Flat 1 Harcourt Mansions, Penge Road, South Norwood, London

Description

A Second Floor Two Bedroom Flat Offered with Vacant Possession. The property comprises a second floor two bedroom flat situated within a purpose built building arranged over lower ground, ground, and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of South Norwood Lake & Grounds are within easy reach. Transport links are provided by Norwood Junction overground station and Birbeck rail station.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or formal valuation evidence is supplied, so GDV and a supported maximum bid cannot be established. The £250,000+ guide implies an approximate price of £125,000+ per bedroom, but this is not a valuation. Rental evidence comprises two advertised asking rents of £1,500–£1,600 pcm for two-bedroom flats in SE20; these are not achieved rents and may not be directly comparable. The flat has vacant possession, an allocated parking space, a 999-year lease with approximately 942 years remaining, and a share of freehold. Buyer/admin and potential legal or other charges require further legal-pack review.

Investment Snapshot

Strategy Recommendation

Treat as a potential BTL only subject to survey, legal-pack review, confirmation of service charges and validation of achievable rent. Do not set a maximum bid or pursue a flip/BRRR strategy without completed-sale evidence and a full cost schedule.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a survey and inspect the kitchen, bathroom, finishes, services and communal areas before budgeting any works.

Rental & Market Context

Potential BRRR Position

BRRR analysis cannot be completed reliably because no GDV, refurbishment budget, finance terms or completed-sale comparables are supplied. The long lease and share of freehold may assist marketability, but refinance capacity cannot be calculated without an evidence-supported valuation.

Buy-to-Let Analysis

Using the advertised asking-rent range of £1,500–£1,600 pcm against the £250,000 guide, the indicative gross yield is 7.20%–7.68%, before the £1,800 administration fee, any other acquisition charges, service charges, ground rent, maintenance, voids, management, finance and tax. Achieved rent and operating costs are not supplied, so net yield and cash flow cannot be established.

Flip Analysis

A flip surplus cannot be calculated because no completed-sale evidence, GDV, refurbishment allowance or supported selling-cost allowance is supplied. The guide price plus the £1,800 administration fee already excludes any other possible legal, search, transfer or seller-cost reimbursements.

Investor Risks & Due Diligence

• No completed-sale comparables or formal valuation evidence are supplied.

• Rental figures are advertised asking rents rather than achieved rents.

• Property condition and any refurbishment requirement are unknown.

• Service charges, ground rent and communal maintenance costs are not supplied.

• Additional search, legal, transfer and possible seller-cost reimbursements may be payable under the legal pack.

• EPC, council tax and heating information are not supplied.

• Auction purchase is subject to legal-pack terms and vacant-possession completion risk.

Recommendation

Treat as a potential BTL only subject to survey, legal-pack review, confirmation of service charges and validation of achievable rent. Do not set a maximum bid or pursue a flip/BRRR strategy without completed-sale evidence and a full cost schedule.

Strategy Rating

Analysis Confidence

Basic tenure, occupancy, accommodation, guide price, administration fee and asking-rent evidence are supplied, but there are no completed-sale comparables, condition assessment, EPC, council tax, service-charge details, achieved rent, GDV or full fee schedule.