10 Gladstone Park Gardens, Cricklewood, London

Description

Mid terrace house with three reception rooms, kitchen, three bedrooms (one with balcony to front), bathroom/WC, rear garden and shed. GIA approximately 118 sq m (1,270 sq ft).

Accommodation

Ground floor: three reception rooms and kitchen. First floor: three bedrooms, one with balcony to front, and bathroom/WC. Rear garden and shed. GIA approximately 118 sq m (1,270 sq ft).

Location

Situated on the south side of Gladstone Park Gardens, close to its junction with Edgware Road (A5). Shops and amenities are available in Cricklewood, with further shopping facilities at Brent Cross Shopping Centre. Cricklewood rail station provides Thameslink services across London and towards Sutton and St Albans City stations. The A406 (North Circular Road) is to the north and Cricklewood Broadway is to the east. The open spaces of Gladstone Park are close by.

Tenure / Property Information

Investment Analysis

The strongest evidence is 52 Gladstone Park Gardens, a freehold terraced sale at £600,000 in February 2025. The £850,000 and £750,000 sales were semi-detached and are less directly comparable, while the £64,000 'Other' sale is not usable as a residential house comparable. A base GDV of £600,000 is therefore a cautious evidence-led estimate, but the limited comparable evidence does not support reliable low and high scenarios. The £500,000+ guide is 83.3% of this indicative GDV before works, fees and transaction costs.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal review and confirmation of achievable rent and total costs. On the supplied evidence, the property is more suitable for cautious income-led assessment than a committed flip or BRRR project.

Works Required

No specific defects or required works are evidenced. Allow for inspection-led works only; the property is described as having three reception rooms, a kitchen, bathroom/WC, balcony, rear garden and shed. Refurbishment cost cannot be quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £500,000 guide, the indicative 75% refinance amount against the £600,000 base GDV is £450,000. However, works costs, buyer costs, finance costs and the final valuation are unknown, so cash left in and BRRR viability cannot be established.

Buy-to-Let Analysis

Using the advertised asking rent of £3,653 pcm, annual gross rent is £43,836 and the gross yield on the £500,000 guide is approximately 8.77%. This is based on an asking rent rather than achieved rent, and no costs, EPC, council tax, finance or management information is supplied, so net returns cannot be assessed.

Flip Analysis

A £600,000 base GDV is supported only by one directly comparable terraced sale at the same address. A flip surplus cannot be calculated because refurbishment costs, selling costs and other project costs are not supplied.

Investor Risks & Due Diligence

• The £600,000 GDV is based principally on one comparable sale and is not a formal valuation.

• The £3,653 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The property condition and required refurbishment are not evidenced, so total project cost is unknown.

• Buyer, administration, seller and third-party charges are unspecified.

• EPC, council tax, heating, parking and operating costs are not supplied.

• The £64,000 'Other' comparable is anomalous and cannot be relied on as a residential house valuation indicator.

Recommendation

Proceed only subject to inspection, legal review and confirmation of achievable rent and total costs. On the supplied evidence, the property is more suitable for cautious income-led assessment than a committed flip or BRRR project.

Strategy Rating

Analysis Confidence

There is one recent directly comparable terraced sale and one advertised three-bedroom rent, but condition, refurbishment costs, fees, EPC, running costs and broader comparable evidence are absent.