3a, West Street, ERITH, Kent, DA8 1AE

Description

Long leasehold first floor self-contained flat requiring updating. By order of a major housing association.

Accommodation

Entrance hall, one bedroom, reception room, kitchen, bathroom/WC

Location

Situated on West Street, a short distance away from the River Thames, riverside Gardens and Erith town centre. Transport options include local bus routes, Erith rail station and road options including the M25, A2 and A13.

Tenure / Property Information

Investment Analysis

The most relevant evidence is the £150,000 sale at 4 West Street on 5 June 2026 and two £150,000 sales at Wharf House, 1 West Street, although the comparable properties' sizes, condition, leases and service charges are not supplied. Higher sales at Wharf House range from £253,300 to £275,000 but are not sufficiently comparable on the available evidence. A provisional base GDV of £150,000 is therefore used, with low and high scenarios unsupported.

Investment Snapshot

Strategy Recommendation

Do not commit beyond a carefully risk-adjusted bid until the new lease, service charge, ground rent, parking, heating, condition and any seller fees are confirmed. The evidence currently supports investigation rather than a confirmed BTL, BRRR or flip strategy.

Works Required

Updating is required, but the evidence does not specify the extent of works. Obtain a full inspection and lease information before budgeting for internal finishes, kitchen, bathroom, services or other items.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £150,000 base GDV, 75% refinance would be £112,500. Total project cost cannot be calculated because refurbishment costs, service charges and potentially applicable seller fees are unknown. BRRR viability therefore remains unconfirmed.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Service charge, lease details and any seller completion fees are also unknown.

Flip Analysis

A provisional £150,000 GDV is indicated by the most recent same-street evidence, but the comparable specifications are not supplied. Flip surplus cannot be calculated without supported refurbishment and selling-cost allowances.

Investor Risks & Due Diligence

• Lease information is awaited, including term, service charge, ground rent and review details.

• The flat requires updating, but the extent and cost of works are unknown.

• No sufficiently specific rental comparable or auctioneer rent estimate is supplied.

• Parking and heating information is unavailable.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Available sold comparables show a wide price range and lack size, condition and lease details.

• The auction guide is not a guaranteed purchase price.

Recommendation

Do not commit beyond a carefully risk-adjusted bid until the new lease, service charge, ground rent, parking, heating, condition and any seller fees are confirmed. The evidence currently supports investigation rather than a confirmed BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

There is recent same-street sold evidence and a stated guide price, but no rent, refurbishment cost, lease-cost, property-specification or selling-cost evidence sufficient for full underwriting.