Flat 106 Centrillion Point, 2 Masons Avenue, Croydon, Surrey, CR0 9WX

Description

A Seventh Floor Two Bedroom Flat Subject to a Periodic Tenancy Producing £18,600 Per Annum (Reflecting a Gross Initial Yield of 15.5%)

Accommodation

Seventh Floor: Reception Room with Open-Plan Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Park Hill Recreation Ground are within easy reach. Transport links are provided by West Croydon overground station and South Croydon rail station.

Tenure / Property Information

Investment Analysis

Same-building sold evidence ranges from £150,000 to £290,000, with four sales between £270,000 and £290,000. The £150,000 sale is a material outlier, but the evidence does not confirm flat size, floor, condition or exact comparability. A base GDV of £275,000 is therefore used, with a supported observed range of £270,000–£290,000. The guide represents a substantial discount to these higher same-building sales, subject to tenancy, leasehold and legal-pack review.

Investment Snapshot

Strategy Recommendation

Potentially attractive income-led purchase or BRRR candidate at the guide, subject to confirming the tenancy, leasehold liabilities, property condition, financeability and legal-pack costs. Do not rely on the apparent GDV discount for a flip without stronger comparability and full cost information.

Works Required

No refurbishment works are evidenced in the supplied information. Verify condition, fixtures, common parts, service-charge position and any required works through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the stated rent provides a strong headline entry yield. A 75% refinance against the £275,000 base GDV would equate to £206,250 before lender criteria, valuation, fees and affordability. However, refurbishment costs, leasehold charges, finance costs and additional auction disbursements are not supplied, so the cash-left-in calculation cannot be established. Refinance is also not guaranteed and may be affected by the periodic tenancy and leasehold terms.

Buy-to-Let Analysis

The property is stated to produce £18,600 per annum, equivalent to £1,550 pcm, and a stated gross initial yield of 15.5% against the £120,000 guide. This is within the supplied advertised two-bedroom asking-rent range of £1,350–£1,800 pcm. On the guide alone, the passing-rent gross yield is 15.5%; net yield cannot be assessed because service charge, ground rent, management, maintenance, insurance, finance, tax and other costs are not supplied. The periodic tenancy and holding-over status require legal and possession review.

Flip Analysis

The same-building evidence supports a base GDV of £275,000, but comparability is incomplete and one sale at £150,000 is a significant outlier. A flip surplus cannot be calculated reliably because refurbishment costs, resale costs and additional acquisition disbursements are not supplied. The apparent guide-to-GDV discount should therefore not be treated as a confirmed profit.

Investor Risks & Due Diligence

• The property is subject to a periodic tenancy and is holding over; tenancy terms, rent status and possession position require legal review.

• Service charge, ground rent, insurance and other leasehold costs are not supplied, preventing net-yield analysis.

• Additional disbursements and possible search, seller-cost, legal and transfer fees may be payable under the special conditions.

• Sold comparables are at the same address but their exact size, floor, condition and specification are not supplied.

• The £150,000 same-building sale is materially below the other supplied comparables, creating uncertainty around achievable GDV.

• Refinance at 75% of GDV is an estimate only and is not guaranteed by a lender or valuer.

Recommendation

Potentially attractive income-led purchase or BRRR candidate at the guide, subject to confirming the tenancy, leasehold liabilities, property condition, financeability and legal-pack costs. Do not rely on the apparent GDV discount for a flip without stronger comparability and full cost information.

Strategy Rating

Analysis Confidence

The evidence includes same-building completed sales, stated passing rent, advertised rental evidence and lease details, but lacks exact comparable specifications, condition, service charges, ground rent, council tax, finance terms, resale costs and full auction disbursements.