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See how verdicts work1-bedroom house · RM17 5RX
Listing removedListed 102 daysAuction 29 Jul · ended
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Guide Price = £3,000+ **For Sale By Public Auction 29th July 2026 09:30 AM To inspect the legal documents for this property go to our website to download the legal pack** A Vacant First Floor One Bedroom Retirement Flat Tenure Leasehold.
The property is held on a 99 year lease from 1st January 1986 (thus approximately 58 years unexpired ). Location The property is situated on a residential road close to local shops and amenities.
The open spaces of Grays Chalk Quarry Nature Reserve are within easy reach. Transport links are provided by Grays rail station.
Description The property comprises a first floor one bedroom retirement flat situated within a purpose built building arranged over ground and first floors.
The property benefits from a residents lounge. Accommodation First Floor Reception Room Kitchen Bedroom Bathroom Exterior The property benefits from communal gardens and allocated parking.
Note To be eligible as a resident you must be a man aged 65 or over or a female aged 60 or over.
Please refer to the legal pack for more information on eligibility Further Information When purchasing a flat that has a short lease, it is important to understand that in addition to the purchase price, if you wish to extend the lease to 90+ years, you will need to pay a premium to the freeholder.
This is done by way of serving a Section 42 notice to the freeholder requesting a lease extension with a suggested price for the extension.
The freeholder has the right to refuse the offer and submit a counter notice with their suggested price. If you do not fully understand this process, please ask the auctioneers or a solicitor.
EPC Rating C Open House Viewings: Viewing Schedule (No Booking Required) Thursday 16 July 14:30 - 15:00 Saturday 18 July 13:30 - 14:00 Monday 20 July 14:30 - 15:00 Wednesday 22 July 14:30 - 15:00 Friday 24 July 14:30 - 15:00 Tuesday 28 July 14:30 - 15:00 Addendum Please note that this property is subject to a Buyers Premium of £1,560 inc VAT.
This is in addition to the buyer's admin fee of £1,800 inc VAT charged by the auctioneers. Both fees are payable to the auctioneers.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
FAQ
About 14 Priestley Court, Palmers Drive, Grays, Essex, RM17 5RX
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