Flat 6 Charles Auffray House, Smithy Street, London, E1 3HN

Description

RESIDENTIAL INVESTMENT: VACANT TWO BEDROOM MAISONETTE WITH OWN GARDEN IN NEED OF REFURBISHMENT LOCATED CLOSE TO WHITECHAPEL TUBE STATION. A vacant two bedroom maisonette set on the ground and first floors with separate kitchen, spacious lounge leading to private garden, two double bedrooms and bathroom with a separate WC.

Accommodation

Entrance Hall; Kitchen - 10'2 x 9'3; Lounge - 14'3 x 12'8; First Floor Landing; Bedroom One - 11'7 x 11'1; Bedroom Two - 12'10 x 9'0; Bathroom; Separate WC

Location

Located close to Stepney, Shadwell and Whitechapel stations offering good transport links with easy access into The City, Central London and Docklands.

Tenure / Property Information

Investment Analysis

Completed sales at the same development range from £360,000 to £375,000 in 2022–2023, with older sales from £200,000 to £390,000. A base GDV of £375,000 is supported by the most recent comparable, but condition and refurbishment costs are unknown.

Investment Snapshot

Strategy Recommendation

Conditional refurbishment-led resale or investment purchase only after a full inspection, lease review and confirmation of all auction fees and works costs. Do not treat the guide as a maximum bid.

Works Required

Refurbishment is required, but the evidence does not specify the defects or scope. Inspect and price all required works before bidding, including the kitchen, bathroom, decoration and general condition.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £375,000 base GDV, 75% refinancing equates to £281,250. A cash-left-in calculation cannot be completed because refurbishment costs and buyer fees are unspecified.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. Refurbishment costs, service charges and other ownership costs are also unknown.

Flip Analysis

The guide is £280,000, against a same-development completed sale of £375,000 in 2023. However, the refurbishment allowance, auction fees and selling costs are unknown, so the resale surplus cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• No sufficiently specific rental evidence is available.

• Buyer, administration and other auction fees are unspecified.

• The lease has approximately 87 years remaining.

• EPC, council tax, parking and heating information are not supplied.

Recommendation

Conditional refurbishment-led resale or investment purchase only after a full inspection, lease review and confirmation of all auction fees and works costs. Do not treat the guide as a maximum bid.

Strategy Rating

Analysis Confidence

Same-development sold comparables support the GDV range, but refurbishment scope, rent, fees, service charges, EPC and other property costs are not supplied.