Apartment 404 Weymouth Building, 2 Deacon Street, Elephant & Castle, London, SE17 1GB

Description

A Fourth Floor One Bedroom Flat. The property comprises a fourth floor one bedroom flat situated within a purpose built building arranged over ground and eight upper floors.

Accommodation

Fourth Floor: Open Plan Reception Room/Kitchen; Bedroom; Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Elephant Park are within easy reach. Transport links are provided by Elephant and Castle rail station.

Tenure / Property Information

Investment Analysis

Recent completed sales in the same Weymouth Building were £475,000 and £500,000 in December 2025, with an earlier £485,000 sale in April 2023. The two most recent sales support a base GDV of £487,500, with an evidence-supported range of £475,000–£500,000. Exact flat size, floor-specific comparability and condition are not supplied.

Investment Snapshot

Strategy Recommendation

Potential BTL purchase if the advertised rent, service charge, ground rent and legal-pack terms are verified. Do not rely on a flip or BRRR outcome until total costs, condition and refinance terms are confirmed.

Works Required

No refurbishment works are evidenced. Allowance should be made only after inspection and review of the legal pack; no works budget is included in this analysis.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the base GDV of £487,500 would be approximately £365,625. Cash left in cannot be calculated because works, total acquisition costs and finance costs are not supplied. The strategy is therefore dependent on the purchase price, leasehold costs and lender valuation.

Buy-to-Let Analysis

At the £410,000 guide, the advertised asking rent of £2,492 pcm implies annual rent of £29,904 and a gross yield of approximately 7.3%. This is based on an asking rent, not achieved rent, and excludes service charge, ground rent, management, maintenance, finance, tax and acquisition costs. The BTL case requires verification of achievable rent and leasehold running costs.

Flip Analysis

The recent same-building sales support a base resale value of £487,500 and a range of £475,000–£500,000. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs, legal disbursements and other transaction costs are unsupported.

Investor Risks & Due Diligence

• The £2,492 pcm figure is an advertised asking rent rather than an achieved or passing rent.

• Service charge, ground rent and other leasehold costs are not supplied.

• Legal-pack disbursements may become payable, but their amount is unknown.

• The comparable sales do not provide flat size, floor-specific details or condition, limiting precise valuation.

• The guide price is not a confirmed purchase price and the eventual auction price may be higher.

Recommendation

Potential BTL purchase if the advertised rent, service charge, ground rent and legal-pack terms are verified. Do not rely on a flip or BRRR outcome until total costs, condition and refinance terms are confirmed.

Strategy Rating

Analysis Confidence

Recent same-building completed sales and one advertised rent are available, but flat size, condition, leasehold charges, legal disbursements, achieved rent and full project costs are not supplied.