14 Wyedale, London Colney, St. Albans, Hertfordshire, AL2 1TG

Description

A Vacant Second Floor Two Bedroom Flat. The property comprises a second floor two bedroom flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Napsbury Park are within easy reach. Transport links are provided by How Wood rail station and the M25.

Tenure / Property Information

Investment Analysis

Five completed sales on Wyedale range from £223,000 to £263,000, with an average of £240,200. The two most recent supplied sales were £235,000. A base GDV of £235,000 is therefore used as an evidence-led estimate, with £223,000 to £263,000 as the supported comparable range. The £120,000 guide represents a substantial discount to these sales, but condition, service charges and legal-pack costs are not provided.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or BRRR purchase because the guide is materially below supplied local completed sales and the advertised rent implies a strong gross yield. Do not bid on the guide alone: review the legal pack, leasehold costs, disbursements and condition first.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance cannot be established without inspection and the legal pack; verify condition, communal responsibilities and any leasehold works obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £235,000, 75% refinancing is £176,250. The apparent margin against the £120,000 guide is attractive before works, finance, tax and transaction costs, but refurbishment costs and total project cost cannot be calculated from the evidence. BRRR viability therefore depends on inspection, the legal pack, leasehold charges and achievable rent.

Buy-to-Let Analysis

The supplied £1,200 pcm figure is an advertised asking rent, not an achieved or passing rent. At the £120,000 guide, this equates to a gross asking-rent yield of 12.0% before finance, service charge, ground rent, maintenance, voids, management, tax and acquisition costs. The net yield cannot be established because these costs and the leasehold service-charge position are not supplied.

Flip Analysis

The evidence supports a base resale value of £235,000, with a comparable range of £223,000 to £263,000. A flip surplus cannot be calculated because refurbishment costs, finance costs, selling costs and any additional purchase charges are not supplied.

Investor Risks & Due Diligence

• The property is leasehold and service charges, ground rent and reserve-fund obligations are not supplied.

• The £1,200 pcm figure is an advertised asking rent rather than achieved or passing rent.

• No condition or refurbishment information is provided, so project costs are unknown.

• Special Conditions may impose disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees.

• The maximum bid and net investment returns cannot be established without full purchase and project costs.

Recommendation

Investigate as a potential buy-to-let or BRRR purchase because the guide is materially below supplied local completed sales and the advertised rent implies a strong gross yield. Do not bid on the guide alone: review the legal pack, leasehold costs, disbursements and condition first.

Strategy Rating

Analysis Confidence

Completed comparable sales, lease term, guide price and advertised rent are supplied, but condition, service charges, ground rent, buyer costs, disbursements, finance assumptions and achieved rent are unavailable.