9, Futura House (2FF), 169, Grange Road, Bermondsey, London, SE1 3BN

Description

Leasehold second floor flat

Accommodation

Principal bedroom with en-suite, one further bedroom, reception room open plan to kitchen, bathroom/wc

Location

The property is located on Grange Road (A2206). Shopping amenities are available within Elephant & Castle and Southwark with a further range of shops, bars and restaurants found within Central London lying to the west. Public transport links are available at Elephant & Castle Train and London Underground Station (Bakerloo and Northern lines) located to the east and at Borough London Underground Station lying to the west along with a network of local bus services serving the surrounding areas. The property is served by road links including the A2206 and the A100 lying to the west. Recreational pursuits can be found at Bermondsey Spa Gardens located to the east.

Tenure / Property Information

Investment Analysis

The evidence includes five leasehold flat sales on Grange Road, including a £690,000 sale at Futura House in February 2023. Other reported sales range from £375,000 to £840,000, but no comparable floor areas, bedroom counts, condition, lease lengths or service-charge details are supplied. A base GDV of £690,000 is therefore used as an indicative reference only, with £533,000 to £840,000 representing the supplied comparable range rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Due diligence-led purchase only. Obtain and review the lease, service-charge and ground-rent information, special conditions, fees and physical condition before bidding; do not rely on the headline comparable value gap.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain inspection information and verify the condition of the flat, communal areas, kitchen, bathrooms, services and any required compliance works before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £690,000 base GDV, 75% refinance is approximately £517,500. Total project cost cannot be calculated because refurbishment, leasehold costs, service charge, ground rent and any seller-charged completion fees are unknown. The apparent value gap against the £320,000 guide should not be relied upon until the lease and comparable specifications are verified.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence, auctioneer rent estimate, lease length, service charge or ground rent is supplied. Council Tax Band E and EPC C are noted, but do not establish achievable rent or net profitability.

Flip Analysis

A flip surplus cannot be calculated because refurbishment costs, selling costs and any applicable seller-charged fees are unknown. The comparable evidence suggests potential value above the guide, but the wide £533,000–£840,000 range and lack of size, condition and lease details make the resale outcome uncertain.

Investor Risks & Due Diligence

• Lease length is awaited and may affect mortgageability and resale value.

• Annual service charge, ground rent and ground-rent review terms are unknown.

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

• No sufficiently specific rental evidence is available.

• Comparable sale prices vary materially and lack size, bedroom, condition and lease-detail context.

• No property-condition or refurbishment-cost evidence is supplied.

• Parking and heating information are unavailable.

Recommendation

Due diligence-led purchase only. Obtain and review the lease, service-charge and ground-rent information, special conditions, fees and physical condition before bidding; do not rely on the headline comparable value gap.

Strategy Rating

Analysis Confidence

There is useful local completed-sale evidence and one sale at the same development, but bedroom/size/condition details, lease terms, rental evidence, refurbishment costs and potentially payable completion charges are unavailable.