Flat 6 Bloomfield House, Old Montague Street, Tower Hamlets, London, E1 5PA

Description

A Vacant Ground and First Floor Three Bedroom Split Level Maisonette. The property comprises a ground and first floor three bedroom split level maisonette situated within a purpose built building arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom, Separate WC.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Allen Gardens are within easy reach. Transport links are provided by Whitechapel underground station (Circle and Elizabeth lines) and Liverpool Street rail station.

Tenure / Property Information

Investment Analysis

The supplied evidence includes five completed sales at Bloomfield House ranging from £165,000 to £497,500. The more recent 2022 sales were £282,500 and £497,500, but the evidence does not identify the specific flats, bedroom counts, floor areas, condition or lease terms beyond leasehold tenure. A broad evidence-based scenario range is therefore used, with a midpoint estimate of £390,000; this is not a formal valuation and requires current, unit-specific comparable evidence.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal-pack review, survey and confirmation of current unit-specific value. Do not rely on the broad comparable range to justify a bid or refurbishment strategy.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a survey and inspect the legal pack before allowing for works, service charges, lease obligations or compliance items.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not reliable without confirmed rent, refurbishment costs, service charges, finance costs and a unit-specific valuation. At the midpoint GDV scenario, 75% refinancing would be approximately £292,500, but total project cost and cash required cannot be calculated.

Buy-to-Let Analysis

BTL performance cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The known guide is £330,000 plus the £1,800 administration charge and any other legal-pack disbursements, but works and other ownership costs are unknown.

Flip Analysis

The broad completed-sale evidence supports a £282,500 to £497,500 value scenario, with a midpoint of £390,000. A flip surplus cannot be calculated because refurbishment costs, acquisition costs beyond the known £1,800 administration charge, selling costs and the relevant unit-specific resale value are not sufficiently evidenced.

Investor Risks & Due Diligence

• The supplied same-building sales show a wide price range and do not identify the relevant flat, size, condition or bedroom configuration.

• Approximately 87 years remain on the stated lease, so lease terms and any extension implications require legal review.

• No rental evidence is available, preventing reliable BTL yield analysis.

• No refurbishment scope or cost evidence is supplied.

• The £1,800 administration charge is known, but other buyer costs and legal-pack disbursements may apply.

• The property is vacant, but vacant possession and any access, condition or compliance matters should be verified through inspection and the legal pack.

Recommendation

Proceed only subject to satisfactory legal-pack review, survey and confirmation of current unit-specific value. Do not rely on the broad comparable range to justify a bid or refurbishment strategy.

Strategy Rating

Analysis Confidence

There are several completed sales at the same building and a stated lease term, but the sales are not matched to the subject unit and there is no rental evidence, condition budget, service-charge information, floor area, council tax or full acquisition-cost information.