10 Putney Bridge Road, London

Description

The subject property is a three storey, mid-terrace building arranged over ground, first and second floor. It comprises 3 x self-contained one bed flats, with a unit on each floor. Flat A is at ground floor and benefits from a rear patio garden. Flat B is at first floor and benefits from a rear terrace. Flat C is at second floor and benefits from a rear terrace. The property is in need of modernisation and is being sold vacant.

Accommodation

Flat A at ground floor with rear patio garden; Flat B at first floor with rear terrace; Flat C at second floor with rear terrace. Three self-contained one bed flats, with one unit on each floor.

Location

Located in Wandsworth, South West London, 6.9 miles (11.1 km) south west of Central London. The property is near Wandsworth town centre, Southside Shopping Centre, Wandsworth Park, Wandsworth Town station and East Putney Underground Station, with access to the A3 and local bus network.

Tenure / Property Information

Investment Analysis

The two most recent supplied comparables on the same road sold for £375,000 and £380,000 per flat in July 2024. Applied across three flats, this indicates an aggregate evidence range of approximately £1,125,000 to £1,140,000 only if those comparables are genuinely equivalent in size, condition, tenure and specification. However, the supplied comparable addresses appear to relate to individual flats and the evidence does not confirm their accommodation or condition. The £825,000 guide is therefore materially below the simple aggregate of the two recent comparable prices, but the subject requires modernisation and no quantified adjustment is supported. A formal GDV cannot be reliably established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not commit at the guide price without inspecting all three flats, verifying the comparable units and obtaining a detailed refurbishment budget, rental assessment and full auction special conditions. Proceed only if the evidenced resale value supports all costs and an adequate risk margin.

Works Required

Modernisation of the three self-contained one-bedroom flats, subject to inspection and specification. The evidence does not identify particular defects, services issues, statutory compliance works or structural works, so no cost allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because refurbishment costs, market rents, a reliable GDV and buyer or administration charges are unavailable. The approximately 103-year lease is a positive tenure feature, but the guide, modernisation requirement and unknown costs require detailed due diligence before considering refinance.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Gross yield, operating costs and debt coverage therefore cannot be established. The building is vacant and comprises three self-contained flats, but passing income is nil at completion.

Flip Analysis

The supplied recent same-road flat sales provide potentially relevant resale evidence, but their accommodation, condition and exact comparability are unconfirmed. No supported refurbishment budget, selling allowance or reliable whole-building GDV is available, so flip profit cannot be calculated.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or passing rent is supplied.

• The building requires modernisation, but the nature and cost of the works are unknown.

• The comparable sales are individual flats and their size, condition and specification are unconfirmed.

• Buyer fees, VAT treatment and possible seller charges are not quantified.

• The property is leasehold and the full lease, ground rent, service charge and management obligations have not been supplied.

• Vacant possession means there is no current rental income.

Recommendation

Do not commit at the guide price without inspecting all three flats, verifying the comparable units and obtaining a detailed refurbishment budget, rental assessment and full auction special conditions. Proceed only if the evidenced resale value supports all costs and an adequate risk margin.

Strategy Rating

Analysis Confidence

There are two recent same-road sales and clear information on the building layout, vacancy and lease length, but no confirmed comparable specifications, rental evidence, refurbishment costs, EPC, service-charge information or complete buyer and seller charges.