilities are not provided.

• Potential disbursements, seller costs, legal fees, search fees and transfer fees are unspecified.

• The property is being sold by auction and the guide price is not a valuation.

Recommendation

Do not set a bid based on the available evidence alone. Obtain a current valuation, inspection-based works quotation, rental evidence and full legal-pack cost review before considering purchase.

Strategy Rating

Analysis Confidence

Evidence includes one relevant but dated comparable and a guide price, but lacks current valuation, rental evidence, refurbishment cost, service-charge information and complete buyer costs.