Flat 237, North Block 1c, Belvedere Road, SOUTH BANK, London, SE1 7GF

Description

Long leasehold fifth floor self-contained flat within a highly sought-after development on the South Bank. By order of the Fixed Charge Receivers.

Accommodation

Fifth floor: One bedroom, reception room, kitchen, bathroom/WC, entrance hallway. Gross Internal Area GIA: Approximately 50 sq m (538 sq ft).

Location

The property is situated on Belvedere Road between its junctions with York Road, Westminster Bridge Road and Chicheley Street. Public transport links include London Waterloo Mainline Rail Station, local bus services, and London Underground services from Waterloo and Westminster Stations. Road links include the A302 and the A3211 Victoria Embankment. Shopping amenities are available locally within South Bank and Waterloo, with further shops, bars and restaurants in Covent Garden, the South Bank and Central London. Recreational pursuits include Jubilee Gardens and the South Bank riverside walk.

Tenure / Property Information

Investment Analysis

Same-development HM Land Registry evidence ranges from £375,000 to £647,000 across five leasehold flat sales, with a median of £575,000. The sales lack flat-specific bedroom, floor, size and condition details, so £575,000 is an indicative base GDV rather than a formal valuation. The £410,000 guide is below the observed comparable range, but service charge, ground rent, parking and special-condition liabilities remain unverified. The known buyer documentation fee is £1,800 inclusive of VAT.

Investment Snapshot

Strategy Recommendation

Proceed only after verifying the leasehold information, service charge, ground rent, parking position, special conditions and flat condition. The guide appears potentially attractive against same-development sales, but the evidence is insufficient for a firm bid or strategy recommendation.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain inspection and leasehold information before budgeting; only property-specific works supported by further evidence should be allowed for.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £410,000 guide, the purchase is below the £575,000 indicative base GDV, but refurbishment cost, service charge, ground rent, finance costs and completion liabilities are unquantified. A 75% refinance against the base GDV would be approximately £431,250, but cash left in cannot be calculated without total project cost.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is provided. Service charge and ground rent are also unknown, preventing reliable net-cost assessment.

Flip Analysis

The indicative gross value spread is £375,000 to £647,000, with a £575,000 base. A flip surplus cannot be calculated because works, selling costs, finance costs and any seller-charged completion fees are not evidenced. The £1,800 buyer documentation fee is known.

Investor Risks & Due Diligence

• Same-development comparable details do not confirm that the sold flats match this 50 sq m one-bedroom fifth-floor flat.

• Annual service charge, ground rent and review provisions are undisclosed.

• No sufficiently specific rental evidence is available.

• Parking and heating details are undisclosed.

• The seller may charge additional completion fees under the special conditions.

• Refurbishment, condition and finance costs are unquantified.

• Council Tax Band G may affect owner and letting costs, although no financial allowance is provided.

Recommendation

Proceed only after verifying the leasehold information, service charge, ground rent, parking position, special conditions and flat condition. The guide appears potentially attractive against same-development sales, but the evidence is insufficient for a firm bid or strategy recommendation.

Strategy Rating

Analysis Confidence

There are five same-development completed sales and a stated guide, but the comparables are not matched by flat size, bedroom count, floor, condition or transaction context. Rent, service charge, ground rent, condition, selling costs and special-condition fees are incomplete.