51 Mansfield Road, Ilford, Essex

Description

Investment - Freehold Part Reversionary Ground Rent. Secured upon four self-contained flats. The lessees have NOT elected to take up their rights of pre-emption.

Accommodation

Four self-contained flats

Location

Situated on the west side of Mansfield 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 freehold reversionary ground-rent investment, not an ordinary freehold house or development opportunity. The supplied comparable sales are residential freehold transactions and are not directly comparable because they do not evidence the value of the ground-rent income or the reversionary interest. No passing ground rent, review terms, lease premiums, flat sizes or detailed lease information are supplied. The stated guide is £30,000+, but a supported market value or GDV cannot be established from the evidence.

Investment Snapshot

Strategy Recommendation

Treat as a specialist freehold ground-rent acquisition only if the legal pack confirms the passing income, lease covenants, rent reviews, reversion terms and all acquisition costs. Do not rely on the supplied residential comparables or general rental listing to justify a bid.

Works Required

No refurbishment works are evidenced. The investment requires legal and title review of the four flat leases, ground-rent provisions, reversion terms and pre-emption position rather than physical works based on the supplied description.

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 evidenced refurbishment opportunity, no supported rental income for the freehold interest, no GDV for the reversionary asset and no basis for calculating refinance proceeds.

Buy-to-Let Analysis

A BTL yield cannot be established. The property is not described as vacant or available for letting; it is an investment secured upon four flats. The only rental evidence is a general Ilford asking rent of £1,900 pcm and is not stated to relate to any of the four flats or to the freehold interest. No passing ground rent is supplied.

Flip Analysis

A conventional flip analysis is not applicable on the supplied evidence. The asset is a reversionary ground-rent investment, while the sold comparables are residential freehold sales. No supported resale value or selling-cost allowance is available.

Investor Risks & Due Diligence

• No passing ground-rent amount or payment history is supplied.

• Three flats have approximately 54 years remaining on their leases, which may affect value and future lease-extension considerations.

• The term of the fourth long lease is not specified.

• Reversions are stated to be from 2081, but the precise reversionary rights and timing require legal confirmation.

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

• The supplied sold comparables are residential freehold sales and may not represent the value of this reversionary ground-rent interest.

• The general £1,900 pcm Ilford asking rent is not linked to any of the four flats or to income payable to this freehold interest.

Recommendation

Treat as a specialist freehold ground-rent acquisition only if the legal pack confirms the passing income, lease covenants, rent reviews, reversion terms and all acquisition costs. Do not rely on the supplied residential comparables or general rental listing to justify a bid.

Strategy Rating

Analysis Confidence

The guide price and broad lease structure are supplied, but the passing ground rent, lease details, flat information, fees, EPC and other valuation inputs are absent. The available comparables and rental listing are not directly applicable.