Flat A, 74 Ham Park Road, Forest Gate, London

Description

One bedroom split level maisonette benefiting from a rear garden, well located for the amenities of Forest Gate and West Ham Park, in need of modernisation, and vacant.

Accommodation

Lower Ground Floor - Reception Room, Kitchen, Bathroom/WC; Ground Floor - Bedroom

Location

Situated in a residential area of Forest Gate, East London, with local shops, supermarkets and everyday amenities nearby. Conveniently located for West Ham Park. Forest Gate railway station is approximately 0.6 miles away, providing Elizabeth line services, while Upton Park Underground station is also within easy reach.

Tenure / Property Information

Investment Analysis

The property is a vacant one-bedroom split-level leasehold maisonette requiring modernisation, with a new 990-year lease to be granted on completion. The only supplied comparables are two transactions for 68A Ham Park Road at £195,000 in July 2023 and £280,000 in October 2024. Although the same-road evidence is relevant, the supplied data does not confirm their size, condition, lease terms, gardens or exact comparability. A reliable GDV, refurbishment budget or maximum bid cannot therefore be established. The £165,000 guide excludes the buyer's fee, VAT where applicable and potentially other seller charges.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Proceed only after verifying the new lease, special conditions and all fees, inspecting the property and obtaining detailed refurbishment, valuation and rental evidence.

Works Required

Modernisation is required, but the evidence does not specify the scope or condition of individual elements. Obtain a full inspection and cost kitchen, bathroom, decoration, flooring and other necessary works only where confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because the refurbishment cost, supported post-works GDV, rent and total acquisition costs are unavailable. The new 990-year lease is positive in principle, but lease terms and costs remain unverified.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield cannot be established. The vacant status means there is no passing rent to underwrite.

Flip Analysis

A flip assessment cannot be completed reliably. The two same-road sales provide a broad £195,000–£280,000 reference range, but comparability and condition are unconfirmed; refurbishment costs, resale allowance and buyer/seller charges are also unavailable.

Investor Risks & Due Diligence

• Unquantified modernisation works and condition risk.

• Buyer premium, VAT and possible seller charges are not supplied.

• The two sold comparables may not be directly comparable in size, condition, lease terms or garden provision.

• No supported rental evidence or passing rent is available.

• The new 990-year lease and its detailed terms remain unverified.

• Vacant property provides no existing rental income.

Recommendation

Do not bid on the supplied evidence alone. Proceed only after verifying the new lease, special conditions and all fees, inspecting the property and obtaining detailed refurbishment, valuation and rental evidence.

Strategy Rating

Analysis Confidence

Evidence confirms the basic property description, guide price, tenure and vacancy, but lacks detailed condition, lease terms, fees, rent, EPC, costs and sufficiently comparable valuation evidence.