Flat 24, 341A London Road, Mitcham, Surrey, CR4 4BE

Description

A third floor one bedroom flat situated within a purpose built building arranged over ground and four upper floors.

Accommodation

Third Floor: Open Plan Reception/Kitchen; Bedroom; Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Morden Hall Park are within easy reach. Transport links are provided by Tooting rail station.

Tenure / Property Information

Investment Analysis

The most relevant evidence is a £216,000 leasehold flat sale recorded at 341A London Road in April 2026, with a further £210,000 leasehold flat sale at nearby 337 London Road in July 2025. The £275,000–£350,000 sales at 341D are not sufficiently detailed to confirm size, layout or comparability. A cautious base GDV of £216,000 is therefore used, subject to confirming that the comparable is genuinely similar to Flat 24.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the exact comparable, leasehold costs and legal pack. The guide appears to provide a potential gross value margin, but the absence of rent, condition, service charge and full fee information makes this unsuitable for a firm BTL or flip bid decision.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, legal review of the lease and only any works identified during viewing or survey; no works budget is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £216,000 base GDV, a 75% refinance is £162,000. Against the £163,500 guide-price acquisition cost including the supplied buyer premium and admin charge, this indicates approximately £1,500 cash still invested before additional auction costs, works, finance and taxes. BRRR viability is therefore highly sensitive to the true GDV and omitted costs.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. At the £160,000 guide, the known buyer premium and admin charge bring the stated acquisition cost to £163,500 before any additional fees, finance, leasehold costs or works.

Flip Analysis

The base GDV of £216,000 is above the £163,500 known guide-price acquisition cost including supplied buyer and admin charges, but no refurbishment budget, selling costs or additional completion costs are evidenced. A reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The £216,000 comparable may not be the same unit or have the same size, condition and specification.

• No rental evidence is available, so rental yield and BTL cash flow cannot be assessed.

• Additional search, seller, legal, transfer and disbursement costs may apply and are not quantified.

• No condition or refurbishment information is supplied.

• Leasehold service charge, ground rent and other lease liabilities are not provided.

• The refinance calculation depends on achieving the estimated £216,000 GDV and excludes finance, valuation and other refinancing costs.

Recommendation

Proceed only after confirming the exact comparable, leasehold costs and legal pack. The guide appears to provide a potential gross value margin, but the absence of rent, condition, service charge and full fee information makes this unsuitable for a firm BTL or flip bid decision.

Strategy Rating

Analysis Confidence

There is useful lease information, a stated guide and several completed sales, but the exact comparability of the sales, property condition, rent, service charge, ground rent and additional auction costs are not supplied.