Flat 5, 1 Borough Hill, Croydon, Surrey

Description

A Vacant First Floor Studio Flat in Need of Modernisation. The property comprises a first floor studio flat situated within a detached building arranged over lower ground, ground and two upper floors.

Accommodation

First Floor: Studio Room; Bathroom. Exterior: The property benefits from an outbuilding.

Location

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

Tenure / Property Information

Investment Analysis

Same-address leasehold flat sales range from £95,000 to £100,000 in 2024–2025, with older sales higher. A base GDV of £100,000 is used, subject to the comparables not being confirmed as the same studio. The property is vacant and requires modernisation, but no refurbishment costs are supplied.

Investment Snapshot

Strategy Recommendation

Investigate as a potential BTL or BRRR purchase only after confirming the comparable flat identity, rent, lease terms, service charges and refurbishment budget. Do not rely on the guide alone.

Works Required

Modernisation of the vacant studio flat, including only works confirmed by the description. The scope and cost require inspection and contractor quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £100,000 base GDV, 75% refinancing indicates £75,000 gross refinance proceeds. The strategy cannot be fully assessed because refurbishment, legal, finance and other acquisition costs are not supplied. Long lease length and vacant possession are supportive, subject to legal-pack review.

Buy-to-Let Analysis

The supplied generic Croydon rental evidence indicates £1,150 pcm, equivalent to £13,800 annually and a 27.6% gross yield on the £50,000 guide. This is an advertised asking rent rather than achieved rent and is not confirmed as specific to this studio. Net yield cannot be established because refurbishment and other ownership costs are unavailable.

Flip Analysis

A £100,000 base GDV is supported by recent same-address sales, with a £95,000–£120,000 evidence range. Flip surplus cannot be calculated because refurbishment costs and selling allowances are unavailable.

Investor Risks & Due Diligence

• Comparables are recorded at the building address and may not be the same studio flat.

• The £1,150 pcm figure is a generic advertised asking rent, not an achieved or property-specific rent.

• Refurbishment costs are unknown despite the stated need for modernisation.

• Buyer premium and other auction/legal-pack costs may apply but are not quantified.

• Service charge, ground rent, council tax and parking information are unavailable.

Recommendation

Investigate as a potential BTL or BRRR purchase only after confirming the comparable flat identity, rent, lease terms, service charges and refurbishment budget. Do not rely on the guide alone.

Strategy Rating

Analysis Confidence

Recent same-address sales and one generic asking-rent benchmark are available, but the comparable identity, property costs, service charges, legal-pack costs and refurbishment budget are unconfirmed.