41 Scovell Crescent, London, SE1 1PS

Description

Freehold two floor end terrace house requiring updating. Transport Zones 1 & 2. Full vacant possession.

Accommodation

Approx. 80m² / 858 sq ft. First floor: two bedrooms, bathroom, WC. Ground floor: entrance hall, reception room, kitchen and dining room, store room. Outside: rear gardens.

Location

Situated on Scovell Crescent, well positioned for the amenities of vibrant Borough, Borough Market, London Bridge, Southwark and the Southbank. Transport options include local bus routes, rail connections via Borough, Elephant and Castle, Southwark and London Bridge in Zones 1 and 2, or road links via the A2, A3 and A201.

Tenure / Property Information

Investment Analysis

The latest supplied completed sale on the same crescent was £737,000 in October 2022. Earlier same-street sales range from £395,000 to £630,000, but dates, floor areas and condition are not supplied. An indicative base GDV of £737,000 is therefore used cautiously, with £625,000 as a lower evidence point. This is not a formal valuation and does not adjust for the subject property's updating requirement or EPC F rating.

Investment Snapshot

Strategy Recommendation

Proceed only after inspecting the property, obtaining a detailed works budget, confirming special-condition fees and establishing a supported rental or resale valuation. Do not rely on the guide price alone as evidence of viability.

Works Required

General updating is required, as stated by the auctioneer. The evidence does not specify the condition or scope of works, so no reliable refurbishment allowance can be calculated. EPC improvement may require consideration, but the required measures are not supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative base GDV of £737,000, 75% refinancing equates to £552,750. Total project cost cannot be calculated because the refurbishment cost and any applicable seller fees are unknown. Cash left in and equity cannot therefore be reliably assessed.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, and any rent, operating costs and resulting yield require verification.

Flip Analysis

A flip appraisal cannot be completed reliably. The indicative GDV is £737,000, but refurbishment costs, resale costs and potentially applicable seller fees are not supplied. The latest same-street completed sale provides a useful market reference but not a confirmed resale value for this property.

Investor Risks & Due Diligence

• The property is described as requiring updating, but the extent and cost of works are unknown.

• EPC rating is F; required improvement works and costs are not supplied.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Comparable sales are from different dates and their floor areas and condition are not provided.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating details require confirmation from the auction centre.

Recommendation

Proceed only after inspecting the property, obtaining a detailed works budget, confirming special-condition fees and establishing a supported rental or resale valuation. Do not rely on the guide price alone as evidence of viability.

Strategy Rating

Analysis Confidence

The evidence includes a same-street latest sale, tenure, size, occupancy and guide price, but lacks comparable sizes and condition, a rental valuation, refurbishment scope/cost, parking and heating information, and any seller fees under the special conditions.