Flat 2, 8 Institute Road, Chatham, Kent

Description

Leasehold first floor flat.

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on Institute Road. Shopping amenities can be found locally within Chatham Town Centre. Public transport links are available at Chatham Train Station to the west and Gillingham Train Station to the north east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A2 to the south east and M2 to the south. Recreational pursuits can be found at Gillingham Park to the east.

Tenure / Property Information

Investment Analysis

Evidence is insufficient to establish a reliable GDV. The supplied completed sales range from £83,500 to £140,000, including two sales recorded at 8 Institute Road but without confirmation that they relate to the same flat, bedroom count, condition or specification. The £140,000 2023 sale is materially above the other supplied Institute Road evidence and cannot safely be adopted as a valuation. No rental evidence or auctioneer rent estimate is provided.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Only reconsider after confirming the exact flat-specific comparable evidence, lease terms, service charge, ground rent, legal special conditions, condition and achievable rent.

Works Required

No specific works can be established from the evidence. The flat is EPC E, but no defects, condition details, heating information or specification of required improvements are supplied. Obtain a full inspection and review the lease and legal pack before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a reliable GDV, rent, refurbishment budget and confirmed lease costs. The remaining lease term is approximately 83–84 years, which should be reviewed for lending and resale implications.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charge, ground rent and any other lease costs are also unknown, so net investment performance cannot be assessed.

Flip Analysis

A flip appraisal is not supportable. The comparable evidence is inconsistent and does not confirm unit identity, condition or specification. No refurbishment budget or selling-cost allowance is available, and additional seller fees may apply.

Investor Risks & Due Diligence

• The lease has approximately 83–84 years remaining and may affect mortgageability, resale and value.

• Annual service charge and ground rent are unknown, including the review and increase provisions.

• No reliable property-specific rental evidence is supplied.

• The completed sales evidence is materially inconsistent and does not confirm comparable flat identity, condition or specification.

• The property is EPC E; the extent and cost of any improvement works are unknown.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Heating information is not supplied.

• The £1,800 inclusive-of-VAT contract documentation fee is payable by the buyer.

Recommendation

Do not bid on the current evidence alone. Only reconsider after confirming the exact flat-specific comparable evidence, lease terms, service charge, ground rent, legal special conditions, condition and achievable rent.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, tenure, basic accommodation and several completed sales, but lacks verified unit-matched comparables, condition, rental evidence, lease costs, heating details and full auction charges.