70 Ingleby Road, Ilford, Greater London

Description

Investment - Freehold Part Reversionary Ground Rent. Secured upon four self-contained flats. The lessees have not elected to take up their rights of pre-emption. Gross initial yield: 1%.

Accommodation

Four self-contained flats

Location

Situated on the north side of Ingleby Road. The shops and amenities of Ilford are to the south. Ilford rail station is approximately 0.5 miles to the south west. The A406 (North Circular) is to the west. Valentines Park is to the north. Ilford Medical Centre, King George Hospital and York Surgery are all within reach. The University of East London, The Ursuline Academy Ilford and Apex Primary School are in close proximity. Redbridge Central Library and Museum and Valence House Museum are close by.

Tenure / Property Information

Investment Analysis

The asset is a freehold part-reversionary ground rent investment secured upon four self-contained flats. The supplied comparable sales are terraced freehold property sales and are not sufficiently comparable to value this ground rent interest. No ground rent amount, passing income, lease rents, or formal valuation evidence is supplied. The stated gross initial yield is 1%, but it cannot be independently recalculated.

Investment Snapshot

Strategy Recommendation

Treat only as a specialist freehold ground rent and long-term reversionary investment. Do not rely on the supplied house comparables or proceed without verifying the ground rent income, leases, title and all additional charges.

Works Required

No physical refurbishment works are identified or supported by the evidence. This is an income and reversionary-title investment rather than a refurbishment project.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supported by the evidence. There is no refurbishment case, rental income evidence, or GDV for the underlying flats, and the interest is a freehold ground rent/reversionary investment. Refinance value and cash left in cannot therefore be calculated.

Buy-to-Let Analysis

A conventional BTL analysis cannot be completed because no flat rents or passing ground rent are provided. The description states a gross initial yield of 1%, but the income figure and calculation basis are not supplied. The asset is not presented as a direct ownership interest in the flats.

Flip Analysis

A flip analysis is not supported. The available comparables concern whole terraced freehold properties and do not establish a resale value for this part-reversionary ground rent interest. No selling-cost allowance or applicable GDV is supplied.

Investor Risks & Due Diligence

• Two flats have approximately 53/54 years remaining on their leases.

• The reversionary interests are stated to arise from 2079, so the timing of value realization is long dated.

• No ground rent amount, passing income or flat rental evidence is supplied.

• The stated 1% gross initial yield cannot be independently verified from the supplied data.

• The supplied sold comparables are terraced freehold sales and may not represent the value of this ground rent interest.

• Additional seller or third-party charges may apply, but no amounts are provided.

Recommendation

Treat only as a specialist freehold ground rent and long-term reversionary investment. Do not rely on the supplied house comparables or proceed without verifying the ground rent income, leases, title and all additional charges.

Strategy Rating

Analysis Confidence

The legal structure is described, but the key valuation inputs are missing: ground rent amount, lease rents, passing income, lease documents, fees, and a comparable sale or valuation for the investment interest.