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6 Cranleigh Close, Penge, London
Marketed by:
Auction House London
1a, 5 Hampstead Gate, London NW3 6AL, UK
020 7625 9007
Vacant 3-Bed Leasehold Flat in Penge
6 Cranleigh Close, Penge, London
For Sale
£90,000+
• 3 Bedrooms
• Flat
• Leasehold
• Vacant
Description
A Vacant First Floor Three Bedroom Flat in Need of Modernisation. The property comprises a first floor three bedroom flat situated within a semi detached building arranged over ground and first floors.
Accommodation
First Floor: Reception Room, Kitchen, Three Bedrooms, Bathroom.
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of South Norwood Lake & Grounds are within easy reach. Transport links are provided by Anerley overground station and rail station.
Tenure / Property Information
Tenure |
Leasehold |
Lease |
The property is held on a 99 year lease from 25th December 1955, with approximately 28 years unexpired. |
Occupancy |
Vacant |
Services |
Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services. |
Investment Analysis
Same-close sold comparables range from £300,000 to £380,000, but their lease terms and condition are unknown. The subject has only approximately 28 years remaining and requires modernisation, so a reliable GDV cannot be established without lease and condition evidence.
Investment Snapshot
Guide Price |
£90,000+ (plus fees) |
Estimated Monthly Rent |
£2,750 pcm |
Estimated Annual Rent |
£33,000 pa |
Gross Yield on Guide |
36.7% |
Strategy Recommendation
Do not bid on the current evidence alone. Obtain legal-pack details, confirm all disbursements, assess the short lease and obtain a refurbishment inspection before considering BTL, BRRR or a flip.
Works Required
Modernisation of the flat, with the precise scope and cost requiring inspection. No specific defects or installations are evidenced.
Rental & Market Context
HB Estimated Market Rent |
£2,750 pcm |
|
Houses to rent in SE20 | OnTheMarket — 3 bed — — Advertised asking rent |
£2,750 pcm |
Sold Comparables
The following completed sales were identified within approximately 5 miles:
|
7, Cranleigh Close, London, Bromley, Se20 8tw |
£380,000 |
|
10, Cranleigh Close, London, Bromley, Se20 8tw |
£300,000 |
|
11, Cranleigh Close, London, Bromley, Se20 8tw |
£350,000 |
|
12, Cranleigh Close, London, Bromley, Se20 8tw |
£310,000 |
|
15, Cranleigh Close, London, Bromley, Se20 8tw |
£300,000 |
Potential BRRR Position
A BRRR strategy cannot be reliably assessed because GDV, refurbishment cost, lease-extension cost and refinanceability are unsupported. The approximately 28-year lease is a major constraint and must be reviewed before bidding.
Buy-to-Let Analysis
The only rental evidence is an advertised £2,750 pcm SE20 asking rent, not an achieved rent and not confirmed for this flat. Against the £90,000 guide, this indicates 36.67% gross yield before works, fees, lease issues and other costs. A dependable BTL assessment is not possible without validated rent and lease-extension analysis.
Flip Analysis
The same-close comparables provide a £300,000–£380,000 reference range, but unknown lease lengths and condition prevent a reliable resale GDV or flip surplus calculation. Modernisation costs, selling costs and lease-extension implications are also unknown.
Investor Risks & Due Diligence
• Approximately 28 years remain on the lease.
• Lease-extension cost and mortgageability are unknown.
• The refurbishment scope and cost are unknown.
• The rental figure is an advertised asking rent, not achieved rent or a confirmed flat-specific valuation.
• Comparable lease lengths and condition are unknown.
• An £1,800 inc VAT administration charge applies, with possible additional disbursements.
Recommendation
Do not bid on the current evidence alone. Obtain legal-pack details, confirm all disbursements, assess the short lease and obtain a refurbishment inspection before considering BTL, BRRR or a flip.
Strategy Rating
HB Rating |
★★☆☆☆ |
Analysis Confidence
Confidence |
Low-Medium |
There are relevant same-close sales and one rental asking figure, but lease terms, condition, refurbishment costs, legal disbursements and achieved rent are not evidenced.
Auction Details :
Auction House London
Auction Date :
11/11/26
Lot Number :
014
Property Location:
6 Cranleigh Close, Penge, London
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