Flat B, 32 Lanercost Road, Streatham Hill, SW2 3DN

Description

One bedroom flat on the first floor, in need of modernisation, with a new 125 year lease from completion, peppercorn ground rent and vacant possession.

Accommodation

First Floor - One Bedroom, Reception Room, Kitchen, Shower / WC

Location

Situated a short distance from the junction of Probyn Road. Shopping facilities are available a short distance away on Norwood Road along with a good selection of cafes, bars and restaurants. Recreational facilities can be found at Brockwell Park, Belair Park and Hillside Gardens Park, which are all within easy reach. Nearby road connections are via the A205, A23 and A24. Transport: National Rail Tulse Hill, West Dulwich.

Tenure / Property Information

Investment Analysis

The supplied completed sales are on the same road but provide no bedroom count, floor, size, condition or layout details, and the recorded prices range from £208,000 to £812,000. They are therefore insufficient to establish a reliable GDV for this specific one-bedroom first-floor flat. The £240,000 guide excludes the buyer fee and potentially VAT or seller charges, all of which are unspecified.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain a full inspection, specific one-bedroom comparables, rental evidence, the lease and legal pack, and confirm all buyer, VAT and seller charges before setting a bid limit.

Works Required

Modernisation is required, but the evidence does not define the defects, specification or extent of works. A detailed inspection and contractor scope are required before pricing.

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 post-works value, refurbishment cost, rent and total acquisition costs are unsupported. The new 125-year lease and peppercorn ground rent are favourable stated terms, but they do not provide sufficient valuation or refinance evidence.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Buyer fees, VAT and other possible seller charges are also unknown.

Flip Analysis

A flip appraisal cannot be completed reliably. The same-road sales are not sufficiently specified to support a comparable GDV, while refurbishment costs and selling allowances are unknown. The guide also excludes potentially material transaction charges.

Investor Risks & Due Diligence

• Unknown scope and cost of the stated modernisation.

• No sufficiently specific rental evidence, preventing reliable yield analysis.

• Same-road sold comparables lack size, bedroom, floor, layout and condition details and show a wide price range.

• Buyer fee, VAT applicability and possible seller charges are unspecified.

• EPC rating E may affect future letting or improvement considerations, but upgrade requirements and costs are not supplied.

• Lease is stated to be granted from completion, but the legal terms beyond length and ground rent are not provided.

Recommendation

Do not bid on current evidence alone. Obtain a full inspection, specific one-bedroom comparables, rental evidence, the lease and legal pack, and confirm all buyer, VAT and seller charges before setting a bid limit.

Strategy Rating

Analysis Confidence

The property description and tenure/occupancy information are available, but there is no reliable property-specific GDV, rent, refurbishment cost, fee schedule or detailed comparable evidence.