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See how verdicts work2-bedroom bungalow · IG7 5ET
Listing removedListed 83 daysAuction 18 Aug · ended
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Strapline Auction Sale - 18/08/2026 - To book viewings, view the legal pack and register to bid please refer to the full sales particulars on the Savills Auctions website.
- A two bedroom bungalow with planning permission for a loft conversion and rear extension. Benefitting from a rear garden. Well located for the amenities of Chigwell. In need of refurbishment.
Vacant. Location The property is situated in the sought-after Chigwell area of Essex, with convenient access to central London via nearby Chigwell and Grange Hill Underground stations.
Local amenities include supermarkets, independent shops, cafés, restaurants, healthcare facilities and leisure centres, as well as nearby schools and green spaces.
Hainault Forest Country Park is within easy reach offering open green space for recreational activities. Nearby road communications include the M11, M25 and the A406.
Transport Underground - Chigwell & Grange Hill (Central) Tenancy Vacant.
Accommodation Ground Floor - Reception Room, Kitchen/Dining Room, Conservatory, Two Bedroom, Bathroom/WC Planning Epf/0507/26 & epf/0497/26 - Planning permission has been granted for a loft conversion with rear dormer and single storey rear extension.
Separate planning permission has also been granted for the conversion of garage to habitable space. Please refer to the Epping Forest District Council Planning Portal for further information.
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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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
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FAQ
About 56 Lechmere Avenue, Chigwell
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