Carpenters Court, 4A Lewes Road, Bromley

Description

A rare opportunity to acquire a substantial freehold residential investment comprising 14 self-contained flats within a gated development. The entire income-producing unbroken development is currently let and producing £201,180 per annum. The accommodation is arranged over the ground and first floor, with seven flats on each floor, comprising a mixture of one- and two-bedroom accommodation.

Accommodation

14 flats. Ground floor: Flat 1, one-bedroom, £1,425 pcm; Flat 2, two-bedroom, £1,275 pcm; Flat 3, one-bedroom, £1,395 pcm; Flat 4, one-bedroom, £1,295 pcm; Flat 5, one-bedroom, £1,000 pcm; Flat 6, one-bedroom, £1,195 pcm; Flat 7, one-bedroom, £1,125 pcm. First floor: Flat 8, one-bedroom, £1,095 pcm; Flat 9, two-bedroom, £1,300 pcm; Flat 10, two-bedroom, £1,225 pcm; Flat 11, two-bedroom, £1,100 pcm; Flat 12, two-bedroom, £1,195 pcm; Flat 13, one-bedroom split-level, £995 pcm; Flat 14, one-bedroom, £1,145 pcm. The development has communal external areas.

Location

Situated on Lewes Road among mainly established residential surroundings, with Bromley town centre providing shopping, recreational and transport facilities. The development is approached via a gated entrance from Lewes Road.

Tenure / Property Information

Investment Analysis

The £2,700,000+ guide equates to a current gross income yield of approximately 7.45% on the stated £201,180 annual rent. The auctioneer's estimated 2027 income of £216,060 would equate to approximately 8.00% at the guide price, but this is an estimate following proposed rent increases and is not passing rent. No completed sales comparables, capitalisation rate, operating-cost schedule, condition report or buyer-fee amounts are supplied, so GDV and a reliable market-value range cannot be established.

Investment Snapshot

Strategy Recommendation

Consider as a long-term income investment only, subject to verification of the rent roll, tenancy terms, legal compliance, building condition, operating costs and all auction fees. Do not rely on the estimated 2027 rent or bid without a supported valuation and full cost schedule.

Works Required

No refurbishment works are evidenced in the supplied particulars. A building, communal-area and tenancy due-diligence review is required before budgeting; no supported refurbishment allowance can be quantified.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no GDV, supported valuation evidence, refurbishment budget, lender terms or buyer-cost schedule is provided. The property is already fully let, so the principal evidence-supported proposition is an income-producing freehold investment rather than a refurbishment-led refinance.

Buy-to-Let Analysis

The investment is fully let across 14 flats and currently produces stated gross rent of £201,180 per annum, or £16,765 pcm. This supports a gross yield of approximately 7.45% against the £2.7m guide. The possible 2027 rent of £216,060 would improve the gross yield to approximately 8.00%, but depends on notices and proposed increases. Net yield cannot be established because operating costs, management, maintenance, voids, utilities, insurance, compliance costs and financing are not supplied.

Flip Analysis

A flip surplus cannot be calculated. No completed comparable sales, GDV, refurbishment budget, selling allowance or full acquisition-cost schedule is supplied. The existing fully let status and Assured Periodic Tenancies would also require careful consideration before any resale or vacant-possession strategy.

Investor Risks & Due Diligence

• All 14 flats are subject to existing Assured Periodic Tenancies, so tenancy terms, rent status and any possession requirements require legal review.

• The £216,060 2027 rent figure is an auctioneer estimate dependent on proposed rent increases and is not achieved or passing rent.

• Buyer premium, administration charges and other non-optional costs are unspecified, preventing a complete acquisition-cost calculation.

• No operating-cost information is supplied, so net income and net yield cannot be established.

• No condition, communal-area maintenance or compliance information is supplied.

• No completed sales comparables or other valuation evidence are supplied, preventing reliable GDV and maximum-bid analysis.

Recommendation

Consider as a long-term income investment only, subject to verification of the rent roll, tenancy terms, legal compliance, building condition, operating costs and all auction fees. Do not rely on the estimated 2027 rent or bid without a supported valuation and full cost schedule.

Strategy Rating

Analysis Confidence

The property provides detailed unit rents, full occupancy, tenure and EPC information, but there are no sold comparables, formal valuation inputs, operating costs, condition evidence, refurbishment budget or specified auction fees.