2 Dane Court, College Road, St. Albans, Hertfordshire, AL1 5NX

Description

This well-positioned ground floor studio apartment presents an excellent opportunity for investors, ideally located within easy walking distance of St Albans City Centre and the mainline railway station. Offering just over 300 sq ft of living accommodation, the property enjoys a pleasant outlook and represents an attractive proposition for both landlords and investors. The property is held on a 99-year lease with approximately 56 years remaining. With the relatively short lease, there may be potential to add significant value through a future lease extension, subject to the usual terms, costs and eligibility. Alternatively, the property could make an appealing rental investment, with its convenient location and proximity to the city centre and railway station offering strong appeal to prospective tenants.

Accommodation

Inside communal entrance with security door and intercom system. Entrance leading to living area measuring 14'5 x 12'0, with double glazed window to front, two electric heaters and open-plan living/bedroom area. Kitchen area measuring 10'10 x 5'8, with double glazed window to rear, fitted wall and base units, sink unit, space for appliances, fitted filter hood and laminate floor. Hallway with airing cupboard and separate storage cupboard. Bathroom measuring 6'0 x 5'0, with double glazed window to rear, panel bath with shower and shower screen over, sink unit, WC and part tiling. Communal gardens laid to lawn.

Location

Close to St Albans City Centre, the mainline railway station and College.

Tenure / Property Information

Investment Analysis

The closest evidence is a £116,000 sale at Dane Court dated 28 January 2026. Older same-address sales were £178,000 in 2020 and £181,000 in 2016, but they may not be comparable because of market timing, flat differences and lease length. The £100,000 guide is below the latest same-address sale, but the approximately 56-year lease, unavailable service-charge and ground-rent information, and possible lease-extension costs materially reduce certainty. A cautious base GDV of £116,000 is used, with £100,000 low and £127,700 high scenarios based on the supplied evidence only.

Investment Snapshot

Strategy Recommendation

Proceed only after legal-pack review and confirmation of lease-extension economics, service charge, ground rent and all auction costs. At the guide, the short lease and unverified rent make this unsuitable for an unconditional BTL or flip decision without further evidence.

Works Required

No specific repair or refurbishment defects are evidenced in the supplied description, so no refurbishment allowance is included. Review the legal pack for lease terms, service charge, ground rent, parking rights and any required works before bidding. Lease extension costs are not included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the base acquisition cost including the stated buyer premium and admin charge is £103,540 before any lease-extension, legal or other costs. A purely mechanical refinance at 75% of the £116,000 base GDV is £87,000, leaving £16,540 of the stated base cost unrecovered before finance and tax. Actual refinanceability is uncertain because approximately 56 years remain on the lease and lease-extension and lender criteria are unknown.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The £920 pcm evidence is an advertised asking rent for a one-bedroom property in AL2, not an achieved rent for this ground-floor studio in AL1. The £103,540 base acquisition cost includes the £100,000 guide plus the stated £2,400 buyer premium and £1,140 admin charge, but excludes unknown service charges, ground rent, legal/search/transfer costs and lease-extension costs.

Flip Analysis

Using the £116,000 base GDV against the £103,540 guide-plus-known-fees cost gives £12,460 before selling costs, finance, tax, lease-extension costs and any other auction charges. A formal flip surplus is not stated because no supported selling-cost allowance or lease-extension cost is available. The margin is therefore not sufficiently robust on the supplied evidence.

Investor Risks & Due Diligence

• Approximately 56 years remain on the lease, potentially restricting mortgageability, resale and requiring a costly lease extension.

• Service charge and ground rent information is unavailable.

• Additional search, seller-cost reimbursement, legal and transfer charges may apply.

• Rental evidence is not directly comparable: the supplied £920 pcm figure is for a one-bedroom property in AL2 rather than this studio.

• Parking rights are unconfirmed and require legal-pack review.

• The EPC is D and the property uses electric heaters, with no running-cost evidence supplied.

Recommendation

Proceed only after legal-pack review and confirmation of lease-extension economics, service charge, ground rent and all auction costs. At the guide, the short lease and unverified rent make this unsuitable for an unconditional BTL or flip decision without further evidence.

Strategy Rating

Analysis Confidence

There is a recent same-address sale and known guide/auction charges, but the exact comparable characteristics, rent, service charge, ground rent, lease-extension cost, parking rights and additional fees are unavailable.