13 Drayton Road, London, London, N17 6HJ

Description

The auctioneers were unable to inspect the property at the time of print. It is understood the property may have been converted into a HMO; however, no licence or planning appears to be in place. Purchasers are deemed to rely upon their own enquiries in this respect. The property is being sold by the mortgagees not in possession. No keys will be provided upon the sale of the property.

Accommodation

The auctioneers were unable to inspect the property at the time of print. It is understood the property may have been converted into a HMO; however, no licence or planning appears to be in place.

Location

The property is located on Drayton Road. Shopping amenities are available locally, with a further range of amenities found within Central London to the south west. Public transport links are available at Bruce Grove London Overground Station to the east and Seven Sisters London Underground Station, Victoria Line, to the south east, along with local bus services. Road links include the A10 to the east. Lordship Recreation Ground lies to the west.

Tenure / Property Information

Investment Analysis

The five supplied same-road freehold terraced comparables sold for £510,000–£700,000 between 2019 and 2023. However, the subject property could not be inspected, its bedroom count and accommodation are unknown, and its condition and possible HMO configuration are unverified. The comparables therefore do not support a reliable subject-specific GDV or bid limit.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after satisfactory legal, occupancy, access, planning, HMO licensing, condition and cost due diligence; otherwise treat as unsuitable for a reliable BTL, BRRR or flip appraisal.

Works Required

No inspection was possible and no keys will be provided, so a works scope or cost cannot be specified. Establish the existing layout, condition, HMO planning position, licensing requirements and any required remedial works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be underwritten because the subject condition, lawful use, accommodation, refurbishment cost, rent and GDV are unverified. The possible absence of HMO planning or licensing creates additional use and compliance uncertainty. The known £1,800 buyer administration charge would apply, with possible additional seller fees.

Buy-to-Let Analysis

A BTL yield cannot be established. The only rental evidence is an advertised £5,150 pcm asking rent for a separate two-bedroom property, while the subject bedroom count, accommodation and possible HMO status are unknown. Occupancy and any existing tenancy position are also unconfirmed.

Flip Analysis

A flip surplus cannot be calculated. Although same-road sold comparables range from £510,000 to £700,000, the subject cannot be inspected and no supported works, selling allowance or subject-specific GDV is available. The mortgagee-not-in-possession sale and lack of keys increase execution uncertainty.

Investor Risks & Due Diligence

• No internal inspection was possible and no keys will be provided.

• Occupancy status is unconfirmed.

• The property may have been converted into an HMO without confirmed planning permission or an HMO licence.

• The seller is the mortgagee not in possession.

• Bedroom count, layout, condition, heating and parking are unconfirmed.

• EPC is to be confirmed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• The available £5,150 pcm rent is an advertised asking rent for a separate two-bedroom property, not confirmed subject rent.

Recommendation

Do not bid on the current evidence alone. Proceed only after satisfactory legal, occupancy, access, planning, HMO licensing, condition and cost due diligence; otherwise treat as unsuitable for a reliable BTL, BRRR or flip appraisal.

Strategy Rating

Analysis Confidence

The property was not inspected, keys are unavailable, bedrooms and accommodation are unknown, occupancy is unconfirmed, EPC is pending, and the possible HMO use and compliance position are unresolved. Available rent evidence is not subject-specific.