Purchase at Auction
Flat 31 Lloyd House, 20 Tavistock Road, Croydon, Surrey, CR0 2AN
Key Features
- To be offered on Tuesday 9 December
- One bedroom sixth floor flat
- In need of modernisation
- Share of freehold
- Benefitting garage-en-bloc
- Conveniently located for the amenities of Croydon
- Leasehold - 125 years from 30 April 1982
Acquisition Cost
| Purchase Price | £96,000 |
| Stamp Duty | £4,800 |
| Agent's Fee (1.5%+vat ) | £2,928 |
| Legal & Misc | £2,880 |
| Total Acquisition Cost | £106,608 |
Cash Investment Required
| Cash Purchase | £96,000 |
| Associated Acquition costs | £10,608 |
| Renovations | £45,911 |
| Professionals / B.R / Structural / QS / MS etc. | £2,400 |
| Total | £154,919 |
Profit
| Profit (Estimated) | |
| GDV (Sale Price) | £241,150 |
| Sales Agent + Legal (2%) | £4,756 |
| Acquisition costs | £106,608 |
| Development Costs | £45,911 |
| Lease extension |
£20,000 |
| Total Costs: | £172,519 |
| Profit | £68,631 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £154,919 |
| Profit Earned | £68,631 |
| Total ROI | 44.4% |
| Profit for JV Partner (50% share) | £34,315 |
| ROI for JV Partner | 22.2% |
GDV Appraisal
| Units Type (Flats) | Units |
| First Floor - Two Bed Flats | 1 |
| Total Units | 1 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | GIA m2 | NIA m2 | Value |
| 1 | First |
Two bedroom flat |
53 | 53 | £241,150 |
| Total: | Sale@ £4,550/m2 | 53 | 53 | £241,150 | |
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 3 | First | Two bedroom flat | 53 | £15,600 |
| Total: | @ 6.5% Yield |
53 | £15,600 | |
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | £1,193 | |
| Professionals / Architect | 5% of Construction Cost | £1,988 |
| Construction / Refurb | First Floor | £39,750 |
| Insurances | For building & Construction | £795 |
| Section106 / CIL | Nil | £0 |
| Contingency | 5% of Construction Cost | £2,186 |
| Total | £45,911 |
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.