First Floor Flat, 92 Burlington Road, New Malden, Surrey, KT3 4NT

Description

Leasehold first floor flat

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on to the rear of Burlington Road. Shopping amenities can be found locally within New Malden, with Kingston Town Centre to the north west and Central London located to the north east. Public transport links are available at New Malden Train Station to the north west and Motspur Park Train Station to the south east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A3 to the south. Recreational pursuits can be found at Blagdon Park to the north.

Tenure / Property Information

Investment Analysis

The supplied HM Land Registry evidence is limited and dated: the direct sale at 92 Burlington Road was £136,000 in 2004, while the repeated sales at 98 Burlington Road range from £100,000 to £269,950 in 2015–2016. These records are not sufficiently current or directly comparable to establish a reliable present-day GDV. The 70–71 year lease is also a material value and finance consideration. No supported GDV is therefore stated.

Investment Snapshot

Strategy Recommendation

Do not bid on a flip or BRRR basis without current valuation evidence, legal review of the lease and confirmed all-in costs. A BTL appraisal is potentially attractive on the headline guide-price yield, but only proceed after verifying achievable rent, recurring leasehold charges, mortgageability and lease-extension exposure.

Works Required

No specific repair or refurbishment works are evidenced. The flat is recorded as EPC E, but no works should be budgeted without inspection, lease review and contractor quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably underwritten because no current GDV, refurbishment budget, finance costs or lease-extension costs are supported. A 70–71 year lease is a significant refinance and exit risk, and the £1,800 buyer administration charge is known while any seller-charged completion fees remain unspecified.

Buy-to-Let Analysis

The supplied advertised asking rents are £1,400–£1,600 pcm, equivalent to £16,800–£19,200 annually. Against the £165,000 guide, the indicative gross yield is approximately 10.18%–11.64%, before finance, service charge, ground rent, voids, management, maintenance, tax and lease-related costs. These are asking rents rather than achieved rents. The 70–71 year lease may restrict lender appetite and affect resale and future lease-extension cost.

Flip Analysis

A flip surplus cannot be calculated reliably. Current resale evidence is not supplied; the available comparable sales are from 2015–2016 and the direct subject sale is from 2004. Works, selling costs, lease-extension implications and any special-condition fees are also unknown.

Investor Risks & Due Diligence

• Only 70–71 years remain on the lease, creating potential mortgageability, resale and lease-extension risk.

• The rental figures are advertised asking rents, not achieved or passing rents.

• The available sold comparables are dated 2004–2016 and include repeated records with materially different prices.

• No condition survey or refurbishment quotation is supplied.

• The EPC is rated E.

• The £1,800 buyer administration charge is known, but possible seller-charged completion fees are unspecified.

Recommendation

Do not bid on a flip or BRRR basis without current valuation evidence, legal review of the lease and confirmed all-in costs. A BTL appraisal is potentially attractive on the headline guide-price yield, but only proceed after verifying achievable rent, recurring leasehold charges, mortgageability and lease-extension exposure.

Strategy Rating

Analysis Confidence

Rental evidence and the guide price are supplied, but current comparable sales, property condition, refurbishment costs, recurring leasehold charges, financeability and total completion costs are unavailable.