51a, Perrymans Farm Road, ILFORD, Essex

Description

Leasehold first floor three-bedroom maisonette. Full vacant possession.

Accommodation

Three bedrooms, reception room, kitchen, bathroom/WC. Outside: private rear garden.

Location

The property is situated on Perrymans Farm Road and to the north of the A12. Transport links include local bus routes and Newbury Park Rail Station. Shopping amenities, cafes, bars and restaurants can be found within Newbury Park and Ilford, with recreational pursuits available at Seven Kings Park, Valentines Park or Fairlop Waters Golf Club and Country Park.

Tenure / Property Information

Investment Analysis

The evidence supports a broad indicative GDV range of £227,500–£310,000, based on nearby leasehold maisonette sales at 47A, 51 and 57A Perrymans Farm Road. The closest and most recent relevant evidence is 51 Perrymans Farm Road at £280,000 on 27 May 2025, although the evidence does not establish that it is identical to 51a in size, condition, specification or lease terms. A base GDV of £280,000 is therefore used cautiously. The £125,000 guide represents a substantial apparent discount, but condition, service charge, ground rent, parking, heating and special-condition fees remain unverified.

Investment Snapshot

Strategy Recommendation

Potential value-led flip or BRRR candidate, subject to inspection, legal review, lease-cost verification and confirmation that the maisonette can achieve the comparable evidence. Do not bid on the guide alone because rent, works and recurring leasehold costs are unsupported.

Works Required

No specific repair or refurbishment works are evidenced. Obtain a full inspection and verify the EPC E implications, heating, parking, service charge, ground rent, communal responsibilities and any lease or title restrictions before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £280,000 base GDV, 75% refinance is £210,000. However, total acquisition and project cost cannot be calculated because refurbishment requirements, service charge, ground rent and any seller or special-condition fees are unknown. The apparent guide-to-GDV margin is attractive, but refinance feasibility and cash left in remain unconfirmed.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross rent and yield cannot therefore be established. The lease is stated to have 123 years remaining, but service charge and ground rent are unknown and may materially affect net returns.

Flip Analysis

The evidence indicates potential resale headroom between the £125,000 guide and a base GDV of £280,000, but a reliable flip surplus cannot be calculated without verified works, acquisition costs beyond the £1,800 administration charge, seller fees and selling costs. Comparable variation from £215,000 to £310,000 also creates valuation risk.

Investor Risks & Due Diligence

• The subject property's condition and required works are not evidenced.

• No sufficiently specific rental evidence is available, so BTL yield cannot be calculated.

• Annual service charge and ground rent are unknown, including review and increase terms.

• Seller fees may be payable under the special conditions but are not supplied.

• The comparable sales vary materially in price and are not confirmed as identical in size or specification.

• EPC rating E, heating and parking details require verification.

• Leasehold restrictions, management obligations and title matters require legal review despite the stated 123 years remaining.

Recommendation

Potential value-led flip or BRRR candidate, subject to inspection, legal review, lease-cost verification and confirmation that the maisonette can achieve the comparable evidence. Do not bid on the guide alone because rent, works and recurring leasehold costs are unsupported.

Strategy Rating

Analysis Confidence

There are several relevant local completed-sale comparables and a recent nearby sale, but no property size, condition, rental evidence, service-charge or ground-rent information, and the comparable addresses are not confirmed as identical in specification to 51a.