Flat 40 Burlescombe House, 29 Burrage Road, Redhill, Surrey, RH1 1TL

Description

Third floor flat within a purpose-built block of apartments comprising living room, kitchen, 2 bedrooms (one with en-suite) and a separate bathroom. The property benefits from an allocated car port.

Accommodation

Lounge: 4.08 x 3.74m; Kitchen: 2.53 x 1.62m; Bedroom 1: 3.75 x 2.94m with en-suite: 1.71 x 1.15m; Bedroom 2: 3.58 x 2.49m; Bathroom: 2.49 x 1.69m. Total floor area: 61.34 sq.m.

Location

Located close to Redhill town centre, with The Belfry Shopping Centre nearby providing coffee shops, cafes and High Street retailers. Redhill train station is approximately 1.2 miles away. What3Words: piano.locker.during.

Tenure / Property Information

Investment Analysis

The supplied completed sales are for the same apartment block but do not identify the individual flats, sizes, condition or parking arrangements. They range from £230,000 in December 2025 to £265,000 in June 2022, with an £81,000 sale in August 2024 that may reflect circumstances not evidenced here. A cautious evidence-based GDV range is £230,000–£265,000, with £230,000 used as the base case because it is the latest supplied comparable. This is not a formal valuation. The auction guide is £91,000, but the valuation discount cannot be attributed reliably without the legal pack, condition and sale circumstances.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. First obtain and review the legal pack, confirm the applicable buyer premium, all additional charges, service charge and arrears, lease restrictions, ground-rent terms, condition and achievable rent. Reassess as a potential value-led purchase only if those checks support the block-level valuation evidence.

Works Required

No refurbishment works are evidenced. Verify condition, fixtures, common parts, service-charge position and any leasehold or legal-pack requirements before bidding. No works allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £91,000 guide, the known buyer premium is either £1,680 including VAT under the special conditions or £1,500 including VAT in the buyer-premium section, while the administration charge is at least £1,750 including VAT. These discrepancies and other possible legal, search, seller-cost and transfer charges require resolution. A 75% refinance against the £230,000 base GDV would be £172,500, but cash-left-in cannot be calculated because refurbishment, full acquisition costs and finance costs are unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The current ground rent is £500 per annum and doubles every 10 years; service charge, other outgoings and any tenancy restrictions are not provided. Do not rely on a yield calculation until rent and lease terms are verified.

Flip Analysis

The supplied block-level sales indicate a possible resale value between £230,000 and £265,000, but the comparables are not flat-specific and no selling-cost allowance, refurbishment budget or full acquisition-cost schedule is supplied. A reliable flip surplus and maximum bid therefore cannot be calculated. The apparent spread from the guide should not be treated as profit.

Investor Risks & Due Diligence

• The sold comparables are for the building rather than demonstrably this flat and may differ in size, condition, parking and sale circumstances.

• No sufficiently specific rental evidence is supplied, so rental income and yield cannot be established.

• Ground rent is currently £500 per annum and doubles every 10 years.

• Service charge, arrears and other leasehold outgoings are not provided.

• The buyer premium is inconsistent: £1,680 in the special conditions versus £1,500 in the buyer-premium section.

• Additional search, seller-cost, legal, transfer and other charges may apply.

• Condition, common-part issues and refurbishment requirements are not evidenced.

• The lease and legal pack may contain restrictions affecting letting, resale or mortgageability.

Recommendation

Do not bid on the current evidence alone. First obtain and review the legal pack, confirm the applicable buyer premium, all additional charges, service charge and arrears, lease restrictions, ground-rent terms, condition and achievable rent. Reassess as a potential value-led purchase only if those checks support the block-level valuation evidence.

Strategy Rating

Analysis Confidence

There are several completed sales in the same block and clear lease and fee information, but the comparables are not flat-specific, rent and service-charge evidence is absent, condition is not evidenced, and acquisition costs conflict or remain unknown.