Flat 14 Ajax House, Old Bethnal Green Road, Bethnal Green, London, E2 6QY

Description

A Vacant First Floor Three Bedroom Flat. The property comprises a first floor three bedroom flat situated within a purpose built building arranged over ground and three upper floors.

Accommodation

First Floor: Reception Room, Kitchen, Three Bedrooms, Bathroom, Separate WC

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Victoria Park are within easy reach. Transport links are provided by Bethnal Green underground station (Central line) and Old Street rail station.

Tenure / Property Information

Investment Analysis

Same-building sold evidence ranges from £255,000 to £475,000, with the latest supplied sale at £475,000 in February 2023. However, sale dates, flat sizes, condition and current market position are not supplied, so a reliable current GDV cannot be established.

Investment Snapshot

Strategy Recommendation

Do not bid above the guide without reviewing the legal pack, confirming lease terms and charges, inspecting condition, and obtaining current valuation and rental evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a survey and inspect the flat before budgeting works; review the lease and legal pack for obligations and charges.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten because current GDV, refurbishment cost, rent and refinance value are unsupported. The approximately 87-year lease requires lender and resaleability checks.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The £1,800 administration fee and possible legal-pack charges would also increase acquisition cost.

Flip Analysis

A flip case cannot be reliably calculated. Same-building historic sales provide context, but condition, size, selling costs and a current resale value are not supplied.

Investor Risks & Due Diligence

• Approximately 87 years remain on the lease.

• Special conditions may impose search fees, seller-cost reimbursement, legal fees and transfer fees.

• Property condition and refurbishment requirements are not evidenced.

• No sufficiently specific rental evidence is available.

• Historic same-building sale prices vary materially and may not represent current value.

Recommendation

Do not bid above the guide without reviewing the legal pack, confirming lease terms and charges, inspecting condition, and obtaining current valuation and rental evidence.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide price and same-building historic sales are supplied, but current valuation, condition, rent, size, costs and legal disbursements are incomplete.