Purchase at Auction
Flat 6 Raleigh Lodge, 40 Greenham Crescent, Chingford, London, E4 8YQ
VACANT - Leasehold Self Contained Ground Floor Flat
£75,000+
Key Features
- New 125 Year Lease
- Reception Room, Bedroom, Kitchen, Bathroom
- GIA approximately 69 sq m (743 sq ft)
- Rear Garden
- Walthamstow Central Rail Station is approximately 2.4 miles to the south
- Shops and amenities of Chingford Mount to the north east
Accommodation and Tenancy Schedule
| Floor | Accommodation | Approx GIA | EPC | Council Tax Band | |
|---|---|---|---|---|---|
Ground |
Reception Room, Bedroom, Kitchen, Bathroom |
69 sq m |
743 sq ft |
D |
B |
Acquisition Cost
| Purchase Price | £200,000 |
| Stamp Duty | £10,000 |
| Agent's Fee (1.5%+vat ) | £4,800 |
| Legal Fee | £3,600 |
| Misc |
£2,400 |
| Total Acquisition Cost | £220,800 |
Cash Investment Required
| Cash Purchase | £200,000 |
| Stamp Duty | £10,000 |
| Agent's Fee (1.5%+vat ) | £4,800 |
| Legal Fee | £3,600 |
| Consultant Fees (Approx) | £10,000 |
| Misc | £2,400 |
| Total | 230,800 |
Profit
| Profit (Estimated) | |
| GDV | £414,000 |
| Acquisition costs | £220,800 |
| Development Costs | £68,310 |
| Total Costs: | £289,110 |
| Profit | £124,890 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £230,800 |
| Profit Earned | £124,890 |
| Total ROI | 56.6% |
| Profit for JV Partner (50% share) | £62,445 |
GDV Appraisal
| Units Type (Flats) | Units |
|
Ground Floor |
01 |
| Total Units | 01 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 01 | Ground |
One-Bedroom
|
69 | £414,000 | |
| Total: | Sale@ £6,000/m2 | 69 | £414,000 | ||
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 1 | Ground | One-bedroom | 69 | £24,840 |
| Total: | @ 6.0% Yield |
69 | £24,840 | |
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | 5% of Construction Cost | £2,588 |
| Professionals / Architect | 2% of Construction Cost | £1,035 |
| Construction / Refurb | Collective Build cost | £51,750 |
| Insurances | For building & Construction | £1,553 |
| Section106 / CIL | Nil | £0 |
| Inteste rolled up costs |
15% | £8,539 |
| Contingency | 5% of Construction Cost | £2,846 |
| Total | £68,311 |
Disclaimer
Valuations & Appraisals by Sleek are strictly estimates only and you should use them on that basis. The valuation Model analyses prices for equivalent properties sold or sold in the area. These properties may differ in ways that we do not or cannot consider. Valuations are subjective and based on market forces, which may change. Valuations must not be used for property sale, purchase, mortgage or related purposes. You should seek a professional valuation from a qualified surveyor before deciding whether to buy or sell a property. We shall not be liable for any losses you or anyone else suffer due to relying on the valuations. This includes not being liable for any loss of property, loss of bargain, loss of capital through over-payment or under-sale or for any indirect, special or consequential loss.