Flat 15 Cobden Court, Byron Close, Greenwich, London, SE28 8AG

Description

A Third and Fourth Floor Two Bedroom Split Level Maisonette Subject to a Periodic Tenancy Producing £15,600 Per Annum (Reflecting a Gross Initial Yield of 10.4%)

Accommodation

Third Floor: Two Bedrooms; Bathroom; Separate WC. Fourth Floor: Reception Room; Kitchen/Diner.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Southmere Park are within easy reach. Transport links are provided by Abbey Wood underground station (Elizabeth line) and rail stations.

Tenure / Property Information

Investment Analysis

The supplied completed-sale evidence is limited to three Cobden Court transactions from 2009 and 2016, ranging from £66,000 to £140,000. The latest £140,000 sale is historic and no current comparable or formal valuation is provided, so a current GDV cannot be supported. The £140,000 guide is used only as the analysis purchase figure, not as a formal market value.

Investment Snapshot

Strategy Recommendation

Potential income-led hold at the guide, subject to legal-pack, tenancy, lease and property-condition checks. Do not underwrite BRRR or a flip without a current valuation and verified costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, routine compliance checks and any works identified in the legal pack or survey; no refurbishment allowance has been included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot establish refinance proceeds because no current GDV or lender valuation is supported. The property has approximately 101 years unexpired on the stated lease, but periodic-tenancy terms, condition, finance costs and any legal-pack disbursements require review. At the guide plus the known £1,800 administration charge, the documented acquisition cost is £141,800 before any works or other charges.

Buy-to-Let Analysis

The property is subject to a periodic tenancy producing £15,600 per annum, equivalent to £1,300 pcm. At the £140,000 guide, the gross yield is approximately 11.14%; including the stated £1,800 administration charge, it is approximately 11.00%, before finance, tax, insurance, maintenance, voids and management. The passing rent is below the supplied advertised asking rents of £1,562–£2,100 pcm, but those listings are not established as directly comparable achieved rents. BTL viability therefore depends on tenancy terms, rent sustainability and legal-pack review.

Flip Analysis

A flip surplus cannot be calculated because no current GDV, refurbishment budget or supported selling-cost allowance is provided. The historic comparables are insufficient to establish a current resale value, and no condition information supports a renovation strategy.

Investor Risks & Due Diligence

• The tenancy is periodic, so income and possession assumptions require legal and tenancy-document verification.

• The £15,600 annual figure is passing rent, not evidence of achievable market rent.

• The comparable sales are historic, with the latest supplied transaction from 2016, limiting current valuation confidence.

• No property-condition or refurbishment evidence is supplied, so costs could not be quantified.

• Additional disbursements, seller costs, legal fees, search fees or transfer fees may be payable under the special conditions.

• Leasehold obligations and approximately 101 years unexpired require legal-pack review.

Recommendation

Potential income-led hold at the guide, subject to legal-pack, tenancy, lease and property-condition checks. Do not underwrite BRRR or a flip without a current valuation and verified costs.

Strategy Rating

Analysis Confidence

Passing rent, guide price, administration charge, lease length and historic local sales are supplied, but current valuation evidence, condition, refurbishment costs, full purchase charges and detailed tenancy information are absent.