Flat 160 Centrillion Point, 2 Masons Avenue, Croydon, Surrey, CR0 9WY

Description

A Tenth Floor Two Bedroom Flat Subject to a Periodic Tenancy Producing £19,800 Per Annum (Reflecting a Gross Initial Yield of 16.5%). The property comprises a tenth floor two bedroom flat situated within a purpose built block arranged over ground and eleven upper floors.

Accommodation

Tenth 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

Five completed sales at the same building range from £150,000 to £415,000, with a median of £250,000. Because the comparable flat sizes, floors, condition and transaction circumstances are not supplied, £250,000 is used as an indicative base GDV only. A broad evidence-based range is £150,000 to £415,000.

Investment Snapshot

Strategy Recommendation

Prioritise income retention or a BRRR assessment rather than a flip, subject to verifying the tenancy, rent, lease, service-charge position and legal-pack obligations. Do not rely on the headline yield until all leasehold and tenancy information is confirmed.

Works Required

No refurbishment works are evidenced in the supplied information. Verify condition, lease terms, service-charge position, compliance and any required works through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the stated rent produces a strong headline gross yield. A 75% refinance against the indicative £250,000 base GDV would be £187,500. However, refurbishment costs, lender valuation, leasehold costs, service charges and other acquisition costs are not supplied, so total project cost and cash left in cannot be calculated reliably.

Buy-to-Let Analysis

The property is stated to produce £19,800 per annum, equating to a 16.5% gross yield against the £120,000 guide. Two advertised two-bedroom rents are both £1,700 pcm, equivalent to £20,400 per annum, but these are asking rents rather than achieved rents. The tenancy is periodic and the passing rent, tenant status and tenancy terms should be verified. Net yield cannot be assessed because service charge, ground rent, management, maintenance, insurance, voids and other costs are not supplied.

Flip Analysis

The indicative £250,000 base GDV is derived from the median of five same-building completed sales, but the comparables' specifications and condition are unknown. A flip surplus cannot be calculated because works, acquisition costs, legal-pack charges and selling costs are not fully evidenced.

Investor Risks & Due Diligence

• The property is subject to a periodic tenancy, so rent, arrears, tenant status and possession position require verification.

• The stated £19,800 annual rent is auctioneer-provided property information and should be checked against the tenancy documentation and bank evidence.

• Service charge, ground rent, insurance and other leasehold costs are not supplied.

• Buyer disbursements, seller-cost reimbursements, legal fees, transfer fees and other Special Conditions charges may be payable.

• Same-building comparable prices vary materially from £150,000 to £415,000, and their size, floor, condition and transaction circumstances are unknown.

• The lease is approximately 106 years unexpired, but the remaining term, restrictions and obligations should be confirmed in the legal pack.

• Advertised rents are asking rents and may not be achieved.

Recommendation

Prioritise income retention or a BRRR assessment rather than a flip, subject to verifying the tenancy, rent, lease, service-charge position and legal-pack obligations. Do not rely on the headline yield until all leasehold and tenancy information is confirmed.

Strategy Rating

Analysis Confidence

There are same-building completed sales, stated passing rent and rental asking evidence, but comparable specifications, property condition, leasehold costs, tenancy details and full auction costs are incomplete.