Ground Floor, 15, St. Johns Road, London, SE20 7EF

Description

Long Leasehold Garden Flat. Would benefit from some upgrading. Full vacant possession. This garden flat extends to approximately 559 sq ft, has direct access to the rear garden and is generally presented in good order with some scope for further improvement.

Accommodation

One bedroom, reception room, open plan dining kitchen, bathroom/WC, utility area with access to garden. Outside: garden.

Location

St John Road leads off the High Street at Penge. Penge West Underground and Rail station and Penge East station are within a few minutes’ walk. Crystal Palace Park is within 0.5 mile.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £360,000 completed sale for 15 St Johns Road in July 2024, with nearby same-street sales ranging from £327,940 to £360,000. A base GDV of £360,000 is used, subject to confirmation that the new 125-year lease, specification and condition are comparable. This is an evidence-based estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider only as a value-led purchase or resale/refurbishment opportunity, subject to inspection, confirmed works pricing and satisfactory review of the new lease and special conditions. Do not rely on BTL assumptions without rental evidence.

Works Required

Undertake the unspecified upgrading and further improvement referred to in the auction description. No specific defects, scope or costings are supplied, so works should be confirmed by inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £225,000 guide, the property is materially below the £327,940–£360,000 completed-sale evidence before allowing for works, fees and any seller charges. A 75% refinance against the £360,000 base GDV would be £270,000, but total project cost and cash left in cannot be calculated until works and lease information are available.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property is vacant and there is no passing rent. Refurbishment costs and lease terms also remain unknown.

Flip Analysis

A £360,000 base GDV indicates substantial apparent headroom over the £225,000 guide, but only the known £1,800 administration charge can be quantified. Works, acquisition costs beyond the stated charge, seller fees and selling costs are unsupported, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Lease information for the proposed new 125-year lease is awaited and must be reviewed in the legal pack.

• The scope and cost of the stated upgrading and further improvement are not provided.

• No sufficiently specific rental evidence is available, preventing a supported yield assessment.

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

• The property is leasehold and vacant, with no passing rent.

Recommendation

Consider only as a value-led purchase or resale/refurbishment opportunity, subject to inspection, confirmed works pricing and satisfactory review of the new lease and special conditions. Do not rely on BTL assumptions without rental evidence.

Strategy Rating

Analysis Confidence

Completed-sale evidence is available, including a sale at the subject address, but lease details, refurbishment costs, rental evidence and possible seller fees are unavailable.