Flat B, 69, Wrottesley Road, Woolwich, London, SE18 3EW

Description

Long leasehold first floor self-contained flat requiring updating and works. Full vacant possession. By order of a major housing association.

Accommodation

Entrance hall, two bedrooms, reception room, kitchen, bathroom/WC

Location

The property is situated on Wrottesley Road. Public transport links include Woolwich Arsenal mainline rail station together with a network of local bus services serving the surrounding vicinity. Road links include the A206 and A205 (South Circular Road). Shopping amenities can be found locally within Plumstead and Woolwich, with an extensive range of shops, bars and restaurants being found in Woolwich Town Centre. Recreational pursuits can be found locally at the open spaces of Plumstead Common and Shrewsbury Park.

Tenure / Property Information

Investment Analysis

Same-road completed sales range from £182,000 to £330,000 for 2025 transactions, with an additional £400,000 sale in 2023 and £321,500 in 2022. The evidence does not provide comparable sizes, condition or lease details, so a precise valuation is not possible. A provisional base GDV of £262,500 is used, with a supported evidence range of £182,000 to £330,000. The £2,000 pcm figure is an advertised asking rent, not an achieved rent.

Investment Snapshot

Strategy Recommendation

Consider only as a conditional BTL or value-add purchase after inspecting the flat, confirming the refurbishment scope and reviewing the legal pack and special conditions. Do not rely on the provisional GDV or asking rent without further evidence.

Works Required

Updating and refurbishment are required, but the supplied evidence does not define the scope or condition of individual elements. Obtain a full schedule of works from inspection and review the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £262,500 base GDV, 75% refinance would be approximately £196,875. The refinance figure is below the guide price before the £1,800 documentation fee and any refurbishment or other completion costs. Because the works allowance and total project cost are unsupported, cash left in and equity cannot be calculated reliably.

Buy-to-Let Analysis

At the £195,000 guide, the advertised £2,000 pcm rent implies a gross yield of approximately 12.31% before refurbishment, finance, purchase and ownership costs. This is based on one asking-rent listing and cannot be treated as achieved rent. The required works and any additional seller charges are unknown, so net returns and a fully costed BTL case cannot be established.

Flip Analysis

The comparable evidence indicates a broad potential resale range of £182,000 to £330,000, but no refurbishment budget, selling allowance or precise condition evidence is available. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment is required but no quantified scope or cost is supplied.

• Lease information is awaited despite the proposed new 990-year lease; legal-pack review is essential.

• The £2,000 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Same-road sold comparables show a wide £182,000 to £330,000 range, with no sizes or condition details supplied.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Parking and heating information is not supplied.

Recommendation

Consider only as a conditional BTL or value-add purchase after inspecting the flat, confirming the refurbishment scope and reviewing the legal pack and special conditions. Do not rely on the provisional GDV or asking rent without further evidence.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one advertised rental, but comparable property characteristics, refurbishment costs, lease information, selling costs and possible additional seller fees are incomplete.