89, Fishers Close (G/FFF & Garden), Waltham Cross, Hertfordshire, EN8 7NN

Description

Leasehold ground floor maisonette comprising three bedrooms, bathroom/wc, reception room, kitchen, cloakroom/wc and rear garden.

Accommodation

First floor: Three bedrooms, bathroom/wc. Ground floor: Reception room, kitchen, cloakroom/wc. Outside: Rear garden.

Location

The property is located on Fishers Close, which lies off Longcroft Drive. Shopping amenities are available within Waltham Cross Town Centre, with further shops, bars and restaurants in Central London. Public transport links are available at Waltham Cross Train Station, Theobalds Grove London Overground Station and local bus services. Road links include the M25 and A10. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Comparable leasehold maisonettes on Fishers Close sold for £292,500 to £335,000, including £335,000 in July 2024 and £315,000 in November 2022. A base GDV of £315,000 is used, with £292,500 and £335,000 as evidence-supported low and high scenarios. The subject’s 80-year lease and unknown lease costs may affect value, while size, condition and exact lease terms are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease and special conditions, confirming all completion charges, and obtaining reliable condition and rental evidence. The guide appears below local comparable sales, but the unknown lease costs, condition and rent make a firm strategy or bid limit unsupported.

Works Required

No specific refurbishment works are evidenced. A condition inspection and review of the lease, ground rent, service charge and other lease information are required before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £190,000 guide, the known buyer contract documentation fee is £1,800, before any seller fees, refurbishment, finance, taxes or lease-related costs. A 75% refinance against the £315,000 base GDV would be £236,250. However, total project cost and cash left in cannot be calculated because works, lease costs and other completion costs are unknown.

Buy-to-Let Analysis

Advertised three-bedroom rents range from £620 to £2,500 pcm, with another listing at £2,150 pcm. These are asking rents rather than achieved rents and are too inconsistent to support a reliable single rent or BTL yield. On the £190,000 guide, the evidenced rent range implies approximately 3.92% to 15.79% gross yield, but this range should not be treated as dependable without comparable-property validation.

Flip Analysis

The comparable evidence supports a broad resale value range of £292,500 to £335,000, with £315,000 as the base scenario. A flip surplus cannot be calculated because refurbishment, selling and other project costs are not supplied. The 80-year lease and unknown lease terms require specific due diligence before relying on the GDV.

Investor Risks & Due Diligence

• Only 80 years remain on the lease, with lease information awaited.

• Ground rent, annual service charge and other lease costs are unknown.

• The seller may charge additional completion fees under the special conditions.

• Property condition and any required refurbishment are not evidenced.

• Rental evidence ranges widely from £620 to £2,500 pcm and consists of advertised asking rents.

• Parking and heating details are unknown.

• Exact property size and the basis for differences between comparable sales are not supplied.

Recommendation

Proceed only after reviewing the lease and special conditions, confirming all completion charges, and obtaining reliable condition and rental evidence. The guide appears below local comparable sales, but the unknown lease costs, condition and rent make a firm strategy or bid limit unsupported.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price evidence and a stated guide price, but the lease information, condition, costs, exact accommodation size, achieved rent and occupancy details are incomplete. Rental evidence is particularly inconsistent and is advertised rather than achieved.