Ground Rents, 21 Quarry Road, Tunbridge Wells, Kent

Description

A freehold block of two flats, both sold on long leases. The ground floor flat has been sold on a 999-year lease, from 1st October 2012 at a peppercorn ground rent, and 21A Quarry Road has been sold on a 99-year lease, from 25th December 1979 at a ground rent of £15 per annum.

Accommodation

Freehold block of two flats.

Location

Ground Rents, 21 Quarry Road, Tunbridge Wells, Kent, TN1 2EY.

Tenure / Property Information

Investment Analysis

No completed sales, formal valuation or GDV evidence is supplied. The asset is the freehold reversion/ground-rent interest in two flats, both subject to long leases. The ground-floor flat produces a peppercorn rent, while 21A produces £15 per annum. The guide range is £5,000–£10,000, but value cannot be independently tested from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Treat only as a specialist freehold ground-rent acquisition. Proceed only after confirming the lease terms, reversionary rights, enforceability of the £15 rent and all auction fees; do not underwrite it as a BTL, BRRR or refurbishment project.

Works Required

No physical works are identified in the evidence. The key work is legal and title due diligence, including reviewing both leases, rent-charge provisions, forfeiture/reversion rights and any management obligations.

Rental & Market Context

Potential BRRR Position

BRRR is unsuitable on the available evidence. There is no refurbishment opportunity, supported GDV, rental valuation or refinance basis. The asset provides a small ground-rent stream and depends principally on the value of the freehold/reversionary interest and the lease terms.

Buy-to-Let Analysis

This is not a conventional buy-to-let acquisition because both flats are already sold on leases. No possession or assured-tenancy rental income is evidenced. The only stated income is £15 per annum from 21A; the ground-floor flat has a peppercorn rent. No rental yield can therefore be established from the supplied evidence.

Flip Analysis

A flip analysis cannot be supported because no GDV, comparable sales, works allowance or resale-cost allowance is supplied. The freehold interest is encumbered by the stated long leases, so it is not evidenced as a vacant possession resale opportunity.

Investor Risks & Due Diligence

• The ground-floor flat is subject to a 999-year lease at a peppercorn ground rent, providing no stated ground-rent income.

• 21A Quarry Road is subject to a 99-year lease from 25 December 1979, leaving an approximately 52-year term as at October 2026.

• No evidence is supplied regarding reversionary value, lease-extension prospects, management obligations or repair liabilities.

• An administration fee and other non-optional costs may be payable, but no amounts are stated.

• No rental comparables or passing-rent evidence beyond the £15 annual ground rent are supplied.

Recommendation

Treat only as a specialist freehold ground-rent acquisition. Proceed only after confirming the lease terms, reversionary rights, enforceability of the £15 rent and all auction fees; do not underwrite it as a BTL, BRRR or refurbishment project.

Strategy Rating

Analysis Confidence

The lease structure, tenure, stated ground rent and guide range are supplied, but there are no comparables, rental evidence, GDV, costs, EPC, occupancy details or quantified buyer fees.