4A Crouch Drive, Witham, Essex, CM8 1TD

Description

A one bedroom first floor flat. The property forms part of a two storey building and benefits from private access. In need of modernisation. Vacant.

Accommodation

Ground Floor - Entrance Hallway. First Floor - Reception Room, Kitchen, Bedroom, Bathroom/WC.

Location

Witham is a town in the county of Essex. Located on Crouch Drive, accessed off Tamar Avenue. Witham town centre amenities are approximately 0.9 miles. Recreational amenities of Witham Town Park and Whetmead Nature Reserve are all easily accessible. Transport Witham - greateranglia.

Tenure / Property Information

Investment Analysis

The most recent supplied sale is £140,000 for 1 Crouch Drive in November 2025. Other same-street leasehold flat sales range from £137,500 in 2019 to £180,000 in 2022, but these are not the subject flat and are older evidence. A base GDV of £140,000 is therefore used as an indicative proxy only, before allowing for the subject's stated need for modernisation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease, special conditions, service charge and ground rent, inspecting the flat and obtaining a detailed refurbishment quotation. Do not rely on the apparent GDV spread until all costs are known.

Works Required

Modernisation of the flat is indicated, but the evidence does not specify the condition or scope. Obtain a full inspection and contractor quotations before pricing works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £85,000 guide, 75% of the indicative £140,000 base GDV is £105,000. However, total project cost cannot be calculated because refurbishment costs, buyer premium and other possible charges are unknown. Lease term remaining is approximately 91 years from the stated commencement date, subject to verification.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, service charge, ground rent or buyer fee is supplied. The guide is £85,000, before any unknown buyer premium and refurbishment costs.

Flip Analysis

The indicative base GDV is £140,000 against the £85,000 guide, but a flip surplus cannot be calculated. Works, buyer premium, selling costs, finance costs and any seller charges are unknown, and the comparable evidence is not for the subject flat.

Investor Risks & Due Diligence

• The flat is stated to need modernisation, but the works scope and cost are unknown.

• The buyer premium is not supplied and may materially increase the acquisition cost.

• Seller's special conditions may contain additional charges or VAT provisions that are currently unknown.

• No rental evidence is available, so rental yield and BTL affordability cannot be assessed.

• Leasehold service charge, ground rent and lease restrictions are not supplied.

• The valuation evidence comprises different flats and includes older transactions, so GDV is uncertain.

Recommendation

Proceed only after reviewing the lease, special conditions, service charge and ground rent, inspecting the flat and obtaining a detailed refurbishment quotation. Do not rely on the apparent GDV spread until all costs are known.

Strategy Rating

Analysis Confidence

There is some same-street completed-sale evidence and a stated guide price, but the comparables are not the subject flat and key inputs including rent, works, fees, service charges, ground rent and property condition are missing.