Flat 31 (Third Floor Flat), Cardinal Place, Guildford Road, Woking, Surrey

Description

Long leasehold third floor flat

Accommodation

Principal bedroom with en-suite, one further bedroom, reception room, kitchen, bathroom/WC

Location

Cardinal Place is located on Guildford Road (A320). Shopping amenities are available locally within Woking Town Centre. Public transport links can be found at Woking Train Station to the north east, along with local bus services serving the surrounding areas. The property is served by road links including the A320 and A324 to the north. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Recent completed sales at Cardinal Place were £310,000, £317,000 and £320,000 between April 2024 and March 2025. As bedroom count, specification and condition of those comparables are not provided, a cautious evidence-based GDV range is £310,000–£320,000, with £315,000 as the base case. Older sales at £172,000 and £220,000 are less representative due to their dates and the absence of further detail.

Investment Snapshot

Strategy Recommendation

Investigate the legal pack and obtain confirmed service charge, ground rent, parking, condition and rental evidence before bidding. Subject to satisfactory verification, the large indicated discount to recent same-development sales makes a value-led resale or refinance strategy more supportable than BTL, which cannot currently be underwritten.

Works Required

No specific defects or refurbishment requirements are evidenced. Verify condition, lease terms, service charge, ground rent, parking, heating and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £155,000 guide, plus the £1,800 known administration charge and no quantified works allowance, the indicative base cost is £156,800. A 75% refinance of the £315,000 base GDV is £236,250, implying £79,450 of indicative cash released before finance costs, tax, valuation, lender fees and any unknown charges. This is highly dependent on achievable valuation and mortgageability.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Service charge, ground rent and any seller-charged completion fees are also unknown. The base acquisition calculation uses the £155,000 guide plus the known £1,800 contract documentation fee only.

Flip Analysis

Using the £315,000 base GDV against the £156,800 base cost indicates £158,200 before selling costs, finance, tax, refurbishment and unknown seller fees. A net flip surplus cannot be calculated because no supported selling-cost allowance or refurbishment budget is provided. The comparable specification and condition remain unverified.

Investor Risks & Due Diligence

• Annual service charge and ground rent are unknown.

• The listing states both a 300-year lease from 01/06/2011 and 983 years remaining, which requires legal verification.

• No sufficiently specific rental evidence is available.

• Property condition and any refurbishment requirement are not evidenced.

• Parking and heating arrangements are unknown.

• Additional seller-charged completion fees may apply under the Special Conditions of Sale.

• The comparable sales do not provide bedroom, specification or condition details.

Recommendation

Investigate the legal pack and obtain confirmed service charge, ground rent, parking, condition and rental evidence before bidding. Subject to satisfactory verification, the large indicated discount to recent same-development sales makes a value-led resale or refinance strategy more supportable than BTL, which cannot currently be underwritten.

Strategy Rating

Analysis Confidence

Recent same-development sold evidence supports the GDV range, but comparable specifications, property condition, rental evidence, lease charges, parking, heating and possible seller fees are incomplete or unknown. The lease term information is also internally inconsistent.