323 Long Lane, Hillingdon

Description

The property comprises a freehold asset management opportunity occupying a prominent pitch on a popular parade. Arranged as a ground floor retail unit with residential upper parts sold off on a long leasehold, the property is offered with vacant possession to the ground floor and would be suitable for a variety of occupiers. The ground floor was previously let to William Hill at a rent of £18,000 per annum.

Accommodation

Ground floor retail unit and residential upper parts; 553 sq ft (51.4 sq m)

Location

The property occupies a prominent pitch on a popular parade fronting Long Lane, an arterial route which serves as the principal retail amenity for the surrounding residential area.

Tenure / Property Information

Investment Analysis

The £180,000 guide equates to approximately 10.0% gross income yield against the former ground-floor rent of £18,000 per annum, but that rent is historic and not a current passing rent. The upper parts are sold off on a long leasehold with a £50 per annum ground rent. The supplied sold comparables are on the same road but provide insufficient detail on size, use, condition and title interests for a reliable valuation. The £1,910,000 transactions also appear materially different or are insufficiently explained. A supported GDV, refurbishment budget and maximum bid cannot therefore be established. Buyer fees, possible VAT and seller charges are also unknown.

Investment Snapshot

Strategy Recommendation

Treat as a commercial income purchase only if inspection, legal review and current rental appraisal support the historic £18,000 rent. Bid conservatively after allowing for vacancy, unknown buyer/VAT charges and the limited freehold interest; do not rely on a flip or BRRR strategy.

Works Required

No physical defects or refurbishment requirements are evidenced. The ground floor is vacant, so the immediate requirement is inspection, legal review, compliance verification and marketing or reletting; any physical works remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no supported GDV, refurbishment cost, finance cost or current rent is available. The 75% refinance amount and cash left in are therefore unsupported. The long-leasehold upper parts limit the freehold income interest to the ground-floor commercial unit plus £50 annual ground rent.

Buy-to-Let Analysis

The former ground-floor rent of £18,000 per annum, equivalent to £1,500 pcm, implies a 10.0% gross yield on the £180,000 guide. This is only historic rental evidence, not a current achieved or passing rent, and the unit is vacant. The upper residential parts are sold off and should not be treated as available rental income. Reletting demand, achievable rent, tenant covenant and operating costs require verification.

Flip Analysis

A flip case cannot be quantified from the evidence. There is no supported GDV, condition-based works budget, resale cost allowance or evidence that the upper parts can be redeveloped or reconfigured. The supplied same-road comparables are not sufficiently detailed or directly comparable.

Investor Risks & Due Diligence

• Ground-floor retail unit is currently vacant and the £18,000 rent is historic rather than passing income.

• Upper residential parts are sold off on a long leasehold, limiting the retained freehold interest.

• Buyer premium, VAT and other seller charges are not quantified.

• No condition, compliance, EPC or services information is supplied.

• Same-road sold comparables lack sufficient detail to support a reliable valuation.

• Future reletting rent, void period and tenant covenant are unverified.

Recommendation

Treat as a commercial income purchase only if inspection, legal review and current rental appraisal support the historic £18,000 rent. Bid conservatively after allowing for vacancy, unknown buyer/VAT charges and the limited freehold interest; do not rely on a flip or BRRR strategy.

Strategy Rating

Analysis Confidence

The guide, title structure, historic rent and some same-road sales are supplied, but there is no current rent, condition report, EPC, detailed comparable information, works budget, GDV evidence or confirmed auction costs.