36 Wellington Gardens, Charlton, London, SE7 7PH

Description

A Vacant Lower Ground Floor Two Bedroom Maisonette in Need of Modernisation. The property comprises a lower ground floor two bedroom maisonette situated within a semi detached building arranged over lower ground, ground and two upper floors.

Accommodation

Lower Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Charlton Park are within easy reach. Transport links are provided by Charlton rail station.

Tenure / Property Information

Investment Analysis

Recent completed sales on Wellington Gardens range from £410,000 to £435,000, with the 2025 £480,000 sale materially higher than the other evidence. A base GDV of £422,500 is supported by the recent £410,000, £435,000 and £422,500 transactions, subject to differences in size, condition, floor level and specification that are not provided. Low and high scenarios use the recent observed range. The £190,000+ guide represents a substantial discount to the indicative GDV, but modernisation costs, legal-pack disbursements and other acquisition costs are unknown.

Investment Snapshot

Strategy Recommendation

Investigate as a potential refurbishment-led purchase or BRRR project, subject to confirming the legal pack, lease terms, service charges, property condition and a contractor-priced scope of works. Do not set a maximum bid without those costs.

Works Required

Modernisation of the vacant lower-ground-floor maisonette, including review and updating of the reception room, kitchen, two bedrooms and bathroom. The evidence does not identify specific defects or provide a works schedule, so no reliable refurbishment allowance can be calculated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £190,000+ guide, the purchase price is well below the comparable-sale-based base GDV of £422,500. A 75% refinance at the base GDV would be approximately £316,875. However, the refurbishment cost, finance costs, legal-pack disbursements, service charges and other acquisition costs are unknown, so cash required and cash left in cannot be calculated reliably.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,271 pcm for a two-bedroom property on Dupree Road, SE7, not this property. It is therefore insufficient to establish a reliable subject-property rent or yield. The flat is vacant, and the leasehold tenure, new 990-year lease and unknown service-charge/ground-rent position should be checked in the legal pack.

Flip Analysis

The recent comparable sales support an indicative resale range of £410,000 to £435,000, with a base of £422,500. A flip appraisal cannot establish a reliable surplus because modernisation costs, selling costs, finance costs and other project costs are not supplied. Comparable properties may also differ in condition, size and layout.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but no detailed condition survey or priced works schedule is supplied.

• The rental evidence is an advertised asking rent for a different road and is not an achieved rent or subject-property valuation.

• Leasehold service charges, ground rent and other lease terms are not provided.

• Legal-pack disbursements, seller-cost reimbursement, search fees, legal fees and transfer fees may be payable but are unquantified.

• The comparable sales may not be directly comparable because size, condition, floor level and specification are not supplied.

• The property is vacant, so there is no passing rental income.

Recommendation

Investigate as a potential refurbishment-led purchase or BRRR project, subject to confirming the legal pack, lease terms, service charges, property condition and a contractor-priced scope of works. Do not set a maximum bid without those costs.

Strategy Rating

Analysis Confidence

Strong local completed-sale evidence and a stated guide price are available, but the subject property's floor area, condition detail, leasehold costs, rental evidence, refurbishment budget and selling/finance costs are missing.