Flat 1 Bethany Lodge, 1 Devonshire Road, Bexleyheath

Description

A two bedroom ground floor flat. The property benefits from a parking space. In need of modernisation. Vacant. EPC - C.

Accommodation

Ground Floor - Lounge/Kitchen, Two Bedrooms, En Suite, Bathroom, Storage room

Location

Located on Devonshire Road, accessed off Broadway and Standard Road. Local amenities are available along Park View Road. The property is in close proximity to various recreational amenities including green spaces such as Danson Park and Bexleyheath Golf Course. Transport links via Bexleyheath and access to the A2. Transport Bexleyheath - Thameslink, southeastern.

Tenure / Property Information

Investment Analysis

The strongest evidence is five recorded leasehold sales at Bethany Lodge, 1 Devonshire Road, at £200,000, including one dated 2 June 2026. This supports an indicative GDV of £200,000, subject to confirmation that the sales relate to comparable flats and reflect the subject property's condition, floor, size and parking. Louise Court at £295,000 is less directly comparable. The £185,000 guide is £15,000 below the supported £200,000 evidence, before refurbishment, buyer premium, VAT and other charges.

Investment Snapshot

Strategy Recommendation

Proceed only after inspection, lease review, rent evidence and confirmation of all auction and seller charges. On the supplied evidence, avoid bidding at a level that assumes a profit solely from the £15,000 guide-to-GDV difference.

Works Required

Modernisation is required, but the evidence does not specify the scope. Obtain a survey and quotation before bidding; only works confirmed by inspection should be included. Check the condition of the lounge/kitchen, two bedrooms, en suite, bathroom, storage room and common or external areas, together with the parking space and lease documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £185,000 guide, the property would require an unknown refurbishment budget and unspecified acquisition charges. A 75% refinance against the £200,000 supported GDV equates to £150,000, but total project cost and therefore cash left in cannot be calculated. BRRR viability is unproven and depends on achieving the assumed GDV after modernisation, lender valuation and acceptable leasehold terms.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The guide price, refurbishment cost, buyer premium, possible VAT and any seller charges are also not fully quantified. Do not rely on a rental return until local rent evidence and all leasehold costs are confirmed.

Flip Analysis

The available evidence supports a £200,000 indicative GDV, but refurbishment costs, buyer charges, selling costs and VAT treatment are unknown. A flip surplus cannot therefore be calculated. The £15,000 guide-to-GDV difference is unlikely to be a reliable margin until all project and disposal costs are established.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unspecified.

• No sufficiently specific rental evidence is available.

• Buyer premium amount is unspecified and VAT may apply.

• Seller special conditions may impose additional charges and may include VAT on the sale price.

• Leasehold terms, including any service charge, ground rent, restrictions and remaining-term implications, are not supplied.

• The recorded sales are at the building address, but flat-specific comparability is not confirmed.

Recommendation

Proceed only after inspection, lease review, rent evidence and confirmation of all auction and seller charges. On the supplied evidence, avoid bidding at a level that assumes a profit solely from the £15,000 guide-to-GDV difference.

Strategy Rating

Analysis Confidence

There is repeated same-building completed-sale evidence supporting a £200,000 indication, but no quantified refurbishment allowance, rent, buyer premium, seller charges, VAT treatment or detailed comparable specifications.