Flat 45, Coral Apartments, 17, Western Gateway, LONDON, London

Description

Upon Instruction of Countrywide. Leasehold purpose built flat.

Accommodation

Principal bedroom with en-suite, two further bedrooms, reception room open plan to kitchen, bathroom/wc

Location

The property is located on Western Gateway. Shopping amenities are available locally within Canning Town, with a further range of shops, bars and restaurants found in Woolwich to the south and Central London to the west. Public transport links are available at Royal Victoria Station (DLR Services) to the north and Canning Town London Underground Station (Jubilee Line) to the north west, along with local bus services. Road links include the A1011 to the west and the A13 to the north. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

The four more recent same-building sales supplied range from £445,000 to £590,000, with a simple average of approximately £526,000. A rounded base GDV of £530,000 is used, with £490,000 low and £590,000 high scenarios. The £920,000 2024 sale is treated as an outlier because the evidence does not provide unit size, floor, specification or view details for comparison. The subject flat's exact size, condition and unit-specific attributes are not supplied.

Investment Snapshot

Strategy Recommendation

Conditional BTL/BRRR consideration at or near the guide, subject to confirming the exact flat's comparables, condition, lease documentation, service charge, ground rent and all special-condition fees. Do not rely on the apparent equity or refinance outcome until these are verified.

Works Required

No refurbishment works are evidenced in the supplied particulars. Allow for inspection, cleaning and any required repairs only after viewing and reviewing the legal pack; no numeric works allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the base purchase cost including the known administration fee is £401,800 before any works or unknown seller charges. A 75% refinance against the £530,000 base GDV indicates £397,500, leaving approximately £4,300 of the stated base cost unrecovered before finance, tax and other costs. This is highly dependent on the actual valuation, lease terms, service charge, condition and lender assessment.

Buy-to-Let Analysis

Using the £1,500 pcm advertised asking rent from the same building, annual gross rent is £18,000. This indicates approximately 4.50% gross yield at the £400,000 guide and 4.48% against the £401,800 purchase cost plus the known £1,800 administration fee. Net yield cannot be established because service charge, ground rent, finance costs, management, maintenance and other completion fees are unknown. The rent is advertised, not achieved.

Flip Analysis

The base GDV of £530,000 less the £401,800 base acquisition cost implies £128,200 before selling costs, finance, tax, refurbishment and unknown seller charges. A formal flip surplus cannot be calculated because no supported selling allowance or refurbishment budget is available. The broad range of same-building sales also creates valuation uncertainty.

Investor Risks & Due Diligence

• Same-building sale prices vary materially from £445,000 to £590,000 in the more recent evidence, and the supplied records do not identify unit-specific characteristics.

• The £1,500 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Annual service charge and ground rent are unknown, preventing reliable net-yield analysis.

• The seller may charge additional completion fees under the special conditions, but the amount is not supplied.

• The flat's exact internal area, condition, parking provision and heating details are not supplied.

• Council Tax Band G represents a potentially significant ongoing holding cost, but the actual annual charge is not supplied.

• The legal pack and lease should be checked for restrictions, repair obligations and other lease terms despite the stated 131 years remaining.

Recommendation

Conditional BTL/BRRR consideration at or near the guide, subject to confirming the exact flat's comparables, condition, lease documentation, service charge, ground rent and all special-condition fees. Do not rely on the apparent equity or refinance outcome until these are verified.

Strategy Rating

Analysis Confidence

Same-building sales and one advertised same-building rent are available, but unit sizes, condition, exact comparability, service charge, ground rent, parking, legal-pack costs and seller fees are not supplied.