1B Station Parade, Northolt Road, HARROW, Middlesex, HA2 8HB

Description

Leasehold second floor self-contained flat requiring modernisation. By order of a Major Housing Association. Full vacant possession.

Accommodation

Second floor: two bedrooms, reception room, kitchen, bathroom/WC and hallway. Gross Internal Area: approximately 50 sq m (533 sq ft).

Location

The property is situated on Station Parade, Northolt Road between its junctions with Alexandra Avenue and Westwood Avenue. Public transport links include South Harrow Underground Station (Piccadilly Line) and Northolt Park mainline Station, together with local bus services. Road links include the A312 and the A40 Western Avenue. Shopping amenities can be found locally within South Harrow, with shops, bars and restaurants in Harrow Town Centre and St Ann’s Shopping Centre. Recreational pursuits can be found at Roxeth Recreation Ground, Alexandra Park and Harrow Recreation Ground.

Tenure / Property Information

Investment Analysis

The five supplied completed-sale entries are identical £181,590 sales for flats/maisonettes on Station Parade, dated 12 November 2021. They provide a useful local reference, but no individual size, condition, lease-length or transaction-detail differences are supplied. The subject is approximately 533 sq ft, requires modernisation and has approximately 55 years remaining on the lease as at the auction date. Accordingly, £181,590 is used as an indicative base GDV only; current value, lease-shortening impact and modernised resale value remain uncertain.

Investment Snapshot

Strategy Recommendation

Do not commit at the guide without reviewing the legal pack, confirming the exact lease term and all ground-rent/service-charge provisions, inspecting the required modernisation and obtaining current resale and rental evidence. Proceed only if the short lease, works and all costs are satisfactorily priced.

Works Required

Modernisation of the flat as required, with the scope, specification and cost to be confirmed by inspection. No specific defects or systems are evidenced, and heating, parking, service charge, ground rent and lease-review terms require confirmation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the supplied 2021 local sale evidence, the indicative base GDV is £181,590 and 75% of that is £136,192.50. Refurbishment cost, service charges, ground rent, seller fees and other acquisition costs are unknown, so total project cost, equity requirement and cash left in cannot be calculated. Lease length and mortgageability require specialist confirmation before relying on refinance assumptions.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The flat is vacant, and service charge, ground rent and other ownership costs are unknown. The approximately 55-year lease may also affect lender and tenant-marketability assessment, subject to lender policy.

Flip Analysis

A flip appraisal cannot be completed reliably because the modernisation allowance and selling costs are unsupported. The supplied £181,590 sales are from November 2021 and do not establish a current post-works resale value. The indicative base GDV should therefore not be treated as a formal valuation.

Investor Risks & Due Diligence

• Approximately 55 years remain on the lease as at the auction date; extension terms and lender acceptability are unconfirmed.

• Modernisation scope and cost are not provided.

• Annual service charge and ground rent, including review provisions, are unknown.

• No sufficiently specific rental evidence is available, preventing yield assessment.

• The comparable sales are dated 12 November 2021 and may not represent current market value.

• Additional seller fees may be payable under the special conditions but are not supplied.

• Parking and heating details are unknown.

Recommendation

Do not commit at the guide without reviewing the legal pack, confirming the exact lease term and all ground-rent/service-charge provisions, inspecting the required modernisation and obtaining current resale and rental evidence. Proceed only if the short lease, works and all costs are satisfactorily priced.

Strategy Rating

Analysis Confidence

There is local completed-sale evidence and a stated floor area, but it is dated 2021, lacks condition and lease comparability detail, and provides no rent, works budget, service charge, ground rent, parking, heating or seller-fee information.