8 Royle Close, Romford

Description

A two-bedroom first-floor flat ideally located for access to Romford town centre and Gidea Park Elizabeth Line station.

Accommodation

Ground floor: communal entrance with staircase. First floor: entrance door, hallway, living room, kitchen, bathroom with W.C., and two bedrooms. Outside: garage (number 8) in block.

Location

Ideally located for access to Romford town centre and Gidea Park Elizabeth Line station.

Tenure / Property Information

Investment Analysis

The five supplied same-close leasehold flat sales range from £192,500 to £295,000, with an average of approximately £247,800. The evidence does not provide their size, condition, lease terms or garage details, so valuation precision is limited. A cautious evidence-based scenario range is £228,500–£295,000, with £255,000 used as the base GDV.

Investment Snapshot

Strategy Recommendation

Proceed only after legal review of the approximately 47-year remaining lease, confirmation of service charges and garage rights, and a detailed inspection with priced works. Do not rely on the guide-to-GDV spread alone. A conditional refurbishment and resale strategy is more supportable than BRRR, but neither should proceed without verified costs and lease advice.

Works Required

Inspect and price the required improvement works before bidding. The supplied evidence does not identify specific defects, so no refurbishment scope or cost allowance can be reliably stated. Review EPC E, the lease, garage rights, communal areas and all required statutory/compliance matters.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £140,000 guide, the indicative 75% refinance of the £255,000 base GDV is £191,250. However, refurbishment costs, acquisition charges, finance costs and lender treatment of the remaining lease term are unknown. The lease began in 1974 for 99 years, leaving approximately 47 years in 2026, which may materially restrict refinanceability and value. BRRR feasibility is therefore unproven.

Buy-to-Let Analysis

The supplied advertised rents range from £600 to £1,600 pcm and are not achieved rents; the spread is too wide to select a reliable base rent. On the £140,000 guide, the evidence range implies gross yields of approximately 5.14% to 13.71%, before ground rent, service charge, voids, management, maintenance, finance and other costs. A dependable BTL yield cannot be established without verified local rent and full lease/service-charge information.

Flip Analysis

The comparable evidence supports a broad resale scenario of £228,500 to £295,000, with £255,000 as the base GDV. A flip surplus cannot be calculated because refurbishment costs, buyer/admin charges, selling costs, finance costs and other completion costs are not supplied. The short remaining lease is also a material resale consideration.

Investor Risks & Due Diligence

• Approximately 47 years remain on the lease based on the stated 99-year term from 29 September 1974.

• Lease extension, lender and resale implications are unknown.

• Refurbishment scope and cost are not supplied despite the property being described as for improvement.

• Rental evidence is inconsistent and consists only of advertised asking rents.

• Administration, other non-optional fees, Stamp Duty, Land Registry, VAT, search and other completion costs may apply.

• EPC is rated E.

• Vacant possession creates letting and void risk.

• Service charge and communal repair liabilities are not supplied.

• The guide price is not a valuation and the comparable properties' size, condition and lease details are not provided.

Recommendation

Proceed only after legal review of the approximately 47-year remaining lease, confirmation of service charges and garage rights, and a detailed inspection with priced works. Do not rely on the guide-to-GDV spread alone. A conditional refurbishment and resale strategy is more supportable than BRRR, but neither should proceed without verified costs and lease advice.

Strategy Rating

Analysis Confidence

Same-block completed sales support a broad GDV range, but the evidence lacks subject size, condition, service charge, heating details, lease covenants, refurbishment costs, verified rent and buyer/selling cost figures.