Flat 1B, Valebrook, 2, Park Avenue, Ilford, Essex, IG1 4RT

Description

Leasehold first floor two-bedroom self-contained flat requiring renovation.

Accommodation

Two bedrooms, reception room, kitchen, bathroom/WC and separate WC.

Location

Situated on Park Avenue. Public transport links include Ilford Elizabeth Line Station and local bus services. Road links include the A406 North Circular Road and the A12. Shopping amenities are available locally in Ilford Town Centre, with further shops, bars and restaurants in Stratford and Central London. Valentines Park is within easy walking distance.

Tenure / Property Information

Investment Analysis

Same-address sold evidence ranges from £191,000 to £340,000. The latest supplied sale was £295,000 on 4 June 2026, which is used as the base GDV. The higher and lower historic sales may reflect differences in condition, lease length or other unprovided factors. The flat has approximately 40 years 7 months to 41 years remaining, with service charge, ground rent and review terms unknown, so GDV confidence is limited.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. First obtain the special conditions, full lease and management information, confirm service charge and ground rent liabilities, obtain a lease-extension assessment and price a detailed renovation. Proceed only if the resulting total cost leaves a clear margin against a conservatively assessed GDV.

Works Required

Renovation of the two-bedroom flat, including the kitchen, bathroom/WC, separate WC and general internal finishes, subject to inspection and the auction legal pack. No quantified works allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £135,000 guide, the 75% refinance indication on the £295,000 base GDV is £221,250. However, refurbishment cost, service charge, ground rent, seller fees and total project cost are unknown, so cash left in and equity cannot be calculated reliably. The short remaining lease also requires specialist legal and valuation review before relying on refinancing.

Buy-to-Let Analysis

The supplied rental evidence ranges from £580 to £2,125 pcm, but both are advertised asking rents from broad searches rather than a confirmed rent for this flat. A reliable BTL yield cannot therefore be established. The approximately 41-year lease, unknown service charge and ground rent, renovation requirement and possible seller fees require investigation before purchase.

Flip Analysis

The latest same-address sale supports a £295,000 base GDV, with supplied same-address evidence ranging from £191,000 to £340,000. A flip surplus cannot be calculated because refurbishment costs, seller fees and other project costs are not provided. The approximately 40 years 7 months remaining lease is a material resale consideration.

Investor Risks & Due Diligence

• Approximately 40 years 7 months to 41 years remain on the lease.

• Annual service charge, ground rent, review period and increases are unknown.

• The flat requires renovation but no verified works scope or cost is supplied.

• Additional seller fees may be payable under the special conditions.

• Rental evidence consists of broad advertised asking rents and ranges from £580 to £2,125 pcm.

• Same-address sold prices vary materially from £191,000 to £340,000, with the reasons for the variation unprovided.

Recommendation

Do not bid on the current evidence alone. First obtain the special conditions, full lease and management information, confirm service charge and ground rent liabilities, obtain a lease-extension assessment and price a detailed renovation. Proceed only if the resulting total cost leaves a clear margin against a conservatively assessed GDV.

Strategy Rating

Analysis Confidence

There are multiple same-address sold comparables and a stated guide price, but refurbishment costs, lease charges, seller fees, exact lease details and property-specific achieved rent are unavailable. The rental evidence is broad asking-rent data with a substantial range.