63 Armoury Road, Lewisham, London, SE8 4LB

Description

A Vacant Ground Floor One Bedroom Flat in Need of Refurbishment. The property comprises a ground floor one bedroom flat situated within a purpose built building arranged over ground and two upper floors. By Order of the Executors.

Accommodation

Ground Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Brookmill Park are within easy reach. Transport links are provided by St Johns rail station.

Tenure / Property Information

Investment Analysis

The five same-road Land Registry comparables range from £180,000 to £311,000, but bedroom count, floor area, condition and exact comparability are not supplied. A broad evidence-based scenario range is therefore used rather than a formal valuation: £180,000 low, £250,000 base and £311,000 high. The base GDV is highly uncertain because the subject is a one-bedroom flat requiring refurbishment and the comparable specifications are unknown.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after viewing the flat, reviewing the legal pack and confirming lease, service-charge, refurbishment and achievable-rent information. Subject to those checks, the vacant condition may suit a refurbishment-led BTL strategy.

Works Required

General refurbishment is indicated by the auction description, but no specific defects, condition schedule or scope of works is supplied. Obtain a viewing and legal pack review before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV scenario of £250,000, 75% refinancing would be approximately £187,500. However, refurbishment costs, acquisition costs beyond the stated £1,800 administration charge, finance costs and the completed property value remain insufficiently evidenced, so cash left in and BRRR viability cannot be established.

Buy-to-Let Analysis

Advertised rental evidence ranges from £650 to £1,500 pcm, but both figures are asking rents rather than achieved rents and the spread is substantial. At the £135,000 guide, the indicative gross yield range is approximately 5.78% to 13.33% before refurbishment, financing, service charges, management, voids, taxes and other costs. A reliable BTL assessment requires verified achievable rent and refurbishment costs.

Flip Analysis

The supplied completed sales indicate a broad same-road value range of £180,000 to £311,000. A flip appraisal cannot be completed because refurbishment costs, resale costs and a sufficiently comparable one-bedroom GDV are not supplied. The base scenario should not be treated as a formal valuation.

Investor Risks & Due Diligence

• The five sold comparables have no supplied bedroom count, floor area or condition details, making the GDV range uncertain.

• The property is described as needing refurbishment, but no works scope or cost evidence is provided.

• Rental evidence is limited to two widely divergent advertised asking rents and no achieved rent is supplied.

• The £1,800 administration charge is stated, but buyer premium and other possible legal-pack disbursements are not quantified.

• Leasehold service charges, ground rent, major works exposure and other lease terms are not supplied.

• Approximately 91 years remain on the lease; extension costs and requirements are not evidenced.

• The property is vacant, so there is no passing rent to verify.

Recommendation

Do not bid on the current evidence alone. Proceed only after viewing the flat, reviewing the legal pack and confirming lease, service-charge, refurbishment and achievable-rent information. Subject to those checks, the vacant condition may suit a refurbishment-led BTL strategy.

Strategy Rating

Analysis Confidence

Address, tenure, vacancy, lease term, guide price, administration charge, same-road completed sales and advertised rents are supplied, but comparable specifications, refurbishment scope, service charges, EPC, council tax, achievable rent and other purchase costs are missing.