42 Orange Grove, Leytonstone, London

Description

Vacant self-contained ground floor flat with a reception room through to kitchen, bedroom, bathroom and rear garden. GIA approximately 68.46 sq m (737 sq ft). The vendor will not accept offers prior to auction.

Accommodation

Reception room through to kitchen, bedroom, bathroom and rear garden; GIA approximately 68.46 sq m (737 sq ft)

Location

Located on the north east side of Orange Grove. The shops and amenities of Leytonstone are to the north east. Leyton underground station (Central line) is approximately 0.6 miles to the west. The A12 is to the north west and Wanstead Flats are to the east.

Tenure / Property Information

Investment Analysis

The only supplied completed sale is 20 Orange Grove at £231,000 in December 2021. It is a leasehold flat/maisonette on the same road, but its size, bedroom count, condition and other comparability details are not provided, and no current comparable evidence is supplied. A reliable current GDV or bid ceiling cannot therefore be established. The property is vacant, has a stated 990-year lease from completion at a peppercorn ground rent, and includes a rear garden, but buyer/admin fees and other charges are unspecified.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain current comparable sales, a rental assessment, full auction and legal cost information, and inspect the flat before setting a maximum bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, legal review and only those repairs, maintenance or cosmetic works identified before bidding; no reliable works allowance can be calculated from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported current GDV, rent, refurbishment budget and known purchase costs. The stated long lease and peppercorn ground rent are potentially helpful, but the lease and all associated charges require legal and financial review.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross rent, yield and cash-flow calculations are therefore unavailable. The vacant possession status may assist letting, subject to confirming condition, legal terms and costs.

Flip Analysis

A flip surplus cannot be calculated. The £231,000 2021 same-road sale is not sufficiently detailed or current to support a base resale value, and no works, selling costs or current comparables are supplied.

Investor Risks & Due Diligence

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

• The only comparable is a December 2021 sale with no size, bedroom or condition details.

• Property condition and any required works are not evidenced.

• Buyer premium, admin charge and possible seller or third-party charges are unspecified.

• Lease wording, service-charge information and other lease costs are not supplied and require legal review.

• The £80,000+ auction guide cannot be treated as market value or a supported maximum bid.

Recommendation

Do not bid on the current evidence alone. Obtain current comparable sales, a rental assessment, full auction and legal cost information, and inspect the flat before setting a maximum bid.

Strategy Rating

Analysis Confidence

Evidence includes one older, insufficiently detailed comparable and basic property particulars, but lacks current valuation evidence, rent, condition, refurbishment costs, buyer/admin fees, service-charge information and other charges.