40 South Lane, New Malden, Surrey

Description

Freehold two floor detached house for refurbishment. Full vacant possession.

Accommodation

First floor: Three bedrooms, bathroom/WC. Ground floor: Reception room open to dining/study area, kitchen. Outside: Front and rear gardens.

Location

The property is located on the East side of South Lane close to its junction with Grayham Road. Public transport links include New Malden and Berrylands Train Stations with road communications being provided by the A3. A comprehensive range of shops, cafes and restaurants are available in New Malden with recreational pursuits to include Green Lane Recreation Ground and Berrylands Park.

Tenure / Property Information

Investment Analysis

The only identified same-property Land Registry evidence is £316,400 in March 2007, with earlier sales of £179,950 in 2001 and £89,000 in 1995. These historic transactions do not support a current GDV or current market value. The £380,000 guide is an auction guide, not a valuation. No current comparable sales, refurbishment budget, rental evidence or auctioneer rent estimate is supplied.

Investment Snapshot

Strategy Recommendation

Do not set a bid or pursue a strategy until current comparable evidence, a detailed refurbishment survey, rental assessment and the Special Conditions of Sale have been reviewed. The property may suit refurbishment-led resale or letting, but neither case is currently underwritten.

Works Required

Refurbishment is required according to the description, but the evidence does not specify the scope or condition of works. Obtain a full inspection and contractor quotations before bidding. EPC, heating and parking information also require confirmation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified. Current GDV, refurbishment cost, achievable rent and finance-related project costs are unsupported. The £1,800 inclusive-of-VAT contract documentation fee is known, while the seller may charge additional completion fees under the Special Conditions of Sale.

Buy-to-Let Analysis

BTL economics cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Refurbishment costs and other potentially applicable completion charges are also unknown. The property is vacant, so no passing rent is evidenced.

Flip Analysis

A flip surplus cannot be calculated because there is no current GDV, supported refurbishment allowance or supported selling-cost allowance. The 2007 same-property sale is historic and should not be treated as a current resale value.

Investor Risks & Due Diligence

• No current market-value or GDV evidence is supplied.

• The refurbishment scope and cost are unknown.

• No sufficiently specific rental evidence or passing rent is available.

• Additional seller fees may be payable under the Special Conditions of Sale.

• EPC, heating and parking information require confirmation.

• Historic sale prices are not reliable evidence of current value.

Recommendation

Do not set a bid or pursue a strategy until current comparable evidence, a detailed refurbishment survey, rental assessment and the Special Conditions of Sale have been reviewed. The property may suit refurbishment-led resale or letting, but neither case is currently underwritten.

Strategy Rating

Analysis Confidence

Evidence confirms the freehold tenure, vacancy, accommodation and guide price, but lacks current valuation comparables, works costs, rental evidence, EPC, heating and confirmed parking information.