12 Gibraltar House, 1-7 Connaught Road, London

Description

One bedroom flat; double bedroom; second floor; in need of modernisation; Section 21 work paid for; 900 year lease; share of freehold; vacant.

Accommodation

Second Floor - One Bedroom, Reception Room, Kitchen / Breakfast Room, Bathroom / WC

Location

Situated on the junction of Acton Lane. Shopping facilities are available locally on the High Street and Craven Park Road along with a good selection of cafes, bars and restaurants. Recreational facilities can be found at Roundwood Park and King Edward the VII park. Nearby road connections are via the A406 and A40. Transport: Underground Harlesden and Willesden Junction.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or other valuation evidence are supplied, so GDV and a reliable maximum bid cannot be established. The £195,000 guide is the only purchase price evidence. The subject property is advertised at £1,750 pcm, but this is an asking rent rather than achieved or passing rent. Buyer fees are not quantified and VAT may apply.

Investment Snapshot

Strategy Recommendation

Potential BTL subject to inspection, verified achievable rent, service-charge information and a firm modernisation budget. Do not bid beyond a separately validated valuation because GDV and total project cost are unsupported.

Works Required

Modernisation is required, but the supplied evidence does not specify the works. Obtain a detailed inspection and contractor cost plan before bidding. Section 21 work is stated to have been paid for.

Rental & Market Context

Potential BRRR Position

BRRR cannot be reliably underwritten because there is no supported GDV, refurbishment budget or lending-cost information. The 900-year lease, no ground rent and share of freehold are positive tenure features, but refinance value remains unestablished.

Buy-to-Let Analysis

At the £195,000 guide and the supplied £1,750 pcm advertised asking rent, the indicative gross yield is 10.77% before modernisation, finance, management, voids, service charges, insurance, tax and acquisition costs. This cannot be treated as an achieved rent, and total-cost yield cannot be calculated because works and buyer costs are unknown.

Flip Analysis

A flip surplus cannot be calculated because no completed-sale evidence, GDV or refurbishment cost is supplied. Modernisation costs, acquisition charges, selling costs and resale value would all need confirmation.

Investor Risks & Due Diligence

• No completed-sale comparables are supplied, so market value and GDV are unverified.

• The flat is in need of modernisation, but the scope and cost of works are unknown.

• The £1,750 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Buyer fees are not quantified and VAT may apply; total acquisition cost is therefore unknown.

• Service charges, council tax and other running costs are not supplied.

• Vacant possession means there is no existing passing rent to verify.

Recommendation

Potential BTL subject to inspection, verified achievable rent, service-charge information and a firm modernisation budget. Do not bid beyond a separately validated valuation because GDV and total project cost are unsupported.

Strategy Rating

Analysis Confidence

The tenure, occupancy, guide price and one direct advertised rent are provided, but there are no sold comparables, quantified works, buyer fees, service charges, EPC details beyond the rating, or achieved rental evidence.