14A Glebe Road, Finchley, London, N3 2AX

Description

A First Floor Two Bedroom Flat Offered with Vacant Possession. The property comprises a first floor two bedroom flat situated within a mid terrace building arranged over ground and first floors.

Accommodation

First 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 Muswell Hill Playing Fields are within easy reach. Transport links are provided by Finchley Central underground station (Northern line).

Tenure / Property Information

Investment Analysis

Recent local flat comparables range from £300,000 to £318,000 for Connections House, with a further £435,000 sale at 14 Glebe Road. Differences in building, size, condition and lease terms mean this is indicative only. A cautious base GDV is £318,000, subject to inspection and legal review.

Investment Snapshot

Strategy Recommendation

Potential BTL only subject to legal-pack review, confirmed lease-extension terms and full costings. Do not proceed on yield alone.

Works Required

No condition defects or refurbishment requirements are evidenced. Inspect the flat and price only any works identified, together with lease-extension requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, 75% refinancing would be approximately £238,500. Cash-left-in cannot be calculated reliably because refurbishment, legal, lease-extension and other completion costs are not supplied. Short lease risk may affect valuation and refinancing.

Buy-to-Let Analysis

The advertised £1,800 pcm rent implies £21,600 annual gross rent and an 11.68% gross yield against the £185,000 guide. This is based on an asking rent, not achieved rent, and excludes service charges, finance, tax, repairs, fees and lease-extension costs. The approximately 46-year lease is a major consideration.

Flip Analysis

A resale surplus cannot be calculated reliably because refurbishment costs, total acquisition costs, selling costs and the appropriate resale value are not sufficiently evidenced. The comparable range is indicative only.

Investor Risks & Due Diligence

• Approximately 46 years remain on the lease.

• Lease-extension terms and costs are not supplied.

• Rental evidence is an advertised asking rent rather than achieved rent.

• Property condition, floor area, service charges and heating information are unavailable.

• Additional disbursements and special-condition charges may be payable.

• Comparable properties may differ in size, condition, building and lease terms.

Recommendation

Potential BTL only subject to legal-pack review, confirmed lease-extension terms and full costings. Do not proceed on yield alone.

Strategy Rating

Analysis Confidence

There are useful local sales and one rental asking, but no floor area, condition survey, service-charge data, lease-extension cost, selling costs or full legal-pack charges.