45 Rainham Road, Gillingham

Description

A Terrace House requiring modernisation with accommodation arranged on Two Floors.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three). Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen, Bathroom/WC. Garden at Rear.

Location

Situated on Rainham Road, close to the amenities available in Gillingham Town Centre and travelling facilities including Gillingham Train Station. Gillingham Park is also nearby.

Tenure / Property Information

Investment Analysis

Evidence supports a base GDV estimate of £160,000, anchored by the same-road sale at £160,000 in February 2025. The £158,000 and £184,000 sales provide a reasonable evidence range; the £235,000 sale is older and is not relied upon as the base. No floor area, condition detail beyond modernisation, or direct like-for-like post-refurbishment evidence is supplied, so this is an indicative estimate only.

Investment Snapshot

Strategy Recommendation

Proceed only as a conditional refurbishment acquisition after obtaining a full inspection, detailed works quotation and reviewing the special conditions. The guide-to-GDV spread and indicative rent are attractive, but the missing works and project costs prevent a dependable bid limit.

Works Required

Modernisation of the vacant three-bedroom terrace house, subject to inspection. The evidence specifically identifies a need for modernisation but does not itemise required works or provide a refurbishment budget; avoid assuming structural, services, kitchen, bathroom or external works without survey evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £90,000 guide, a £1,500 buyer premium is payable. A 75% refinance against the £160,000 base GDV would be £120,000. However, refurbishment costs, finance costs, taxes and any seller-charged completion fees are unknown, so total project cost and cash left in cannot be calculated reliably. The refinance outcome is therefore highly sensitive to the achieved GDV and actual modernisation budget.

Buy-to-Let Analysis

Advertised asking rents support a range of £1,300–£1,500 pcm, equivalent to £15,600–£18,000 annually. Against the £90,000 guide, the indicative gross yield is approximately 17.33%–20.00%, or 18.67% using the midpoint rent. This is not a net yield and excludes refurbishment, finance, management, maintenance, voids, taxes and purchase costs. The rents are advertised rather than achieved, and there is no passing rent because the property is vacant.

Flip Analysis

A base resale/GDV estimate of £160,000 is supported by the £160,000 same-road sale in 2025, with an evidence range of £158,000–£184,000. A flip surplus cannot be calculated because refurbishment costs, finance costs, selling costs and any applicable seller fees are not supplied. The property is described as requiring modernisation, so the apparent guide-to-GDV margin should not be treated as profit.

Investor Risks & Due Diligence

• Property is vacant and expressly requires modernisation, but the extent and cost of works are unknown.

• The £1,300–£1,500 pcm figures are advertised asking rents, not achieved rents.

• GDV is based on limited sold evidence and may not reflect the property's condition, size or post-works specification.

• EPC is rated G, with no supplied information on the works needed to improve it.

• The seller may charge additional completion fees under the special conditions, which have not been provided.

• Buyer premium of £1,500 inclusive of VAT applies, with a 10% deposit requirement subject to the stated £5,000 minimum.

Recommendation

Proceed only as a conditional refurbishment acquisition after obtaining a full inspection, detailed works quotation and reviewing the special conditions. The guide-to-GDV spread and indicative rent are attractive, but the missing works and project costs prevent a dependable bid limit.

Strategy Rating

Analysis Confidence

There is useful same-road sold-price evidence, advertised rental evidence, a stated guide and known buyer premium. Confidence is reduced by the absence of a refurbishment budget, floor area, detailed condition, finance costs, selling costs, parking/heating information and special-condition fees.