45 Woodside Road, South Norwood, London SE25 5DP

Description

A vacant three-bedroom end-of-terrace house requiring a programme of refurbishment. The ground floor comprises two reception rooms and a kitchen, with three bedrooms and a bathroom on the first floor. Externally there is a rear garden. The property is freehold, has EPC rating D and is offered with a six-week completion option.

Location

Woodside Road is in South Norwood, close to local shops, schools, parks and tram/rail connections across Croydon and south London. The area has an established family housing and rental market.

Investment Analysis

Investment Snapshot

Guide Price	£290,000
Configuration	3-bed end-of-terrace house
Refurbishment Budget	£35,000–£55,000
Purchase + Works	£325,000–£345,000
Estimated GDV	£450,000–£500,000
Estimated Private Rent	£2,000–£2,300 pcm
Potential Annual Rent	£24,000–£27,600
Gross Yield on Purchase	8.3%–9.5%
Gross Yield on Mid Project Cost	7.7%
Suggested Strategy	Refurbishment & Resale / BRRR

Property & Refurbishment

The auctioneer explicitly states that refurbishment is required. I would initially allow £35,000–£55,000 for kitchen, bathroom, decoration, flooring, services, joinery, garden works and contingency. As an end-terrace house, external fabric and flank-wall condition should also be inspected carefully.

Rental Analysis

Direct same-street achieved rents were not independently verified in this pass. For sensitivity testing I would use an HB estimate of £2,000–£2,300 pcm for a refurbished three-bedroom South Norwood house. That gives £24,000–£27,600 pa and 8.3%–9.5% gross on guide. At the £335,000 midpoint project cost, £2,150 pcm produces approximately 7.7% gross.

GDV / Resale Analysis

Same-street sale evidence is strong: 71 Woodside Road sold for £500,000 in August 2025 and 39 Woodside Road sold for £465,000 in October 2022. Two-bedroom transactions on the street have also achieved £377,000–£440,000. I would therefore use an indicative £450,000–£500,000 completed-value range for the subject, subject to floor area and finish.

Properties Sold Within Approx. 5 Miles

Address	Property Type	Sold Price	Sold Date
71 Woodside Road, South Norwood SE25 5DP	3-bed terraced	£500,000	Aug 2025
39 Woodside Road, South Norwood SE25 5DP	3-bed terraced	£465,000	Oct 2022
85A Woodside Road, South Norwood SE25	2-bed terraced	£377,000	Jun 2025
77A Woodside Road, South Norwood SE25	2-bed terraced	£440,000	May 2024
41 Woodside Road, South Norwood SE25	4-bed semi-detached	£530,000	Jul 2020

The £500,000 sale at number 71 is the strongest recent three-bedroom evidence, while number 39 provides another same-street benchmark. These transactions support the estimated GDV but should be adjusted for condition, floor area and exact house style.

Potential BRRR Position

At a £475,000 midpoint GDV, an illustrative 75% refinance would be £356,250 versus a £335,000 midpoint guide-plus-works cost. That provides some capital-recycling potential before acquisition costs, but the margin is narrower than the headline GDV uplift suggests.

Flip Analysis

This is a credible refurbishment flip because a recent three-bedroom same-street sale achieved £500,000. At midpoint assumptions the gross difference between £335,000 project cost and £475,000 GDV is £140,000 before SDLT, auction/legal fees, finance, holding, contingency and resale costs. A conservative £450,000 exit should also be modelled.

Investor Risks & Due Diligence

• Obtain full survey and contractor quotations before fixing the refurbishment budget.




• Verify current achieved three-bedroom rents in South Norwood.




• Compare floor area and condition with 71 and 39 Woodside Road.




• Review the legal pack and six-week completion requirements carefully.

Recommendation

Preferred strategy: Refurbishment & Resale / BRRR. The guide appears attractive relative to recent same-street three-bedroom sales, and the required refurbishment creates scope to manufacture value. The deal remains dependent on controlling works and avoiding overbidding.

Strategy Rating

BRRR: ★★★★☆

Buy-to-Let: ★★★★☆

Flip: ★★★★★

Development: ★★☆☆☆