Site at 54, St. German's Road, Forest Hill, London, SE23 1RX

Description

Freehold site of approximately 0.15 acres situated between two residential properties. Development potential with historical planning for 4 units, subject to consents. By order of the Executors.

Accommodation

Historical planning was previously conditionally granted for a 4-storey building comprising 4 two-bedroom self-contained flats, with 3 car parking spaces to the front.

Location

Situated between Nos. 54 and 52 St Germans Road, a residential location well positioned for the amenities of Forest Hill, Catford and Honor Oak Park. Transport options include local bus routes, rail connections via Forest Hill, Catford and Catford Bridge Stations, or road links via the A205 South Circular.

Tenure / Property Information

Investment Analysis

The site is approximately 0.15 acres and has historical, conditionally granted planning for a four-storey building containing four two-bedroom flats and three parking spaces. The planning position is not confirmed as current, and no unit sizes, current consent documents, construction budget, professional valuation or sufficiently specific flat rental evidence has been supplied. The sold comparables on St. German's Road are houses or unspecified properties and are not sufficiently comparable to support a GDV for the proposed flats. Accordingly, GDV, rent, yield and maximum bid cannot be reliably established from the supplied evidence. The known auction documentation fee is £1,800 inclusive of VAT; the guide plus this fee is £126,800 before any other costs, works or seller charges.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only, not as an income-producing BTL asset. Obtain and verify the historical planning decision and conditions, establish current planning prospects, commission a measured feasibility and cost plan, and review special conditions before setting a bid limit.

Works Required

Potentially demolition/site preparation and construction of the historically planned four-storey building containing four two-bedroom self-contained flats and three front parking spaces, subject to confirming planning, building control, design, surveys, utilities and all required consents. No construction or professional-fee allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be completed reliably. The historical scheme could potentially create four flats, but current planning status, build cost, completed GDV, achievable rents, funding costs and refinance terms are unsupported. The £1,800 buyer documentation fee is known, while the seller may charge additional completion fees under the special conditions.

Buy-to-Let Analysis

A BTL appraisal cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. The proposed accommodation is not an existing completed asset, and development costs, finance costs and planning status are also unconfirmed.

Flip Analysis

A flip appraisal cannot be quantified. The supplied sold comparables are not sufficiently comparable to the proposed four-flat scheme, and there is no supported GDV, construction budget or selling-cost allowance. Any resale strategy requires confirmation of planning and a full development appraisal.

Investor Risks & Due Diligence

• Historical planning was conditional and may no longer be current or implementable.

• The proposed four-flat scheme remains subject to consents and has no confirmed current planning status in the supplied evidence.

• No reliable development cost, professional-fee, finance-cost or selling-cost allowances are available.

• The supplied sold comparables are houses or unspecified properties and may not represent values for the proposed flats.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• The buyer must pay the £1,800 inclusive-of-VAT contract documentation fee, and the seller may charge additional completion fees under the special conditions.

• The site is situated between existing residential properties, creating a need for site-specific design, access, construction and neighbour-impact due diligence; these matters are not evidenced as resolved.

Recommendation

Treat as a planning-led development opportunity only, not as an income-producing BTL asset. Obtain and verify the historical planning decision and conditions, establish current planning prospects, commission a measured feasibility and cost plan, and review special conditions before setting a bid limit.

Strategy Rating

Analysis Confidence

Evidence confirms the site, guide price, freehold tenure, historical four-flat scheme and documentation fee, but lacks current planning confirmation, unit dimensions, construction costs, GDV evidence, rental evidence and complete fee information.