95 Norbury Crescent, London

Description

This converted two-bedroom flat forms the whole of the ground floor of this terraced, bay-fronted property, which is in need of some repair. The property has contemporary fixtures and fittings, gas heating system via radiators, and double glazing throughout. There is a parking space to the front of the property, together with a good-sized rear garden.

Accommodation

Entrance hall, two double bedrooms, living room, kitchen with glazed door to the rear garden, bathroom/w.c.

Location

The property is situated just off the A23 in the London suburb of Norbury, providing access to a comprehensive range of local shopping facilities and amenities, including a mainline railway station. There are excellent road links to Central London, Gatwick and surrounding areas via the nearby A23.

Tenure / Property Information

Investment Analysis

The supplied sold evidence is limited and inconsistent: same-street flat sales range from £190,000 to £462,213, with no comparable floor area, bedroom count, condition, lease length or specification provided. The £462,213 sale of 87A may indicate a higher-value property, but its comparability cannot be established. A supported GDV cannot therefore be quantified from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain the legal pack, inspect the property, quantify repairs and confirm a genuinely comparable resale value and achievable rent before considering a BTL, BRRR or flip strategy.

Works Required

Inspect and address the unspecified repairs noted in the description, followed by a proportionate refresh of the existing fixtures, fittings and finishes. Confirm the condition of the gas heating, double glazing, kitchen, bathroom, garden and parking space before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be quantified because there is no supported GDV, refurbishment budget, rental evidence or finance-cost information. The approximately 99-year lease remainder implied by the stated 125-year lease from 29 September 2000 should be verified with the legal pack, together with all lease terms and charges.

Buy-to-Let Analysis

A BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate was supplied. The flat is vacant and has a £100 per annum ground rent, but service charges and other ownership costs are not provided.

Flip Analysis

A flip surplus cannot be calculated. The property is described as needing some repair, but no quantified works allowance, sufficiently comparable GDV or selling-cost allowance is supplied. The wide range of same-street sold prices makes the available evidence unsuitable for a reliable resale estimate.

Investor Risks & Due Diligence

• The property is stated to need some repair, but the scope and cost are unspecified.

• Same-street sold prices vary materially and the comparability of the supplied sales cannot be established.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Buyer administration and other non-optional fees are unspecified and may be payable in addition to the bid.

• Leasehold obligations beyond the stated £100 annual ground rent, including any other charges, are not supplied.

• The property is vacant, so there is no passing rental income.

Recommendation

Do not bid on the supplied evidence alone. Obtain the legal pack, inspect the property, quantify repairs and confirm a genuinely comparable resale value and achievable rent before considering a BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

The property description and tenure information are available, but there is no specific rental evidence, quantified repair budget, sufficiently comparable valuation evidence, or confirmed buyer and administration costs.