109d, Chesterton Road, London

Description

Long leasehold second floor flat requiring updating. By order of a major housing association.

Accommodation

Entrance hall, one bedroom, reception room, kitchen, bathroom/WC. Approx. 41 m2 / 441 sq ft.

Location

The property is situated on Chesterton Road, well positioned for the amenities of Ladbroke Grove, North Kensington, Notting Hill and Westfields Shepherds Bush. Transport options include local bus routes, road links via the A40/M40 and A404, and rail connections via Ladbroke Grove London Underground station (Circle or Hammersmith & City Lines).

Tenure / Property Information

Investment Analysis

Indicative GDV is based only on supplied completed sales on Chesterton Road. The evidence ranges from £350,000 to £520,896 for individual flat/maisonette sales, with two further sales at £500,000 and £502,000. The £905,000 entry is not used as a base indicator because the evidence does not explain the apparent premium or whether it represents a comparable individual unit. No comparable sizes, bedroom counts, condition details or lease terms are supplied, so the estimate has significant uncertainty.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and obtaining a contractor budget, lease/service-charge information and credible local rental evidence. On the current evidence, avoid bidding on an assumed BTL yield or flip profit.

Works Required

Updating is required, but the evidence does not specify defects or scope. Allow for inspection-led updating of the kitchen, bathroom, decoration and general finishes only where required. Confirm the new 125-year lease, service charge, ground rent, heating and parking arrangements from the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential refinance value is indicated by the supplied same-road sales, with 75% of the £500,000 base GDV equalling £375,000. However, refurbishment costs, finance costs, purchase costs beyond the known £1,800 admin charge, lease costs and lender valuation are unavailable. Cash left in and BRRR viability cannot be calculated reliably.

Buy-to-Let Analysis

Rental evidence is materially inconsistent: advertised asking rents range from £375 pcm to £2,197 pcm, and no auctioneer estimate or achieved rent is supplied. A reliable rent, yield or cash-flow assessment cannot therefore be established. Service charge, ground rent and lease details are also awaited. The £1,800 buyer admin charge is known, while seller fees may apply.

Flip Analysis

The guide is £240,000 and the base GDV estimate is £500,000, but no supported works budget, selling allowance, finance cost or full acquisition-cost figure is available. The apparent gross value gap should not be treated as a flip profit forecast.

Investor Risks & Due Diligence

• Rental evidence ranges from £375 pcm to £2,197 pcm and consists only of advertised asking rents.

• Lease information is awaited, including years remaining, service charge, ground rent and review details, although the sale is stated to be on a new 125-year lease at a peppercorn ground rent.

• Refurbishment scope and cost are not supplied beyond a general requirement for updating.

• Seller fees may be payable under the Special Conditions of Sale and are not quantified.

• The supplied comparable sales lack size, bedroom, condition and lease-detail adjustments.

• Parking and heating arrangements are unconfirmed.

Recommendation

Proceed only after reviewing the legal pack and obtaining a contractor budget, lease/service-charge information and credible local rental evidence. On the current evidence, avoid bidding on an assumed BTL yield or flip profit.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and a stated guide price, but comparable sizes, configurations, conditions and lease terms are absent. Rental evidence is highly inconsistent, works costs are unavailable, and key lease and property-cost information is awaited.