GFF, 411 Grove Green Road, London, E11 4AA

Description

Long leasehold self-contained garden flat requiring updating. Full vacant possession. By order of a major housing association.

Accommodation

Entrance hall, one bedroom, reception room, kitchen, shower room/WC. Outside: rear gardens. Approx. 46m²/490 sq ft.

Location

Situated on Grove Green Road, well positioned for the amenities of Leytonstone, Wanstead Park and Flats, Stratford and the Olympic Park Legacy. Transport options include local bus routes, rail connections via Leytonstone or Leytonstone stations, and road links via the A12, M11 and A406 North Circular.

Tenure / Property Information

Investment Analysis

The guide price of £229,000 is below the supplied same-road completed-sale evidence, but the comparables vary materially in price and no bedroom count, floor area, condition or garden details are provided. The most relevant lower evidence points are £235,000 and £250,000; £357,000 is a higher scenario, while the £400,000 and £600,000 sales cannot be reliably applied without further property detail. Indicative GDV scenarios are therefore low £235,000, base £250,000 and high £357,000, subject to inspection and legal-pack review.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms, inspecting the flat and obtaining a refurbishment quotation. Do not bid on a BTL or flip assumption until rent and all costs are evidenced.

Works Required

The flat is described as requiring updating. Scope should be confirmed by inspection and quotations; no specific kitchen, bathroom, structural, services or decorative defects are evidenced. Allow for only verified updating works after inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative base GDV of £250,000, 75% refinance is approximately £187,500. Cash left in cannot be calculated because works, total acquisition costs and any seller fees are unknown. The proposed new 990-year lease at peppercorn ground rent is positive on the supplied terms, but the lease and special conditions require legal review.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, and refurbishment costs, lease details and any service-charge information remain unknown. Do not rely on a yield case until rent and total costs are verified.

Flip Analysis

The low/base/high GDV scenarios are based on same-road completed sales, but comparability is limited because sale specifications are not supplied. A flip surplus cannot be calculated because refurbishment costs, selling costs and any additional seller fees are unknown. The guide plus the known £1,800 documentation fee is not sufficient to establish a project cost.

Investor Risks & Due Diligence

• Comparable-sale specifications are insufficient to confirm the applicable market value.

• The flat requires updating, but no quantified works scope or cost is supplied.

• No reliable rental evidence is supplied, preventing yield analysis.

• Lease information is awaited and must be checked in the legal pack.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating details require confirmation.

• The property is leasehold and service-charge information is not supplied.

Recommendation

Proceed only after reviewing the legal pack, confirming the new lease terms, inspecting the flat and obtaining a refurbishment quotation. Do not bid on a BTL or flip assumption until rent and all costs are evidenced.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and a stated guide price, but the comparables lack size, bedroom, condition and garden information. Rent, refurbishment cost, lease details and potential seller fees are unavailable.