13B Algernon Road, Kilburn, London, NW6 6PU

Description

A vacant ground and first floor three bedroom split level flat situated within a mid terrace building arranged over lower ground, ground and first floors. The property requires a program of refurbishment.

Accommodation

Ground Floor: Reception Room; Kitchen. First Floor: Three Bedrooms; Bathroom.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Queen's Park are within easy reach. Transport links are provided by Kilburn Park underground station (Bakerloo line) and Kilburn High Road overground station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-road 15A Algernon Road sale at £524,000 in July 2024, with 16A at £570,000 in August 2022. Older evidence ranges from £397,500 to £435,000. As the comparables' size, condition and exact accommodation are not supplied, £524,000 is used as an indicative base GDV only, not a formal valuation. A supported evidence range is £435,000–£570,000, although the dates and property-specific differences limit reliability.

Investment Snapshot

Strategy Recommendation

Conditional refurbishment-led BTL or resale only after reviewing the legal pack and obtaining a fully costed refurbishment schedule. Do not set a bid or proceed on the supplied evidence alone because the guide price, works budget and additional completion costs are missing.

Works Required

The flat is expressly described as requiring a programme of refurbishment. The works scope, specification and cost are not supplied, so no particular defects or budget can be assumed. Obtain a survey, contractor schedule and legal-pack review before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £524,000 base GDV, 75% refinance is £393,000. Total acquisition and refurbishment cost cannot be calculated because no guide price, refurbishment budget or complete buyer-cost schedule is supplied, so cash left in and equity cannot be established. The approximately 95-year lease is a material consideration for future refinanceability and resale, but the lease terms and charges are not provided.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,500 pcm, equivalent to £30,000 annually; it is not an achieved or guaranteed rent. Against the indicative GDV range, this represents approximately 5.26%–6.90% gross, with approximately 5.73% against the £524,000 base GDV. Acquisition yield cannot be calculated because the guide/purchase price and refurbishment cost are absent. Operating costs, service charge, ground rent, finance and voids are also unavailable.

Flip Analysis

A resale surplus cannot be calculated reliably because the purchase price, refurbishment cost and selling allowance are unavailable. The supplied comparable sales support an indicative GDV range of £435,000–£570,000, but do not establish the subject's achievable resale price because size, condition and specification comparisons are not supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown despite the property requiring a programme of refurbishment.

• The auction guide price and buyer premium are not supplied, preventing bid, total-cost and acquisition-yield calculations.

• Additional search, seller, legal, transfer and other disbursement costs may be payable but are not quantified.

• The rental figure is an advertised asking rent rather than achieved or guaranteed passing rent.

• The approximately 95-year lease may affect future resale and refinancing; detailed lease terms and charges are not supplied.

• The comparable sales have differing dates and no supplied size or condition details, limiting direct valuation reliability.

Recommendation

Conditional refurbishment-led BTL or resale only after reviewing the legal pack and obtaining a fully costed refurbishment schedule. Do not set a bid or proceed on the supplied evidence alone because the guide price, works budget and additional completion costs are missing.

Strategy Rating

Analysis Confidence

There is useful same-road sales evidence, a stated three-bedroom layout, vacancy and one rental asking figure, but no guide price, condition detail, refurbishment cost, EPC, service-charge/ground-rent information or complete auction-cost schedule. Comparable sizes and condition are also unavailable.