One Bedroom Flat, Romford, RM3 23% BMV
A second-floor, one-bedroom leasehold flat in Romford, being offered at a BMV strike price of £135,000 against an on-market value of circa £175,000 (Zoopla valuation £199,000), representing approximately 23% below market value. The lease has approximately 96 years remaining, with a service charge of £1,500 per annum and ground rent of £10 per annum. The property measures 41 sq m / 441 sq ft and requires only minimal refurbishment. The location benefits from strong local amenities including nearby primary and secondary schools, a shopping centre, healthcare facilities, and a railway station within 0.5 miles, along with local parks and leisure facilities. Timescale for completion is 28 days.
A one-bedroom, second-floor leasehold flat in Romford, requiring only minimal refurbishment. The property spans 41 sq m (441 sq ft) and offers convenient access to local schools, shops, healthcare, and Harold Wood Railway Station (0.5 miles), making it well suited to owner-occupiers or investors seeking rental demand in the area.
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Financial Analysis
Comparable 2 - Sold: 1-bedroom leasehold flat, Romford RM3 9RP - Sold 27/02/2024 | £187,000 | 462.85 ft² | 0.43 miles from subject property
Comparable 3 -Sold: 1-bedroom leasehold flat, Romford RM3 0LQ - Sold 23/02/2024 | £266,000 | 548.96 ft² | 0.93 miles from subject property
SSTC Supporting Evidence: Further supporting comparables currently SSTC in the area range from £180,000 to £270,000 for 1-bedroom flats within 1 mile of the subject property, including recent SSTC activity at £200,000 (0.59 miles) and £215,000 (0.89 miles). Street-level evidence within the same building shows a recent sale at £210,000 (November 2025) and a further sale at £95,500 (October 2025), indicating a strong recent range of achieved values on the subject street. Subject property is being offered at £135,000 OIEO, representing approximately 23% below market valu
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Fee to Pay £1296$ 1,758 *$ 2,433 *$ 2,421 *€ 1.509 * (Inc VAT)
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