10 Green Court, Green Lane, Edgware, Greater London, HA8 7PP

Description

Vacant leasehold self-contained ground floor flat with three bedrooms, reception room, kitchen and shower room. Total GIA approximately 73.8 sq m (794 sq ft).

Accommodation

Three bedrooms, reception room, kitchen and shower room; total GIA approximately 73.8 sq m (794 sq ft)

Location

Situated on the east side of Green Lane. Edgware underground station (Northern Line) is approximately 0.3 miles away. The M1 motorway is accessible to the east, the M25 motorway is accessible to the north, local shops and amenities are within walking distance, and Stanmore Country Park is to the north.

Tenure / Property Information

Investment Analysis

The closest evidence comprises five completed sales within Green Court, including £330,000 and £350,000 in June 2021, with older sales of £380,000 in 2018, £347,000 in 2015 and £248,500 in 2010. A base GDV estimate of £340,000 is based on the two 2021 same-development sales, with a £330,000–£350,000 evidence range. Comparability is limited because the sold-flat sizes, condition, exact lease lengths and specification are not supplied. The subject has approximately 57 years unexpired, which may materially affect value and mortgageability, but no supported adjustment is available. The £220,000 guide represents approximately 64.7% of the base GDV before works, fees and lease-related costs.

Investment Snapshot

Strategy Recommendation

Do not bid solely against the apparent guide-to-GDV spread. Proceed only after legal-pack review, lease/mortgageability advice, inspection and confirmation of all buyer, seller and third-party charges. The short lease makes a conventional BTL or BRRR strategy unsuitable for underwriting without further evidence.

Works Required

No physical defects or refurbishment requirements are evidenced. Obtain a full survey and inspect the kitchen, shower room, services, windows and communal elements before budgeting any works. Confirm lease, ground-rent and management requirements with the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £220,000 guide, the indicative 75% refinance against the £340,000 base GDV is £255,000. However, total acquisition costs, refurbishment costs, finance costs, lease-extension costs and lender treatment of the approximately 57-year lease are unknown, so cash left in and BRRR equity cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The approximately 57-year lease, £200 annual ground rent and unknown service charges may also affect mortgageability and net returns. Do not underwrite on rent without verified local evidence and lease/legal review.

Flip Analysis

Using the supplied evidence, the base GDV is estimated at £340,000, with a £330,000–£350,000 range. A flip surplus cannot be calculated because works, purchase-related charges, finance, selling costs and any lease-extension costs are unsupported. The 2021 comparables are historic and may not reflect current achievable resale value.

Investor Risks & Due Diligence

• Approximately 57 years remain on the lease, creating potential mortgageability, resale and lease-extension risk.

• Current ground rent is £200 per annum; service-charge and other lease liabilities are not supplied.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Property condition and any required refurbishment are not evidenced.

• The comparable sales are historic, with the closest two completing in June 2021, and their sizes, condition and lease terms are unknown.

• Buyer, administration, seller and other third-party charges may apply but are not quantified.

• EPC, council-tax, parking and heating information is not supplied.

Recommendation

Do not bid solely against the apparent guide-to-GDV spread. Proceed only after legal-pack review, lease/mortgageability advice, inspection and confirmation of all buyer, seller and third-party charges. The short lease makes a conventional BTL or BRRR strategy unsuitable for underwriting without further evidence.

Strategy Rating

Analysis Confidence

Same-development completed sales support a broad historical GDV indication, but the evidence lacks current sales, comparable sizes and condition, rental evidence, refurbishment costs, service charges, EPC, buyer fees and full lease/legal details.