Flat 11 Winchester Court, 242 Billet Road, Walthamstow, London, E17 5HE

Description

A Vacant Second floor Two Bedroom Flat. The property comprises a second floor two bedroom flat situated within a purpose built block arranged over 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. Numerous green open spaces are within easy reach. Transport links are provided by North Circular Road and Blackhorse Road underground station (Victoria line) and overground station.

Tenure / Property Information

Investment Analysis

Same-block leasehold flat sales range from £263,300 to £325,000 between 2020 and 2023, with older sales lower. Exact flat comparability and current condition are unconfirmed. A cautious base GDV of £277,000 is used, with evidence-based low/high scenarios of £263,300/£325,000.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, inspection, leasehold-cost checks and independent valuation. The low guide price appears potentially attractive against same-block sales, but evidence is insufficient for an unconditional bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any legally or condition-supported works only after reviewing the legal pack and viewing.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £277,000 base GDV, 75% refinance is £207,750. Total acquisition, works and leasehold costs are incomplete, so cash left in and equity cannot be established. The strategy requires confirmation of rent, valuation and legal-pack costs.

Buy-to-Let Analysis

The £1,300 pcm figure is one advertised asking rent for a different stated location, so it is only an indicative proxy and not a reliable achieved rent for this flat. At the £130,000 guide, the arithmetic gross yield is 12%, before fees, finance and leasehold costs.

Flip Analysis

The base GDV is £277,000, but refurbishment, buyer costs, selling costs and exact resale value are not sufficiently evidenced. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• The sales evidence is for the building address and does not confirm the exact flat.

• The rental evidence is an advertised asking rent for a different stated location, not achieved rent for this property.

• Buyer premium, leasehold charges and any legal-pack disbursements are not quantified.

• Approximately 98 years remain on the lease; lease terms and costs require legal review.

• Current condition and refurbishment requirements are not evidenced.

Recommendation

Proceed only subject to legal-pack review, inspection, leasehold-cost checks and independent valuation. The low guide price appears potentially attractive against same-block sales, but evidence is insufficient for an unconditional bid.

Strategy Rating

Analysis Confidence

Same-block completed sales are available, but the exact comparable unit, current condition, leasehold charges, disbursements and reliable property-specific rent are not supplied.