Flat 41 Ashcroft Place, Epsom Road, Leatherhead, Surrey, KT22 8RJ

Description

A First Floor Two Bedroom Retirement Flat. The property comprises a first floor two bedroom retirement flat situated within a purpose built building arranged over ground and two upper floors. To be eligible to purchase the leasehold interest, you must be aged 60 or over.

Accommodation

First Floor: Reception Room, Kitchen, Two Bedrooms, Two Bathroom.

Location

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

Tenure / Property Information

Investment Analysis

Five supplied completed sales at Ashcroft Place range from £145,000 to £268,000, with a median of £195,000 and an average of £197,800. As the comparables are not identified by flat number, size or exact retirement restrictions, £195,000 is used as the base GDV, with £166,000–£268,000 as an evidence-based low-to-high scenario range. The £130,000+ guide is materially below the median comparable, but the comparison is subject to unknown service charges, transfer fees, resale restrictions and retirement eligibility.

Investment Snapshot

Strategy Recommendation

Consider only as an eligible 60+ owner-occupier purchase after reviewing the lease, service-charge history, resale/transfer restrictions and legal-pack costs. Do not rely on a BTL or flip strategy without verified rent, costs and unit-specific valuation evidence.

Works Required

No refurbishment works are identified in the supplied description; the flat has an EPC rating of B. Obtain a survey and review the legal pack before assigning any works budget, particularly for leasehold and retirement-scheme obligations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £130,000 guide plus the known £1,800 administration charge and no supported works allowance, the indicative base cost is £131,800. A 75% refinance of the £195,000 base GDV is £146,250, implying approximately £14,450 of capital above these stated costs before finance, tax, selling costs and any other charges. Actual refinancing may be affected by retirement-flat lending restrictions, lease terms and service charges.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. In addition, the property can only be purchased by someone aged 60 or over, which may materially restrict the buyer and occupier market. Service charges, ground rent and retirement-management costs are also unknown.

Flip Analysis

The base GDV of £195,000 indicates a gross spread of £63,200 over the guide price and known administration charge, before selling costs, finance, tax, legal costs, service charges and any works. The supplied comparable range is wide and the sales are not matched by flat number or detailed specification, so a reliable net flip surplus cannot be established.

Investor Risks & Due Diligence

• Purchase is restricted to a buyer aged 60 or over.

• No specific rental evidence is available, preventing a supported yield assessment.

• Service charges, ground rent and retirement-management costs are not supplied.

• Transfer fees, seller-cost reimbursements, legal fees, search fees and other disbursements may be payable under the legal pack.

• Comparable sale prices range widely from £145,000 to £268,000 and are not identified by flat number or detailed specification.

• The guide is stated as £130,000+; the eventual purchase price may exceed the figure used in the indicative calculations.

Recommendation

Consider only as an eligible 60+ owner-occupier purchase after reviewing the lease, service-charge history, resale/transfer restrictions and legal-pack costs. Do not rely on a BTL or flip strategy without verified rent, costs and unit-specific valuation evidence.

Strategy Rating

Analysis Confidence

There are five recent completed sales at the same development and a long stated lease, but the comparables are not matched by flat number or specification. Rental, service-charge, ground-rent, occupancy, condition and additional legal-cost evidence is missing.