16C Bury Street, Edmonton, London

Description

A First Floor Two Bedroom Flat Subject to a Periodic Tenancy Producing £19,200 Per Annum. The property comprises a first floor two bedroom flat situated within a semi detached house arranged over ground and first floors. By Order of the LPA Receivers.

Accommodation

First Floor: Reception Room with Open-Plan Kitchen; Two Bedrooms; Bathroom

Location

Situated on a residential road close to local shops and amenities. The open spaces of Jubilee Park are within easy reach. Transport links are provided by Ponders rail station.

Tenure / Property Information

Investment Analysis

Indicative GDV is based primarily on the nearby 16B Bury Street sale at £195,000. The Lilium Court evidence ranges from £220,000 to £285,000 but appears inconsistent and may not be directly comparable. The approximately 50-year lease and periodic tenancy materially limit certainty.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-led purchase if the tenancy, lease terms, service charges and lenderability are acceptable. Do not rely on BRRR or flipping without confirmed lease and valuation advice.

Works Required

No specific works are evidenced. Allowance assumes no refurbishment, subject to inspection and legal-pack review.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, 75% refinancing is approximately £146,250, slightly above the £141,800 guide-plus-admin basis before disbursements or works. The approximately 50-year lease may restrict lender appetite and valuation, so refinance is uncertain.

Buy-to-Let Analysis

The stated passing rent is £19,200 per annum, equating to 13.71% on the £140,000 guide or 13.54% including the £1,800 admin charge. Advertised market rents support approximately £1,600–£1,750 pcm. However, the short lease, tenancy position and unknown additional charges require caution.

Flip Analysis

A base £195,000 GDV indicates £53,200 gross margin against the guide plus known admin charge, before selling costs, legal-pack charges, lease-related costs, finance, tax and any works. The margin is not sufficiently reliable to establish a flip surplus.

Investor Risks & Due Diligence

• Approximately 50 years remain on the lease.

• Periodic tenancy and vacant-possession position require legal review.

• Additional disbursements, searches, seller costs, legal fees and transfer fees may apply.

• No condition survey or refurbishment cost evidence is supplied.

• Comparable sale evidence is inconsistent and may not be directly comparable.

• Short lease may restrict mortgage and refinance availability.

Recommendation

Consider only as a cautious income-led purchase if the tenancy, lease terms, service charges and lenderability are acceptable. Do not rely on BRRR or flipping without confirmed lease and valuation advice.

Strategy Rating

Analysis Confidence

Passing rent, guide, one nearby sale, additional sales evidence and advertised rents are available, but condition, service charges, lease details, buyer costs and direct comparability are incomplete.