PURCHASE AT AUCTION
LOT 93 - 343 Allenby Road, Southall, Greater London, UB1 2HE
VACANT - Leasehold Self Contained First and Second Floor Maisonette - Guide Price £115,000+ Residential
Key Features
- New 125 Year Lease
- First Floor - Reception Room, Kitchen
- Second Floor - Two Bedrooms, Shower Room
- Approximate GIA 75.06 sq m (808 sq ft)
- Southall Station (Elizabeth line and National Rail) is approximately 1.8 miles to the south west
- King George's Field is to the west
Accommodation schedule
| Floor | Accommodation | Approx GIA | EPC | Council Tax Band | |
|---|---|---|---|---|---|
First
Second
|
Reception Room, Kitchen
|
75.06 sq m
|
808 sq ft
|
C
|
C
|
Two Bedrooms, Shower Room
|
|||||
Cash Investment Required
| 35% Deposit at Purchase | £70,000 |
| Stamp Duty | £10,000 |
| Interest for 12months @ 15% for £200k | £18,000 |
| Agent & Legal | £10,000 |
| Professionals / B.R / Structural / QS / MS, etc. | £25,000 |
| Mobalization Fund | £100,000 |
| Misc | £20,000 |
| Total | £623,950 |
Profit
| Profit (Estimated) | ||
| GDV (Sale Price) | £410,000 | |
| Interest on Purchase | £18,000 | |
| Sales Agent + Legal (2%) | £10,000 | |
| Acquisition costs | £200,000 | |
| Development Costs | £510,000 | |
| Total Costs: | £1,619,000 | |
| Profit | £900,000 | |
Return on Investment
| ROI (Estimated) | |
| Cash Invested | £625,000 |
| Profit Earned | £900,000 |
| Total ROI | 144% |
| Profit for JV Partner (50% share) | £450,000 |
| ROI for JV Partner | 72% |
GDV Appraisal
| Units Type (Flats) | Units |
| Second Floor - Two Bed Flat | 1 |
| Total Units | 1 |
GDV Appraisal continued
| Gross Development Value (Collective) | |||||
| Units | Level | Description | GIA m2 | NIA m2 | Value |
| 1 | Second |
Two Bedroom Flat (£5,500/sqm) |
75.06 | 75.06 | £410,000 |
| Total: | Sale@£5,500/m2 | 75.06 | 75.06 | £410,000 | |
| Gross Rental Value (Collective) | ||||
| Units | Level | Description | Sqm | Value (Rent) |
| 1 | Second | Two Bed Flat | 75.06 | £27,600 |
| Total: | @ 6.73% Yield |
75.06 | £27,600 | |
DEVELOPMENT Costs (Estimates)
| Item | Description | Amount £ |
| Legals | £10,000 | |
| Professionals / Architect | 3% of Construction Cost | £12,000 |
| Construction / Refurb | Ground + First + Second | £385,000 |
| Insurances | For building & Construction | £5,000 |
| Finance Cost | 15% @ for £100k for 12m | £58,000 |
| Section106 / CIL | Nil | £20,000 |
| Contingency | 5% of Construction Cost | 20,000 |
| Total | £510,000 |
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.