Flat 92 Sleaford House, Fern Street, Tower Hamlets, London, E3 3PZ

Description

A Vacant Seventeenth and Eighteenth Floor Three Bedroom Split Level Flat in Need of Refurbishment. The property comprises a seventeenth and eighteenth floor three bedroom split level flat situated within a purpose built block arranged over ground and nineteen upper floors.

Accommodation

Seventeenth Floor: Reception Room with Open-Plan Kitchen; Bedroom. Eighteenth Floor: Two Bedrooms; Bathroom; Separate W/C.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Bartlett Park are within easy reach. Transport links are provided by Bromley-by-Bow underground station (Circle line) and Limehouse rail station.

Tenure / Property Information

Investment Analysis

Completed sales at the same address range from £194,444 to £390,000. The £200,000 December 2024 sale provides a reasonable working base, but the evidence does not identify comparable flat sizes, condition or exact units. The £390,000 sale creates a wide and uncertain upper scenario. Guide price plus the known admin charge is £121,800 before refurbishment and other special-condition charges.

Investment Snapshot

Strategy Recommendation

Undertake legal-pack, lease and condition due diligence before bidding. Proceed only if refurbishment and all special-condition costs support a conservative resale value near the lower comparable range.

Works Required

Refurbishment of the open-plan kitchen/reception area, three bedrooms, bathroom and separate WC, subject to inspection and the legal pack. No specific defects or costs are supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the £200,000 working GDV is £150,000. Refurbishment costs, full acquisition costs, rent and finance assumptions are unavailable, so cash left in and viability cannot be calculated.

Buy-to-Let Analysis

The flat is vacant and a new 125-year lease is stated. No sufficiently specific rental evidence or auctioneer rent estimate is provided, so rent and gross yield cannot be established.

Flip Analysis

A resale range is indicated by same-address completed sales, but refurbishment cost, selling costs and comparable unit details are unavailable. Flip surplus cannot be calculated reliably.

Investor Risks & Due Diligence

• Wide variation in same-address completed sale prices.

• Unknown refurbishment scope and cost.

• No reliable rental evidence, preventing yield assessment.

• Additional special-condition charges are unspecified.

• Leasehold costs and obligations, including any service charge, are not supplied.

Recommendation

Undertake legal-pack, lease and condition due diligence before bidding. Proceed only if refurbishment and all special-condition costs support a conservative resale value near the lower comparable range.

Strategy Rating

Analysis Confidence

Same-address completed sales are available, but unit comparability, refurbishment costs, rent, service-charge information and several purchase charges are missing.