247A Shakespeare Avenue, Hayes, Middlesex, UB4 9AQ

Description

A Vacant First Floor Two Bedroom Maisonette. The property comprises a first floor two bedroom maisonette situated within a semi detached building arranged over ground and first floors. The property requires a program of refurbishment and repairs.

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 Belmore Playing Field are within easy reach. Transport links are provided by Northolt underground station (Central line) and Southall rail station.

Tenure / Property Information

Investment Analysis

Recent same-road completed sales range from £280,000 to £307,000, with the two latest sales at £295,000 and £307,000. A base GDV of £295,000 is used, with a low scenario of £280,000 and high scenario of £307,000. However, the comparables' lease terms and condition are not supplied, while this property has approximately 26 years unexpired, so the GDV estimate is materially uncertain and may not be directly comparable.

Investment Snapshot

Strategy Recommendation

Do not bid on the available evidence without reviewing the legal pack, confirming lease-extension implications and obtaining a detailed refurbishment budget. The short lease makes this unsuitable for an unconditional BTL, BRRR or flip decision based solely on the headline GDV.

Works Required

Refurbishment and repairs to the vacant two-bedroom maisonette, including the kitchen, bathroom, reception room and bedrooms as required. The evidence does not identify specific defects or provide a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £295,000 base GDV would indicate £221,250 gross borrowing before lender and valuation constraints. The short approximately 26-year lease, unknown refurbishment cost and unknown comparable lease terms make both the achievable refinance valuation and cash left in uncertain. No robust BRRR return can therefore be established.

Buy-to-Let Analysis

The only rental evidence is a £2,015 pcm advertised asking rent, equivalent to £24,180 annually; this is not an achieved rent. Using the £135,000 midpoint of the guide range gives an indicative gross yield of 17.91% before refurbishment, the £1,800 administration fee, disbursements, finance, service charges, tax and other costs. A reliable net BTL assessment cannot be completed because works, lease-related costs and running costs are unknown.

Flip Analysis

The recent same-road sales provide an indicative resale range of £280,000 to £307,000, but the subject's short lease and refurbishment requirement may materially reduce achievable resale value. A flip surplus cannot be calculated because refurbishment costs, acquisition costs beyond the known administration fee and selling costs are not sufficiently evidenced.

Investor Risks & Due Diligence

• Approximately 26 years remain on the lease, which may materially restrict mortgageability, resale value and refinance options.

• The property requires refurbishment and repairs, but no detailed scope or cost estimate is supplied.

• The £2,015 pcm figure is an advertised asking rent rather than achieved rent.

• The comparable sales' lease lengths and condition are not supplied, limiting direct valuation comparison.

• A £1,800 administration fee is payable, with possible additional disbursements under the legal pack.

• Council tax, heating and other property running-cost information is not supplied.

Recommendation

Do not bid on the available evidence without reviewing the legal pack, confirming lease-extension implications and obtaining a detailed refurbishment budget. The short lease makes this unsuitable for an unconditional BTL, BRRR or flip decision based solely on the headline GDV.

Strategy Rating

Analysis Confidence

There are several relevant completed same-road sales and one advertised rental, but the comparable lease terms, property condition, refurbishment costs, service charges, lease-extension costs and full acquisition/selling costs are unavailable.