Basement/Ground Floor Flat 157, Ham Park Road, Forest Gate, London

Description

Long leasehold self-contained two-floor garden maisonette requiring updating, located opposite West Ham Park. By order of a major housing association.

Accommodation

Arranged over 2 floors, approximately 80m² / 866 sq ft. Raised Ground: entrance hall, reception room, cloakroom/WC. Lower Ground: two bedrooms, bathroom/WC. Outside: rear garden.

Location

Situated next to West Ham Park, close to the junction with Upton Lane. Transport options include local bus routes and Stratford, Forest Gate, Plaistow or Upton Park stations, offering rail, London Underground or DLR services. West Ham, the Olympic Park legacy and Stratford Westfield provide shops, restaurants and leisure amenities.

Tenure / Property Information

Investment Analysis

Same-road leasehold flat/maisonette sales range from £215,000 to £400,000, including £215,000 in June 2024, £372,000 in October 2023 and £348,000 in April 2021. The comparables do not provide floor area, bedroom count, garden, condition or lease details, so valuation confidence is limited. An indicative base GDV of £348,000 is used, with broad low and high scenarios of £300,000 and £372,000 respectively. These are estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, lease confirmation, inspection and a detailed works budget. Treat as a potential refurbishment-led resale or long-term hold, but do not rely on BTL or BRRR returns until rent and project costs are evidenced.

Works Required

Updating is required, but the evidence does not specify the condition or scope of works. Obtain a full inspection and budget only evidenced items, including any required redecoration, kitchen, bathroom, flooring, services or external garden works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £348,000 base GDV, 75% refinance proceeds would be approximately £261,000. Total project cost cannot be calculated because refurbishment costs and any additional seller fees are unknown. BRRR viability is therefore unconfirmed and depends on the survey, legal pack, purchase price and works budget.

Buy-to-Let Analysis

BTL cannot be properly assessed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating costs and cash flow therefore cannot be established. The property is vacant and has a new 990-year lease at a peppercorn ground rent, subject to legal-pack confirmation.

Flip Analysis

A resale strategy may have potential if the property can be acquired materially below the indicative GDV and updated economically. However, the refurbishment scope, selling costs, lease details and achievable resale value are not sufficiently evidenced, so no reliable flip surplus or maximum bid can be calculated.

Investor Risks & Due Diligence

• Indicative GDV is uncertain because comparable bedroom counts, sizes, condition and garden details are not supplied.

• The property requires updating, but no quantified refurbishment scope or cost is available.

• No rental evidence is available, so BTL yield and cash flow cannot be assessed.

• Lease information remains awaited despite the proposed new 990-year lease; buyers must verify the legal pack and special conditions.

• Additional seller fees may be payable on completion and are currently unknown.

• Parking and heating details are not supplied.

• EPC information is to be advised.

Recommendation

Proceed only subject to legal-pack review, lease confirmation, inspection and a detailed works budget. Treat as a potential refurbishment-led resale or long-term hold, but do not rely on BTL or BRRR returns until rent and project costs are evidenced.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and a stated property size, tenure and lease term, but the comparables lack key details, while rent, EPC, condition scope, refurbishment costs, seller fees and full lease information are unavailable.