49 Selborne Road, Ilford, Essex

Description

Investment - Freehold Part Reversionary Ground Rent. Secured upon three self-contained flats. The lessees have elected to take up their rights of pre-emption.

Accommodation

Three self-contained flats

Location

Situated on the west side of Selborne Road. The shops and amenities of Ilford are to the east. Ilford rail station is approximately 0.4 miles to the south east. The A406 (North Circular) is to the west. Valentines Park is to the north east. Ilford Medical Centre, King George Hospital and York Surgery are all within reach. The University of East London, The Ursuline Academy Ilford and Apex Primary School are in close proximity. Redbridge Central Library and Museum and Valence House Museum are close by.

Tenure / Property Information

Investment Analysis

This is a specialised freehold part-reversionary ground-rent interest rather than a conventional flat or house. The supplied sales comparables are different property types and appear to relate to whole freehold properties, so they do not support a valuation of this interest. The £10,000+ guide is only an auction guide and cannot establish market value. No ground-rent income, lease terms beyond the stated expiry information, purchaser costs or formal valuation are supplied.

Investment Snapshot

Strategy Recommendation

Treat as a specialist legal and ground-rent investment only. Do not bid on the guide price alone; first verify the ground-rent income, lease covenants, reversion terms, title and the lessees’ pre-emption process.

Works Required

No refurbishment works are evidenced or apparently applicable to the freehold ground-rent/reversionary interest. Review the leases, ground-rent provisions, tenant pre-emption documentation and title before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supported by the evidence. There is no refurbishment plan, supported GDV, passing income or refinance valuation. The approximately 53-year lease on one flat and the stated reversion from 2079 require specialist lease and valuation analysis.

Buy-to-Let Analysis

A conventional BTL analysis cannot be established. The asset is not described as a direct ownership interest in the three flats, and no passing ground rent or other income is supplied. The advertised flat rents of £1,325 and £2,000 pcm are not evidence of income payable to this freehold interest.

Flip Analysis

A flip surplus cannot be calculated. The supplied comparables are not sufficiently comparable to this specialised ground-rent/reversionary interest, and no supported resale value or selling-cost allowance is provided.

Investor Risks & Due Diligence

• One flat has approximately 53 years unexpired on its lease.

• The lessees have elected to exercise rights of pre-emption under the Landlord and Tenant Act 1987.

• No passing ground-rent income is supplied, preventing yield analysis.

• The reversion is stated to be from 2079, limiting the timing of any reversionary value.

• Buyer, administration and other potential seller or third-party charges are not quantified.

• The supplied sold comparables are not directly comparable to a part-reversionary ground-rent interest.

Recommendation

Treat as a specialist legal and ground-rent investment only. Do not bid on the guide price alone; first verify the ground-rent income, lease covenants, reversion terms, title and the lessees’ pre-emption process.

Strategy Rating

Analysis Confidence

The property structure is described, but key valuation inputs are absent, including ground rent, lease rents and covenants, formal valuation, purchaser costs and relevant specialist comparables. The stated pre-emption rights also materially affect acquisition certainty.