Purchase at Auction
Lot 152, 14 Silver Birch Avenue, Chingford, E4 8YT
Key Features
- To be offered on Tuesday, 9 December.
- One bedroom first and second floor maisonette
- Private section of rear garden
- In need of modernisation
- A new 125 year lease will be granted on completion.
- First Floor - Entrance Hallway, Reception Room, Kitchen.
- Second Floor - Bedroom, Bathroom/WC.
Acquisition Cost
| Purchase Price | £175,000 |
| Stamp Duty | £8,750 |
| Agent's Fee (1.5%+vat ) | £4,350 |
| Legal Fee | £3,150 |
| Misc |
£2,100 |
| Finance Cost for 12 months |
£17,063 |
| Total Acquisition Cost | £210,413 |
Cash Investment Required
| Cash Deposit 35% | £61,250 |
| Associated Acquisition costs | £18,350 |
| Interest if Retained | £17,063 |
| Mobilization fund |
£20,000 |
| Professionals / B.R / Structural / QS / MS, etc. | £8,750 |
| Total | £125,413 |
Profit
| Profit (Estimated) | |
| GDV (Sale Price) | £330,000 |
| Acquisition costs | £210,413 |
| Development Costs | £36,300 |
| Total Costs: | £246,713 |
| Profit | £83,288 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £125,413 |
| Profit Earned | £83,288 |
| Total ROI | 66.4% |
| Profit for JV Partner (50% share) | £41,644 |
GDV Appraisal
| Units Type (Flats) | Units |
|
One bedroom first and second floor Maisonette |
1 |
| Total Units | 1 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | Proposed Residential NSA m2 | Value | |
| 1 | Misonette First and Second |
One-bedroom flat |
55 | £330,000 | |
| Total: | Sale@ £6,000/m2 | 55 | £330,000 | ||
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 1 | Misonette First and Second | One-bedroom flat | 55 | £19,800 |
| Total: | @ 6.0% Yield |
55 | £19,800 | |
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | 5% of Construction Cost | £1,375 |
| Professionals / Architect | 2% of Construction Cost | £550 |
| Construction / Refurb | Collective Build cost | £27,500 |
| Insurances | For building & Construction | £825 |
| Section106 / CIL | Nil | £0 |
| Inteste rolled up costs |
15% | 4,538 |
| Contingency | 5% of Construction Cost | £1,513 |
| Total | £36,300 |
SURVEYS & REPORTS
LEASE & LEGAL PACK
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.