Flat 53 Longitude Apartments, 7 Addiscombe Grove, Croydon, Surrey, CR0 5BS

Description

A Vacant First Floor Two Bedroom Flat. The property comprises a first floor two bedroom flat situated within a purpose built block arranged over ground and four upper floors. The property benefits from lift access.

Accommodation

First Floor: Reception Room with Open-Plan Kitchen; Two Bedrooms; Bathroom. Exterior: private balcony.

Location

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

Tenure / Property Information

Investment Analysis

Recent completed sales in the same building were £182,650 and £197,000 on 12 April 2024. Older sales range from £86,250 to £380,000, indicating substantial variation and no evidence matching this specific flat's size, floor, condition or outlook. A cautious base GDV of £197,000 is used, with £182,650 as a low scenario and £298,000 as a high scenario based solely on supplied same-address evidence. These are indicative estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Potentially attractive at or near the guide for a value-led purchase, but proceed only after inspecting the flat and reviewing the legal pack, leasehold costs, disbursements and achievable rent. Do not rely on the refinance or flip figures without verified valuation and full project costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any repairs or upgrades identified, but no works cost can be supported from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 guide, the purchase plus the known £1,800 administration charge is £111,800 before any refurbishment, legal, finance, tax, disbursement or other costs. At the £197,000 base GDV, a purely illustrative 75% refinance is £147,750, leaving £35,950 above this limited cost basis. Actual refinanceability and cash extraction are unconfirmed.

Buy-to-Let Analysis

BTL analysis cannot establish rent, gross yield or cash flow because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The vacant status means a letting strategy would require confirmation of achievable rent and all leasehold, finance and operating costs.

Flip Analysis

Using the £197,000 base GDV against the £110,000 guide and known £1,800 administration charge gives a provisional £85,200 surplus before selling costs, finance, tax, legal costs, disbursements, refurbishment and any other leasehold or transaction costs. A formal flip surplus cannot be established because no supported selling allowance or works budget is available.

Investor Risks & Due Diligence

• Same-address sale prices vary substantially and the comparables are not identified by bedroom count, floor, size, condition or exact flat.

• No sufficiently specific rental evidence is available, so BTL yield and cash flow cannot be assessed.

• Condition and refurbishment requirements are not evidenced; the cost calculations therefore exclude works.

• Leasehold service charge, ground rent, remaining legal obligations and other ownership costs are not supplied.

• Additional disbursements may be payable under the legal pack, and finance, tax, legal and selling costs are excluded from the indicative calculations.

• A 75% refinance is illustrative only and is not a confirmed lending outcome or valuation.

Recommendation

Potentially attractive at or near the guide for a value-led purchase, but proceed only after inspecting the flat and reviewing the legal pack, leasehold costs, disbursements and achievable rent. Do not rely on the refinance or flip figures without verified valuation and full project costs.

Strategy Rating

Analysis Confidence

There are two recent same-building completed sales and clear tenure, occupancy and lease information, but no flat-specific comparable details, rental evidence, condition assessment, refurbishment budget, leasehold costs or complete purchaser cost schedule.