Purchase at Auction
Lot 6, 419A Kingston Road, Epsom, KT19 0BT
Key Features
- To be offered on Tuesday, 9 December.
- A three bedroom flat situated at first & second floor
- Amounting to an approx. 1,034 sq ft
- 6 weeks completion
- Virtual tour available
- In need of modernisation
- New 250 year lease to be granted on completion
- Potential for further reconfiguration of the existing flat (subject to the requisite consents)
Acquisition Cost
| Purchase Price | £231,000 |
| Stamp Duty | £11,550 |
| Agent's Fee (1.5%+vat ) | £5,358 |
| Legal Fee | £4,158 |
| Misc |
£2,772 |
| Finance Cost for 12 months |
£22,523 |
| Total Acquisition Cost | £277,361 |
Cash Investment Required
| Cash Purchase | £231,000 |
| Associated Acquisition costs | £23,838 |
| Renovations | £45,500 |
| Professionals / B.R / Structural / QS / MS, etc. | £11,550 |
| Total | £311,888 |
Profit
| Profit (Estimated) | |
| GDV (Sale Price) | £546,000 |
| Sales Agent + Legal (2%) | £9,516 |
| Acquisition costs | £277,361 |
| Development Costs | £63,360 |
| Total Costs: | £896,237 |
| Profit | £205,280 |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £158,761 |
| Profit Earned | £205,280 |
| Total ROI | 129.3% |
| Profit for JV Partner (50% share) | £102,640 |
GDV Appraisal
| Units Type (Flats) | Units |
| Across First and Second Floor - Three Bed Flat | 1 |
| Total Units | 1 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | GIA m2 | NIA m2 | Value |
| 1 | Across First and Second |
Three-bedroom flat |
96 | 91 | £546,000 |
| Total: | Sale@ £6,000/m2 | 96 | 91 | £546,000 | |
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 1 | Across First and Second | Three-bedroom flat | 96 | £32,760 |
| Total: | @ 6.0% Yield |
96 | £32,760 | |
DEVELOPMENT Loan & Budget
| Item | Description | Amount £ |
| Legals | 5% of Construction Cost | £2,400 |
| Professionals / Architect | 2% of Construction Cost | £960 |
| Construction / Refurb | Collective Build cost | £48,000 |
| Insurances | For building & Construction | £1,440 |
| Section106 / CIL | Nil | £0 |
| Contingency | 5% of Construction Cost | £2,640 |
| Total | £55,440 |
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.