14 Coniston Court, Kendal Street, Bayswater, London W2 2AN

Description

A second-floor one-bedroom flat in a purpose-built block with lift access, comprising reception room, kitchen, bedroom and bathroom. Leasehold with approximately 59 years unexpired.

Location

Kendal Street is in Bayswater/Paddington, close to Hyde Park, Connaught Village amenities, Marble Arch Underground and Paddington rail station.

Investment Analysis

Investment Snapshot

Property & Refurbishment

I would initially allow £10,000–£18,000 for the works indicated by the listing, investor-grade finishing and contingency. This is an HB/AI feasibility allowance rather than a contractor quotation and should be replaced by survey and itemised trade pricing before bidding.

Rental Analysis

For sensitivity testing I would use an HB market-rent estimate of £2,300–£2,700 pcm. This equates to approximately £27,600–£32,400 per annum and 13.8%–16.2% gross on the guide. At midpoint rent and works, gross yield on guide plus works is about 14.0% before finance, management, maintenance, insurance, compliance, voids and tax.

GDV / Resale Analysis

For feasibility I would use an indicative £425,000–£525,000 completed-value range. This is an AI-assisted investment appraisal estimate and not a formal RICS valuation. Using midpoint assumptions gives an estimated completed value of about £475,000 against guide-plus-midpoint-works of approximately £214,000.

Properties Sold Within Approx. 5 Miles

No sufficiently specific sold comparables were independently verified in this market check. The GDV should therefore be confirmed against recent Land Registry/RICS evidence before bidding.

Potential BRRR Position

At the midpoint GDV of approximately £475,000, a purely illustrative 75% LTV refinance would be around £356,250. Against guide plus midpoint works of approximately £214,000, this should be viewed only as a sensitivity test; lender valuation, construction, lease length, rental stress tests and borrower criteria determine the actual refinance.

Flip Analysis

A resale strategy should be tested against the conservative end of the £425,000–£525,000 GDV range and must deduct acquisition tax, the £1,800 auction administration charge, legal fees, finance, holding costs, refurbishment, contingency and selling costs. Headline uplift is not the same as net profit.

Investor Risks & Due Diligence

• Obtain a specialist lease-extension premium calculation before bidding.




• Check service charge, reserve fund and planned major works in Coniston Court.




• Confirm lender appetite for the current 59-year lease.




• Verify exact floor area against recent Bayswater one-bedroom comparables.

Recommendation

Preferred strategy: Lease Extension / Buy-to-Let / Resale. The final decision should be based on verified works costs, rent, legal position and comparable-supported end value rather than guide price alone.

Strategy Rating

BRRR: ★★★☆☆

Buy-to-Let: ★★★★☆

Flip: ★★★★☆

Development: ★☆☆☆☆