London Flat A, 88 Macoma Road, Plumstead, London, SE18 2QL

Description

Vacant long leasehold self-contained first floor flat. By order of a Housing Association. The vendor will not accept offers prior to the auction.

Accommodation

Reception room, two bedrooms, kitchen and bathroom. GIA approximately 59.55 sq m (641 sq ft).

Location

Situated on the south side of Macoma Road. The shops and amenities of Plumstead Common Road are to the north west. Plumstead rail station is approximately 0.8 miles to the north. The A205 (South Circular) is to the west. Plumstead Common is to the north.

Tenure / Property Information

Investment Analysis

The only recent comparable supplied is 130A Macoma Road, sold for £230,000 on 1 April 2025. It is a leasehold flat on the same road, but its bedroom count, size and condition are not provided, so it is an indicative rather than fully verified comparison. The £210,000+ guide is £20,000 below that sale, although the achievable value remains uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the vacant flat and confirming all auction charges. The evidence does not support a firm BTL, BRRR or flip decision at the guide.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and any works identified before bidding, but no costed works allowance can be supported from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the sole same-road sale as an indicative £230,000 GDV, 75% refinance would be approximately £172,500. Total acquisition and project cost cannot be calculated because works, buyer costs and rent evidence are unavailable. The 990-year lease and peppercorn ground rent are favourable stated lease terms, subject to reviewing the legal pack.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Buyer premium, administration charges and other potential costs are also not stated.

Flip Analysis

A theoretical resale comparison is the supplied £230,000 Macoma Road sale, versus the £210,000+ guide. However, the comparable lacks specification and condition details, and selling costs, acquisition costs and refurbishment costs are unknown, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

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

• The principal comparable does not provide bedroom, size or condition details.

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

• No condition information or refurbishment cost evidence is supplied.

• The legal pack and special conditions may contain additional obligations or costs not stated in the listing.

Recommendation

Proceed only after reviewing the legal pack, inspecting the vacant flat and confirming all auction charges. The evidence does not support a firm BTL, BRRR or flip decision at the guide.

Strategy Rating

Analysis Confidence

The property description, tenure and one recent same-road sale are supplied, but there is no verified rent, condition assessment, detailed comparable specification, buyer-cost schedule or low/high valuation evidence.