3 Pilgrims Close, Palmers Green, London

Description

Situated in a cul-de-sac off Broomfield Avenue, close to local shopping and travelling facilities including Palmers Green Train Station. Broomfield House and Arnos Park are also nearby. A self-contained ground floor flat in a purpose-built block with a parking space and communal gardens.

Accommodation

Entrance Hall; Studio Room; Kitchen; Bathroom/WC

Location

Situated in a cul-de-sac off Broomfield Avenue, close to local shopping/travelling facilities including Palmers Green Train Station. Broomfield House and Arnos Park are also nearby.

Tenure / Property Information

Investment Analysis

The supplied sold comparables on Pilgrims Close range from £100,000 to £392,500, with substantial variation and no bedroom, size or condition details. The subject is specifically a ground-floor studio with parking, but the comparables are not sufficiently detailed or directly comparable to support a reliable GDV. The £90,000+ guide plus the £1,500 buyer premium gives an indicative guide-and-premium acquisition figure of £91,500, excluding any applicable seller fees, finance, works and other costs.

Investment Snapshot

Strategy Recommendation

Do not underwrite as a BTL, BRRR or flip without verified rent, tenancy information, condition, leasehold documents and a more comparable valuation. Treat the £90,000+ guide as an auction entry point only, not as evidence of value.

Works Required

No specific defects or refurbishment requirements are evidenced. Confirm internal condition, communal works liabilities, services, compliance and EPC improvement requirements before bidding. The property is currently EPC E, but no upgrade scope or cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because there is no reliable GDV, rent, refurbishment budget or refinance valuation evidence. The long lease and £80 annual ground rent are positive structural points, but leasehold obligations and any seller-completion fees require review.

Buy-to-Let Analysis

The flat is let on an Assured Periodic Tenancy, but no passing rent or sufficiently specific rental evidence is supplied. Rental income and BTL yield therefore cannot be established. Review the tenancy, rent history, deposit protection, arrears position and vacant-possession implications before purchase.

Flip Analysis

A flip surplus cannot be calculated. Although same-development sold prices are supplied, they vary materially and lack subject-comparable details such as size, bedroom count and condition. Selling costs and any refurbishment allowance are also unavailable.

Investor Risks & Due Diligence

• No passing rent or reliable rental comparable is supplied, so rental yield cannot be assessed.

• The sold comparables vary substantially in price and lack size, bedroom and condition details.

• The property is leasehold; service charges, reserve-fund contributions, restrictions and major works exposure are not supplied.

• The property is EPC E, with no evidence of the cost or scope of any required improvement.

• The seller may charge additional completion fees under the special conditions, but no amount is supplied.

• Tenancy terms, rent arrears, deposit protection and possession position are not supplied.

• No condition survey or refurbishment budget is provided.

Recommendation

Do not underwrite as a BTL, BRRR or flip without verified rent, tenancy information, condition, leasehold documents and a more comparable valuation. Treat the £90,000+ guide as an auction entry point only, not as evidence of value.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, occupancy, lease length, ground rent, parking and several same-road sales, but omits subject floor area, passing rent, condition, refurbishment costs, detailed leasehold charges and directly comparable sale characteristics.