Flat 22 Selwyn Court, Blackheath Village, London

Description

A first floor flat approximately 700 sq feet. In need of modernisation.

Accommodation

First floor - Entrance hallway, Reception room, Kitchen, Two bedrooms, Bathroom seperate WC

Location

The property is located near to the junction of Lawn Terrace and Lee Terrace. Shopping amenities are available nearby in the centre of Blackheath Village. Recreational amenities of Greenwich Park and Blackheath Park. Transport National Rail - Blackheath.

Tenure / Property Information

Investment Analysis

The supplied completed sales for Selwyn Court range from £450,000 to £518,500, with the two latest sales at £500,000 and £518,500. A base GDV of £500,000 is used as an indicative estimate, subject to comparability, condition and lease-length verification. The £230,000 guide is materially below these sales, but the approximately 50-year lease, required modernisation, unknown service charge and unknown auction costs materially affect value and viability.

Investment Snapshot

Strategy Recommendation

Proceed only subject to full legal review, lease and service-charge information, a condition survey and confirmed auction costs. Do not rely on the apparent GDV margin until the short lease and refurbishment budget are verified.

Works Required

Modernisation is required, but the evidence provides no itemised condition schedule or cost allowance. A survey and lease/service-charge review are required before specifying or pricing works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £500,000 base GDV, 75% refinancing equates to £375,000. However, refurbishment cost, buyer/admin fees, VAT and other acquisition costs are unknown, so total project cost, cash left in and equity cannot be calculated. Lease extensionability and lender acceptability require confirmation.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The only rental evidence is an £800 pcm London-wide advertised asking rent and is not sufficiently property-specific. No service charge, ground rent, council tax, EPC, finance cost or management cost is supplied. The short approximately 50-year lease is also a material lending and resale consideration.

Flip Analysis

The supplied comparable sales suggest an indicative resale range of £450,000 to £518,500, with £500,000 used as the base GDV. A flip surplus cannot be calculated because modernisation costs, buyer fees, VAT, seller charges and selling costs are not provided. The approximately 50-year lease may constrain resale value and buyer finance.

Investor Risks & Due Diligence

• Approximately 50 years remain on the lease, with no lease-extension terms or cost supplied.

• The flat requires modernisation, but the scope and cost of works are unknown.

• Buyer premium, VAT and any seller or other auction charges are not quantified.

• The sold comparables do not include size, condition or remaining lease terms, so their comparability is unverified.

• The £800 pcm rental evidence is a broad London asking-rent listing rather than a property-specific achieved or passing rent.

• Service charge, ground rent, council tax, EPC, heating and parking information are not supplied.

Recommendation

Proceed only subject to full legal review, lease and service-charge information, a condition survey and confirmed auction costs. Do not rely on the apparent GDV margin until the short lease and refurbishment budget are verified.

Strategy Rating

Analysis Confidence

Completed sales and the guide price are supplied, but there is no itemised refurbishment budget, property-specific rent, lease charges, EPC, buyer fee, VAT position, seller charges or detailed comparable specification.