Flat 6 Courier House, Ewen Crescent, Tulse Hill, London, SW2 2PN

Description

A Ground and First Floor Three/Four Bedroom Split Level Flat Subject to Individual Tenancies Part Let Producing £27,600 Per Annum. The property comprises a ground and first floor four bedroom split level flat situated within a purpose built building arranged over ground and three upper floors.

Accommodation

Ground Floor: Kitchen, Room, Shower Room. First Floor: Three Bedrooms, Shower Room.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Brockwell Park are within easy reach. Transport links are provided by Tulse Hill rail station.

Tenure / Property Information

Investment Analysis

Same-building Land Registry sales range from £285,000 to £382,500 in 2022, but the unit details and bedroom counts are not supplied, so comparability is limited. An indicative HB range of £285,000–£382,500 is used, with a midpoint base GDV of £333,750. The approximately 84-year lease and part-let status require verification.

Investment Snapshot

Strategy Recommendation

Conditional income-led purchase only if the tenancies, £27,600 annual income, lease and legal pack are verified. Do not rely on a flip or BRRR strategy without a confirmed valuation, cost plan and lender assessment.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the property and verify the legal pack, tenancy documentation, lease, compliance and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base indicative GDV of £333,750, a 75% refinance is approximately £250,312.50. This is below the £261,800 guide plus stated £1,800 administration charge, before works and other costs, so full capital recycling is not demonstrated. The lease term, tenancy position, valuation and lender acceptability require confirmation.

Buy-to-Let Analysis

The stated income is £27,600 per annum, equivalent to £2,300 pcm, producing an indicative 10.62% gross yield against the £260,000 guide. This is based on a part-let property with individual tenancies, not achieved external rental comparables. Net yield and yield on total project cost cannot be established because works, disbursements and other acquisition costs are unknown.

Flip Analysis

The indicative GDV range is supported only by older, non-unit-specific same-building sales. At the base GDV, the guide plus the stated administration charge leaves £71,950 before works, selling costs, finance, disbursements and tax, but no reliable flip surplus can be calculated because total project costs and selling allowances are incomplete.

Investor Risks & Due Diligence

• Approximately 84 years remain on the lease, which may affect value, mortgageability and future extension costs.

• The property is part let and subject to individual tenancies; tenancy terms, compliance and actual rent collection require verification.

• Same-building comparable sales are from 2022 and do not identify the comparable units or bedroom configurations.

• No condition survey or refurbishment cost evidence is supplied.

• Auction disbursements and other legal-pack charges may be payable in addition to the stated £1,800 administration charge.

• No buyer premium, EPC, council tax or heating information is supplied.

Recommendation

Conditional income-led purchase only if the tenancies, £27,600 annual income, lease and legal pack are verified. Do not rely on a flip or BRRR strategy without a confirmed valuation, cost plan and lender assessment.

Strategy Rating

Analysis Confidence

The guide, stated income, lease term and same-building completed sales are available, but there are no specific rental comparables, condition evidence, EPC, detailed tenancy information, buyer premium, refurbishment costs or complete legal-pack costs.