London Flat A, 28 Torrens Road, Brixton, London

Description

Vacant long leasehold self-contained ground floor flat offered by order of a housing association. Key features include a reception room, bedroom, kitchen, bathroom and cellar for storage. The vendor will not accept offers prior to auction.

Accommodation

Reception room, bedroom, kitchen, bathroom and cellar (storage). GIA excluding cellar approximately 53.60 sq m (577 sq ft).

Location

Located on the east side of Torrens Road. The shops, restaurants and bars of Brixton are to the north east. Brixton rail and underground stations are approximately 0.7 miles to the north east. The A23 is to the east and Brockwell Park is to the south east.

Tenure / Property Information

Investment Analysis

The only completed-sale evidence is for 28 Torrens Road: £249,950 in July 2009 and £141,500 in March 2003. These transactions are old and do not confirm the current value of this specific flat, although the July 2009 sale provides a historic same-address reference close to the £250,000 guide. No current comparable evidence, EPC, condition report, buyer premium, administration charge or other costs is supplied. A base GDV of £249,950 is used only as a cautious historic evidence proxy, not as a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a potential rental acquisition only if the £2,750 pcm asking rent is independently validated and all auction special-condition charges are reviewed. Do not bid solely on the historic GDV or advertised rent; obtain a survey and set a maximum bid after confirming condition, achievable rent and total costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and only undertake works supported by the survey, potentially including general redecoration, repairs or compliance works if identified; no cost allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The long 990-year lease from 2003 and peppercorn ground rent are favourable structural features. Using the historic £249,950 same-address sale as the base GDV proxy, 75% refinancing would equate to £187,462.50. However, refurbishment costs, acquisition charges and finance costs are unknown, so total project cost, equity requirement and cash left in cannot be calculated reliably. The refinance case should not be relied upon without a current valuation and lender-specific assessment.

Buy-to-Let Analysis

The single Instagram listing indicates an advertised asking rent of £2,750 pcm, equivalent to £33,000 annually. Against the £250,000 guide this produces a headline gross yield of 13.2%, but the rent is not an achieved or passing rent and no second rental source is supplied. The calculation excludes finance, voids, management, maintenance, insurance, tax and unknown auction or seller charges. Rental demand and achievable rent require independent verification before bidding.

Flip Analysis

A historic same-address sale of £249,950 provides a limited GDV reference, broadly equal to the £250,000 guide. No current market evidence, condition information, refurbishment budget, selling costs or auction charges are supplied. Consequently, no supported flip surplus or reliable resale margin can be established; the apparent spread before all costs is negligible.

Investor Risks & Due Diligence

• The £2,750 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The completed sales evidence is historic, with the latest transaction dating from July 2009, and may not confirm the current value of this specific flat.

• Property condition and any required works are not evidenced.

• Buyer premium, administration charge and other seller or third-party fees are unspecified.

• EPC, council tax, parking and heating information are not supplied.

• A current valuation, achievable-rent assessment and lender valuation may differ materially from the historic GDV proxy.

Recommendation

Treat as a potential rental acquisition only if the £2,750 pcm asking rent is independently validated and all auction special-condition charges are reviewed. Do not bid solely on the historic GDV or advertised rent; obtain a survey and set a maximum bid after confirming condition, achievable rent and total costs.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, accommodation, vacancy, lease length, guide price and two historic same-address sales, but current valuation evidence, property condition, achieved rent, EPC, fees and acquisition costs are missing. Rental evidence consists of one advertised asking rent only.