Flat 4, 25 Thornhill Road, Croydon, Surrey

Description

A Vacant First Floor One Bedroom Flat. The property comprises a first floor one bedroom flat situated within a semi detached building arranged over ground and first floors.

Accommodation

First Floor: Reception Room with Open-Plan Kitchen; Bedroom; Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Wilford Road Recreation Ground are within easy reach. Transport links are provided by West Croydon rail station.

Tenure / Property Information

Investment Analysis

Nearby sold leasehold flats on Thornhill Road range from £215,000 to £255,000. A £238,000 base GDV is used, subject to limited comparability evidence because size, condition and exact specification are not supplied.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a buy-to-let at the guide, subject to legal-pack review, leasehold costs, condition and rent validation. Avoid bidding beyond a separately calculated limit until unknown costs are confirmed.

Works Required

No specific works are evidenced. Confirm condition, compliance and any required works through inspection and the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known admin charge, total cost is £126,800 before any works or additional charges. A 75% refinance of the £238,000 base GDV indicates £178,500, implying £51,700 more than this stated cost before finance, tax and unknown costs.

Buy-to-Let Analysis

Using the £1,500 pcm advertised asking rent, annual rent is £18,000. Gross yield is approximately 14.4% on the £125,000 guide and 14.2% including the known £1,800 admin charge. This excludes unknown service charges, lease costs, finance and other auction fees.

Flip Analysis

The base GDV is £238,000 against the guide and known admin charge, but refurbishment costs, selling costs and additional auction charges are not evidenced. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Approximately 91 years remain on the lease; lease terms and future extension costs require review.

• The £1,500 pcm figure is an advertised asking rent, not achieved rent.

• Condition and refurbishment requirements are not evidenced.

• Service charge, ground rent and other leasehold costs are not supplied.

• Special conditions may create additional legal, search, seller-cost or transfer charges.

• Buyer premium and other auction fees are unknown.

Recommendation

Potentially attractive as a buy-to-let at the guide, subject to legal-pack review, leasehold costs, condition and rent validation. Avoid bidding beyond a separately calculated limit until unknown costs are confirmed.

Strategy Rating

Analysis Confidence

Sold comparables, one advertised rent, lease term and one known charge are supplied, but property size, condition, service charges, ground rent, buyer premium and other costs are missing.