Flat 19 Soane House, Roland Way, Walworth, London

Description

Vacant leasehold self-contained sixth floor flat with a reception room/kitchen, three bedrooms and a bathroom. GIA approximately 54 sq m (581 sq ft), sourced from the EPC.

Accommodation

Reception Room/Kitchen, Three Bedrooms, Bathroom; GIA approximately 54 sq m (581 sq ft)

Location

Situated on the north side of Roland Way, east of its junction with Portland Street. Local shops and amenities are available to the north west along Walworth Road. Kennington underground station is approximately 0.9 miles to the west. The A2 (Old Kent Road) is readily accessible and the open spaces of Burgess Park are nearby. Elephant & Castle rail and underground stations are to the north.

Tenure / Property Information

Investment Analysis

The only same-building completed sale supplied is £196,000 on 13 February 2015, with earlier sales from 2004–2006. These are historic and no current comparable evidence, floor-area adjustment, condition evidence or formal valuation is provided. A current GDV cannot therefore be supported from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not set a bid based on the supplied evidence alone. Obtain a current valuation, inspection, rental evidence and complete lease/legal-pack review before considering purchase.

Works Required

No refurbishment works are evidenced. Obtain a physical inspection and review the lease, service-charge information and legal pack before specifying any works allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because there is no supported current GDV, rent, refurbishment budget, finance cost or known acquisition-cost schedule. The approximately 90-year lease term and £10 annual ground rent should be verified through the legal pack.

Buy-to-Let Analysis

The property is vacant, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent, yield and BTL viability cannot be established. Buyer and other potential charges are also unspecified.

Flip Analysis

A flip surplus cannot be calculated. The £196,000 same-building sale completed in 2015 is historic, while current market value, condition, works and selling costs are unsupported.

Investor Risks & Due Diligence

• Historic comparable evidence may not represent the current value of the flat.

• No sufficiently specific rental evidence is available, so rental income and yield are unverified.

• Property condition and any required refurbishment works are not provided.

• Buyer premium, administration charge and other potential charges are unspecified.

• Leasehold legal terms, service charges and any restrictions are not provided; approximately 90 years remain on the stated lease.

• The flat is vacant, so no passing rent or tenancy information is available.

Recommendation

Do not set a bid based on the supplied evidence alone. Obtain a current valuation, inspection, rental evidence and complete lease/legal-pack review before considering purchase.

Strategy Rating

Analysis Confidence

Historic same-building sales are available, but there is no current valuation, rental evidence, condition report, refurbishment budget, buyer-fee schedule or supported selling-cost allowance.