Flat 4 Meridian House, Marketfield Road, Redhill, RH1 1UE

Description

Two bedroom first floor flat. Presented in clean decorative order. Well located for Redhill town centre. Vacant. A two bedroom first floor flat. In need of modernisation. Vacant.

Accommodation

First Floor - Entrance Hallway, Open Plan Reception Room/Kitchen, Two Bedrooms, Bathroom/WC.

Location

The property is centrally situated in Redhill, close to a wide range of shops, restaurants and local amenities, including The Belfry Shopping Centre. Redhill railway station is within easy walking distance, providing regular services to London and surrounding areas. The A23 and M25 provide convenient road connections throughout Surrey and beyond. Transport Redhill - GWR, Southern, Thameslink.

Tenure / Property Information

Investment Analysis

Same-building completed sales provide the only valuation evidence: £130,000 and £140,000 on 11 August 2025, plus older 2018 sales at £215,000–£245,000. The 2018 evidence is stale and may not be comparable. A cautious evidence-based GDV range is £130,000–£140,000, with £135,000 as the base estimate, subject to confirmation that the comparables are similar two-bedroom flats and that lease, service-charge and condition factors are acceptable.

Investment Snapshot

Strategy Recommendation

Potential value-led purchase or resale project only if legal, lease, service-charge, auction-fee and condition due diligence confirms the apparent discount. Do not rely on the headline spread until total costs and works are established.

Works Required

Modernisation of the flat as required, but the evidence is contradictory: it describes both clean decorative order and a need for modernisation. No specific defects, scope, contractor costs or refurbishment budget are supplied, so no works allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, 75% refinancing equates to £101,250. However, refurbishment cost, acquisition charges, rent, finance costs and the buyer premium are unavailable, so cash required and BRRR viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Buyer premium, VAT position, seller charges and other acquisition costs are also unknown.

Flip Analysis

The guide is £80,000 against an evidence-supported base GDV of £135,000, but refurbishment scope and all auction-related purchase charges are unknown. A resale surplus cannot be calculated without a supported works allowance and selling-cost allowance.

Investor Risks & Due Diligence

• The supplied description is internally inconsistent on decorative condition and modernisation requirements.

• No specific rental evidence is available, preventing reliable BTL yield analysis.

• Buyer premium, VAT, seller charges and other acquisition costs are not provided.

• No council tax, parking or heating information is supplied.

• Comparable sales do not include sufficient detail to confirm they are directly comparable two-bedroom flats.

• Leasehold service charges, ground rent and other lease terms are not provided.

• Refurbishment costs and scope are not evidenced.

Recommendation

Potential value-led purchase or resale project only if legal, lease, service-charge, auction-fee and condition due diligence confirms the apparent discount. Do not rely on the headline spread until total costs and works are established.

Strategy Rating

Analysis Confidence

Same-building 2025 completed sales support a cautious GDV range, but bedroom-level comparability, condition, lease costs, rent, refurbishment costs and auction charges are not evidenced.