33 Fairweather Close, Clyde Road, Tottenham, London

Description

Vacant long leasehold self-contained fifth floor studio flat. GIA approximately 35.76 sq m (385 sq ft). The vendor will not accept offers prior to auction.

Accommodation

Reception room/bedroom, kitchen and bathroom; GIA approximately 35.76 sq m (385 sq ft)

Location

Located on the south side of Fairweather Close. The shops and amenities of Wood Green Road are to the south. Seven Sisters underground station (Victoria line) is approximately 0.5 miles south east. A503 to the east and Downhills Park to the west.

Tenure / Property Information

Investment Analysis

The subject is a vacant 385 sq ft self-contained fifth-floor studio flat with a new 990-year lease at a peppercorn ground rent. Two supplied sales on Fairweather Close completed at £160,000 and £186,000, but their sizes, condition and exact specification are not provided. An unadjusted evidence-based GDV range is therefore £160,000–£186,000, with a midpoint base estimate of £173,000. The £82,000+ guide represents a substantial apparent discount to these sales, but the discount cannot be relied upon without confirming condition, service charges, building issues, title, access and any applicable fees.

Investment Snapshot

Strategy Recommendation

Treat as a potential value-led purchase only after confirming title, building and service-charge information, condition, resale comparables and all auction charges. Do not set a bid from the guide alone; rental-led strategies remain untested.

Works Required

No refurbishment works are evidenced. Obtain a survey and confirm the condition of the reception/bedroom, kitchen, bathroom, services and communal areas before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the midpoint GDV estimate, 75% of GDV is approximately £129,750. A cash-left-in or equity calculation cannot be completed because refurbishment costs, buyer/admin charges and other acquisition costs are not supplied. Refinance terms, valuation acceptance and lender criteria are also unconfirmed.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The long lease and peppercorn ground rent are positive features, but service charge, council tax, EPC and other holding costs are unknown.

Flip Analysis

The supplied comparable sales indicate a broad resale benchmark of £160,000–£186,000, with a midpoint of £173,000. A reliable flip surplus cannot be calculated because works, acquisition charges, selling costs and finance costs are unknown.

Investor Risks & Due Diligence

• The two comparable sales have no supplied size, condition or specification details, so the GDV range is indicative only.

• No sufficiently specific rental evidence is available, preventing yield and BTL cash-flow analysis.

• Refurbishment requirements and property condition are not evidenced.

• Buyer premium, admin charge and other seller or third-party charges are unspecified.

• Service charge, council tax, EPC, heating, parking and building information are not supplied.

• The new lease is stated to be granted on completion; title and lease terms should be verified before bidding.

Recommendation

Treat as a potential value-led purchase only after confirming title, building and service-charge information, condition, resale comparables and all auction charges. Do not set a bid from the guide alone; rental-led strategies remain untested.

Strategy Rating

Analysis Confidence

There are two nearby completed sales and clear lease/occupancy information, but comparable sizes and condition, rent, works, service charge, EPC, council tax, buyer fees and other costs are unavailable.