27 Avenue Gardens, Ealing, London

Description

Of interest to developers and investors. A freehold residential investment. The property comprises of five self-contained flats arranged as (2x1 bedroom, 3x2 bedrooms). The property is partially tenanted and when full rented produces a combined rental income of approximately £89,400 per annum. Planning permission previously granted (now expired) with conditions. Excavation to provide a basement level with associated lightwells; single storey, part three-storey side extension and two-storey rear extension (following demolition of exiting side and rear extensions). Please refer to the legal pack for further details.

Accommodation

Five self-contained flats: Flat 1 £1,350 PCM; Flat 2 £1,550 PCM; Flat 3 £1,450 PCM - now vacant; Flat 4 £1,350 PCM; Flat 5 £1,800 PCM. Arranged as two 1-bedroom flats and three 2-bedroom flats.

Location

The property is situated on Avenue Gardens and can be accessed via Avenue Road. It is in a well-established residential area of Ealing, benefiting from local shopping facilities, schools, cafés and restaurants. Transport links include Acton Town and South Acton.

Tenure / Property Information

Investment Analysis

The £1,400,000 guide is the only supplied pricing evidence. No completed sales, external rental comparables, GDV evidence, refurbishment budget or formal valuation has been provided. The stated full-rent estimate is approximately £89,400 per annum, while the individual accommodation figures total £7,500 PCM (£90,000 per annum). On the auctioneer estimate, the gross yield at the guide is approximately 6.39%, before operating costs, voids, finance, taxes and acquisition charges.

Investment Snapshot

Strategy Recommendation

Treat primarily as a potential income investment subject to legal-pack, tenancy, rent and condition due diligence. Do not underwrite the expired planning scheme or bid above a level supported by verified rents, costs and valuation.

Works Required

No current condition assessment or priced works schedule is supplied. The expired planning description proposed basement excavation with lightwells, a single-storey/part three-storey side extension and a two-storey rear extension following demolition of existing side and rear extensions. Any works, permissions and conditions require legal and planning review.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported GDV, refurbishment cost, lender valuation, finance cost or acquisition-fee schedule. The expired planning proposal may offer development potential, but permission status, conditions, viability and construction costs require verification.

Buy-to-Let Analysis

At the £1,400,000 guide, the auctioneer's fully-let estimate of £89,400 per annum implies approximately 6.39% gross yield. The five flats are only partially tenanted and Flat 3 is vacant, so the stated figure is a full-occupancy estimate rather than confirmed passing rent. Net yield cannot be established because operating costs, voids, management, maintenance, finance and acquisition charges are unavailable.

Flip Analysis

A flip appraisal cannot be completed. No completed comparable sales, supported GDV, refurbishment budget, selling costs or current-condition evidence is supplied. The expired planning permission should not be treated as an implemented or current value uplift.

Investor Risks & Due Diligence

• Partially tenanted investment with Flat 3 vacant; the stated £89,400 per annum is an estimate when fully rented, not confirmed passing rent.

• Buyer premium, VAT, seller charges and other acquisition costs are unspecified.

• Previously granted planning permission has expired and its conditions, renewal prospects and development viability are unverified.

• No refurbishment or construction cost evidence is supplied despite the described development proposals.

• No completed sales or sufficiently specific external rental comparables are supplied.

• Net income and net yield cannot be assessed because operating expenses, maintenance, management, voids and finance costs are unavailable.

• The legal pack may contain additional obligations, charges or VAT provisions that are not quantified in the supplied evidence.

Recommendation

Treat primarily as a potential income investment subject to legal-pack, tenancy, rent and condition due diligence. Do not underwrite the expired planning scheme or bid above a level supported by verified rents, costs and valuation.

Strategy Rating

Analysis Confidence

The property composition, tenure, guide price and indicative rents are supplied, but there are no completed comparables, current passing-rent schedule, condition report, works costs, GDV evidence or quantified buyer and seller charges.