Flat C, 30 Colvestone Crescent, Hackney, London, E8 2LH

Description

One bedroom first floor flat; well located for the amenities of Dalston; in need of modernisation; vacant.

Accommodation

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

Location

The property is situated in the vibrant residential area of Dalston, Hackney, offering convenient access to independent shops, cafés, restaurants and bars. Kingsland High Street provides further shopping and leisure amenities. Dalston Kingsland and Dalston Junction stations are within easy reach, providing Overground connections across London, alongside numerous local bus services. London Fields and Hackney Downs are nearby green spaces.

Tenure / Property Information

Investment Analysis

Recent same-street completed sales supplied are £284,000 and £294,500, but the evidence does not state their bedroom counts, sizes, condition or exact comparability to this vacant one-bedroom flat. The wider supplied sales range from £371,500 to £636,000 and appears materially less comparable because property specifications are not provided. A reliable GDV, refurbishment budget, rent or maximum bid cannot therefore be established. The £255,000 guide is below the two most recent same-street sales, but this is not sufficient evidence of value after allowing for modernisation, buyer fees and unknown seller charges or VAT.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining the legal pack, confirming the new lease terms and inspecting or pricing the required modernisation. On the supplied evidence alone, do not rely on a BTL, BRRR or flip strategy and do not set a bid above the guide without verified costs and value.

Works Required

Modernisation of the flat is required, based on the description. The evidence does not specify the condition or scope of works, so no reliable cost allowance can be produced. Confirm the condition of the reception room, kitchen, bedroom, shower room/WC and services before bidding.

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 evidence does not support a post-works GDV, refurbishment budget, rent or refinance value. The new 990-year lease is stated to be granted on completion, but the remaining lease terms, ground rent and service charge are not supplied.

Buy-to-Let Analysis

The flat is vacant and described as a one-bedroom property in Dalston, but no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield cannot be established. Buyer premium, VAT position, seller charges, EPC, council tax and other cost information are also unavailable.

Flip Analysis

A flip appraisal cannot be completed reliably. Two recent same-street sales are £284,000 and £294,500, but their specifications and condition are unknown. The modernisation scope, project cost, resale allowance, buyer premium, VAT and seller charges are also unknown.

Investor Risks & Due Diligence

• Comparable sales lack bedroom, size and condition details, limiting valuation reliability.

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

• Buyer premium and potentially applicable VAT are excluded from the guide.

• Seller charges and the seller's VAT election are unknown pending the Special Conditions of Sale.

• Rental income cannot be supported because no sufficiently specific rental evidence is supplied.

• The new 990-year lease is stated to be granted on completion, but its full terms, ground rent and service charge are not supplied.

Recommendation

Proceed only after obtaining the legal pack, confirming the new lease terms and inspecting or pricing the required modernisation. On the supplied evidence alone, do not rely on a BTL, BRRR or flip strategy and do not set a bid above the guide without verified costs and value.

Strategy Rating

Analysis Confidence

The address, property type, bedroom count, vacancy, tenure, guide and two recent same-street completed sales are supplied, but comparable specifications, rental evidence, works scope, fees, service charges, EPC and legal details are missing.