6A St. Edwards Way, Romford, Essex, RM1 4DD

Description

A Vacant First Floor Two Bedroom Flat in Need of Modernisation. The property comprises a first floor two bedroom flat situated within a semi detached building arranged over ground and first floors.

Accommodation

First Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Cottons Park are within easy reach. Transport links are provided by Romford underground station (Elizabeth line) and rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of the same address at £162,500 on 24 July 2026. Other leasehold flat sales on St Edwards Way range from £245,000 to £279,000, but no size, condition, lease or specification details are supplied, so they are less directly comparable. A cautious base GDV of £162,500 is adopted, with £250,000 as an unsupported-by-detail upper scenario based on the wider local comparables. The approximately 49 years unexpired lease is a material valuation and resale risk.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming lease terms and all disbursements, and obtaining a detailed modernisation quote. The guide appears potentially attractive against the same-address sale, but the short lease and unknown project costs make a firm bid impossible from the supplied evidence.

Works Required

Modernisation of the vacant two-bedroom flat, including the reception room, kitchen, two bedrooms and bathroom. The evidence does not specify particular defects or provide a works budget, so the scope and cost cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 guide, the stated £1,800 administration charge is known, but refurbishment costs, disbursements and other purchase costs are unknown. A 75% refinance against the £162,500 base GDV would be £121,875, but cash left in cannot be established without the full project cost. The short remaining lease creates significant refinance and resale uncertainty.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,650 pcm for two-bedroom RM1 flats, implying £19,800 annual gross rent and an indicative 18.0% gross yield against the £110,000 guide. A yield on total project cost cannot be calculated because refurbishment costs, disbursements and other acquisition costs are not supplied. The approximately 49-year lease may restrict lender and tenant demand.

Flip Analysis

The same-address completed sale provides a £162,500 base resale indicator. A wider £250,000 upper scenario is based on other leasehold flat sales on St Edwards Way, but their size, condition and lease details are not supplied. No reliable flip surplus can be calculated because refurbishment, acquisition, disbursement, finance and selling costs are unavailable.

Investor Risks & Due Diligence

• Approximately 49 years remain on the lease, creating valuation, lending and resale risk.

• The property is described as needing modernisation, but no condition survey or quantified works budget is supplied.

• The £1,650 pcm rental figures are advertised asking rents, not achieved rents.

• Buyer disbursements and other completion costs may be payable but are not quantified.

• The wider sold comparables lack size, condition and lease-detail information and may not be directly comparable.

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

Recommendation

Proceed only after reviewing the legal pack, confirming lease terms and all disbursements, and obtaining a detailed modernisation quote. The guide appears potentially attractive against the same-address sale, but the short lease and unknown project costs make a firm bid impossible from the supplied evidence.

Strategy Rating

Analysis Confidence

There is strong direct sold-price evidence and a stated guide, but no measured floor area, EPC, service charge, ground rent, lease particulars beyond the term, refurbishment budget, finance costs, selling costs or confirmed achieved rent.