46 Frensham Drive, New Addington, Croydon

Description

A two bedroom split-level flat forming part of a purpose-built block. The flat is presented in reasonable decorative order. Vacant possession. Conveniently located for the amenities of New Addington and Croydon.

Accommodation

Second Floor: Reception Room, Kitchen. Third Floor: Two Bedrooms, Bathroom/WC.

Location

Located near to the junction of Frensham Drive and Lomas Close. Shopping facilities can be found nearby in New Addington and to a further extent in the centre of Croydon. Recreational amenities of Addington Vale and Croham Hurst Woods are easily accessible. Transport: National Rail - Sanderstead, West Wickham.

Tenure / Property Information

Investment Analysis

The supplied evidence shows same-road leasehold flat sales at £215,000 and £224,000 in 2018, and £240,000 in 2021. These are useful location-specific indicators, but bedroom count, size, condition, lease terms and transaction circumstances are not supplied, and there is no current comparable evidence. An indicative scenario range of £215,000–£240,000 is therefore used, with £225,000 as a cautious base estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after viewing and obtaining the leasehold information, service-charge and ground-rent details, and a realistic rent and works budget. On the supplied evidence, this is better treated as a potential owner-occupier or value-led purchase than an underwritten BTL or flip.

Works Required

The property is described as being in reasonable decorative order. Allow only for inspection and any minor redecoration or refresh identified after viewing; no specific defects or quantified works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV estimate, 75% refinance is approximately £168,750. A complete BRRR assessment cannot be calculated because refurbishment, buyer costs, ongoing leasehold costs and rent are unsupported. At the £135,000 guide, the indicative gross purchase-to-base-GDV gap before all costs is £90,000, but this is not available equity or profit.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, service charge, ground rent, mortgage costs or refurbishment budget is supplied. The flat is vacant, but achievable rent and net yield remain unknown.

Flip Analysis

The supplied evidence supports an indicative base GDV of £225,000, with a £215,000–£240,000 historical comparable range. Flip profitability cannot be quantified because works, buyer costs, finance costs and selling costs are not supplied. The 2021 £240,000 comparable should not be treated as a current valuation.

Investor Risks & Due Diligence

• Historical comparables may not reflect current market value or this flat's size, layout and condition.

• No sufficiently specific rental evidence or auctioneer rent estimate is available, so rental yield cannot be established.

• No buyer premium, administration charge or other auction costs are supplied.

• No service charge, ground rent, reserve-fund or management information is supplied for the leasehold flat.

• EPC, council tax, parking and heating information are not supplied.

• The property is described as being in reasonable decorative order, but no inspection evidence or detailed condition schedule is provided.

• The approximately 102-year lease term is stated, but other lease terms and restrictions are not supplied.

Recommendation

Proceed only after viewing and obtaining the leasehold information, service-charge and ground-rent details, and a realistic rent and works budget. On the supplied evidence, this is better treated as a potential owner-occupier or value-led purchase than an underwritten BTL or flip.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and clear tenure/occupancy details, but the comparables are historic and lack size, bedroom and condition data. Rental, works, leasehold-cost and auction-fee evidence is largely absent.