Flat 82 Hewetts Quay 26-32, Abbey Road, Barking, Essex

Description

A Vacant Second Floor Two Bedroom Flat in Need of Modernisation

Accommodation

Second Floor: Reception Room with Open-Plan Kitchen; Two Bedrooms (One with En-Suite); Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Abbey Green are within easy reach. Transport links are provided by Barking underground station (Circle line) and rail station.

Tenure / Property Information

Investment Analysis

Five completed sales at the same Hewetts Quay address range from £230,000 to £275,000. Their average is £256,000, used as the indicative base GDV, but the evidence does not confirm matching floor, size, condition or garage details. The £100,000+ guide is materially below these sales, subject to refurbishment, leasehold and auction costs.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review, leasehold due diligence and firm refurbishment pricing. The guide-to-comparable spread is attractive, but the missing rent and project-cost evidence prevents a reliable bid strategy.

Works Required

Modernisation of the vacant two-bedroom flat, including the open-plan kitchen, bathroom, en-suite and general internal finishes. The scope and cost require inspection and contractor pricing.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £100,000 guide, the indicative 75% refinance of the £256,000 base GDV would be £192,000. However, refurbishment costs, acquisition costs beyond the £1,800 administration fee and refinance criteria are unknown, so cash left in and equity cannot be calculated reliably.

Buy-to-Let Analysis

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

Flip Analysis

The completed-sale evidence supports a broad resale range of £230,000–£275,000, with a £256,000 average. A flip surplus cannot be calculated because refurbishment costs, full acquisition costs and selling costs are not supported.

Investor Risks & Due Diligence

• The flat is vacant and described as needing modernisation, but the work scope and cost are unknown.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• Leasehold charges, restrictions, service charge and ground rent are not supplied.

• Additional legal-pack disbursements and other purchase charges may be payable.

• The completed sales do not confirm matching flat size, floor, condition or garage details.

Recommendation

Proceed only subject to inspection, legal-pack review, leasehold due diligence and firm refurbishment pricing. The guide-to-comparable spread is attractive, but the missing rent and project-cost evidence prevents a reliable bid strategy.

Strategy Rating

Analysis Confidence

Same-address completed sales are available, but comparable property details, refurbishment costs, rental evidence, leasehold charges and total auction costs are incomplete.