62 Crowther Road, South Norwood, London

Description

A Three Bedroom Semi Detached House in need of Refurbishment and Structural Repair. The property comprises a three bedroom semi detached house arranged over ground and two upper floors.

Accommodation

Ground Floor: Reception Room; Kitchen/Diner. First Floor: Three Bedrooms; Bathroom; Separate WC. Second Floor: Loft Room. Exterior: The property benefits from a rear garden.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of South Norwood Recreation Ground are within easy reach. Transport links are provided by Norwood Junction overground station and rail station.

Tenure / Property Information

Investment Analysis

The only directly relevant completed sale is 74 Crowther Road at £590,000 on 16 May 2019. It is a same-road freehold semi-detached comparable, but its specification, condition and current-market relevance are unconfirmed. No current comparable evidence, guide price, floor area or formal valuation is supplied, so GDV cannot be reliably estimated.

Investment Snapshot

Strategy Recommendation

Do not bid or commit to a strategy until the legal pack, structural issue, refurbishment scope, current valuation evidence and full buyer-cost schedule have been reviewed. Subject to satisfactory due diligence, the property could be assessed for refurbishment-led resale or letting.

Works Required

Refurbishment and structural repair are expressly required. The evidence does not define the structural defect, affected areas, specifications or required consents, so no reliable scope or cost allowance can be produced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably. Purchase price, structural works cost, total project costs and a current refinance valuation are unavailable. The 2019 same-road sale at £590,000 is historical evidence only and should not be treated as a current GDV.

Buy-to-Let Analysis

Indicative asking rents for three-bedroom properties in SE25 are £2,200–£2,250 pcm, equivalent to £26,400–£27,000 annually. These are advertised asking rents rather than achieved rents. Yield cannot be established because no guide price or acquisition/refurbishment cost is supplied.

Flip Analysis

A flip surplus cannot be calculated because there is no guide price, refurbishment estimate, current GDV or supported selling-cost allowance. The property is expressly described as requiring structural repair, making pre-purchase structural and legal due diligence important.

Investor Risks & Due Diligence

• Structural repair is expressly required, but the defect, extent and cost are unknown.

• Refurbishment scope and costs cannot be estimated from the supplied description.

• No guide price is supplied, preventing bid, yield and project-cost calculations.

• Buyer premium may be payable, and additional search, seller, legal, transfer and other disbursement costs may arise under the auction terms.

• The only directly relevant completed sale is from 2019 and may not represent current market value.

• Rental figures are advertised asking rents and may not be achieved.

Recommendation

Do not bid or commit to a strategy until the legal pack, structural issue, refurbishment scope, current valuation evidence and full buyer-cost schedule have been reviewed. Subject to satisfactory due diligence, the property could be assessed for refurbishment-led resale or letting.

Strategy Rating

Analysis Confidence

Rental asking evidence and one historical same-road sale are available, but there is no guide price, current valuation evidence, floor area, structural diagnosis, refurbishment cost, occupancy information or complete purchase-cost schedule.