Flat 2, Bethany Lodge, 1 Devonshire Road, Bexleyheath

Description

A two bedroom ground floor flat. Benefitting from a parking space. In need of modernisation. Vacant.

Accommodation

Ground Floor - Kitchen/Lounge, Two Bedrooms, Ensuite, Bathroom, Storage room

Location

Located on Devonshire Road, accessed off Broadway and Standard Road. Local amenities are available along Park View Road. The property is in proximity to various recreational amenities including green spaces such as Danson Park and Bexleyheath Golf Course. Transport links via Bexleyheath and access to the A2. Transport Bexleyheath - Thameslink, southeastern.

Tenure / Property Information

Investment Analysis

The strongest evidence is five recorded sales at Bethany Lodge, 1 Devonshire Road, at £200,000, including a sale dated 2 June 2026. The £295,000 Louise Court sale is a less direct comparable. A base GDV of £200,000 is therefore used, but the evidence does not support a reliable range beyond that figure. The £185,000 guide is before buyer fees, VAT where applicable and any seller charges.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let or value-add hold at the guide, subject to inspection, leasehold information, confirmed fees and achievable rent. Do not bid on the apparent margin alone; set a maximum bid only after obtaining refurbishment and leasehold costs.

Works Required

Modernisation is required, but the supplied evidence does not identify the specific works or their cost. Obtain a full inspection and confirm the scope before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £200,000 base GDV, a 75% refinance is approximately £150,000. The purchase, refurbishment and total project cost cannot be calculated because refurbishment costs, buyer fees, VAT and leasehold charges are unavailable. Cash left in therefore cannot be reliably estimated.

Buy-to-Let Analysis

At the £185,000 guide, the advertised rent evidence of £1,700–£1,750 pcm implies a gross yield of approximately 11.0%–11.4% before buyer costs, leasehold costs, finance, voids, maintenance and management. These are asking rents rather than achieved rents, and service charge and ground rent are not supplied, so net profitability cannot be established.

Flip Analysis

The evidence supports a base resale value of approximately £200,000, against the £185,000 guide before fees and modernisation. A flip surplus cannot be calculated because refurbishment costs, buyer costs, selling costs and any VAT are unsupported. The apparent £15,000 gross headroom is not a reliable profit measure.

Investor Risks & Due Diligence

• The flat is described as needing modernisation, but the scope and cost of works are unknown.

• Buyer premium, VAT and potential seller charges are not quantified.

• Leasehold service charge, ground rent and other lease terms are not supplied.

• Rental figures are advertised asking rents, not achieved or passing rents.

• The £200,000 comparable sales are for the building/address and may not confirm the exact condition or specification of Flat 2.

• A 75% refinance assumption may not be available at the stated GDV or may be affected by lender valuation and leasehold criteria.

Recommendation

Potential buy-to-let or value-add hold at the guide, subject to inspection, leasehold information, confirmed fees and achievable rent. Do not bid on the apparent margin alone; set a maximum bid only after obtaining refurbishment and leasehold costs.

Strategy Rating

Analysis Confidence

There is strong same-building sold-price evidence and two advertised rent references, but refurbishment costs, buyer and seller charges, VAT, service charge, ground rent, achieved rent and selling costs are missing.