36 Addison Road, Kensington, London, W14 8JH

Description

Vacant freehold end terrace Grade II listed house presented in shell condition. The above description reflects the property's previous layout and accommodation. Prospective purchasers are deemed to have relied solely upon their own inspections and enquiries and will be deemed to bid accordingly. By order of Receivers.

Accommodation

Previous layout: Lower Ground Floor - two reception rooms, bedroom, kitchen, WC and shower room; Ground Floor - reception room, kitchen, room and WC; First Floor - three bedrooms and bathroom. The property is now presented in shell condition. Rear garden. GIA approximately 201.41 sq m (2,168 sq ft), source: Historic Valuation Report.

Location

Situated on the south side of Addison Road, to the north of its junction with High Street Kensington. Local shops and amenities are available along Kensington High Street, with further extensive amenities within Earl's Court. High Street Kensington underground station is 0.6 miles to the north east. The A315 (Kensington High Street) provides access onto the A4. Holland Park is approximately 0.3 miles to the north and Kensington Gardens is approximately 0.6 miles to the east. Kensington Olympia Station is within walking distance.

Tenure / Property Information

Investment Analysis

The most relevant evidence is the same property, recorded as sold for £2,050,000 on 4 November 2024. This is a completed sale but provides no detail on its condition, specification, works or sale circumstances. Other Addison Road sales range from £4,400,000 to £7,600,000 but are older and their size, condition and specification are not supplied, so they are not reliable direct comparables. A base GDV of £2,050,000 is therefore used solely as the latest same-property evidence, without applying an unsupported adjustment for the current shell condition or Grade II listing.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Consider only after a full inspection, listed-building/planning review, measured scope of works, contractor pricing and confirmation that the all-in cost leaves adequate margin below the supported £2,050,000 reference value.

Works Required

Complete the property from shell condition, including reinstatement of accommodation, services, finishes and external/rear garden works only where confirmed by inspection. All works should be assessed against the Grade II listed status and any required consents. No reliable cost allowance can be calculated from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the supplied base GDV, 75% refinancing equates to £1,537,500. However, the shell condition, Grade II listing, unknown refurbishment cost, unknown acquisition charges and unconfirmed post-works accommodation prevent a reliable BRRR equity or cash-left-in calculation. The latest same-property sale suggests potential value support, but not sufficient evidence of project profit.

Buy-to-Let Analysis

A BTL yield cannot be established reliably. The supplied rents are advertised asking rents for 5-bedroom and 7-bedroom houses, while the subject's bedroom count is blank and its previous layout is not confirmed as the current layout. Refurbishment costs, operating costs, finance costs and acquisition charges are also unavailable.

Flip Analysis

A flip assessment cannot be completed reliably because refurbishment costs, acquisition costs, selling costs and the property's post-works specification are not supplied. The £2,050,000 same-property sale is a useful reference point but does not establish that the current shell-condition property can achieve that value without substantial and consented works.

Investor Risks & Due Diligence

• Shell condition creates substantial unknown refurbishment scope and cost.

• Grade II listed status may restrict works and require listed-building consent.

• The property's current bedroom count and final accommodation are unconfirmed.

• The same-property sale does not disclose condition, specification or transaction circumstances.

• Buyer, administration, seller and third-party charges are not supplied.

• Rental evidence relates to different bedroom counts and consists of advertised asking rents rather than achieved rents.

• No EPC, council tax, heating or parking information is supplied.

Recommendation

Do not bid on the current evidence alone. Consider only after a full inspection, listed-building/planning review, measured scope of works, contractor pricing and confirmation that the all-in cost leaves adequate margin below the supported £2,050,000 reference value.

Strategy Rating

Analysis Confidence

There is strong identity evidence from a recent same-property completed sale, but the current shell condition, refurbishment cost, bedroom layout, rental potential, fees and listed-building requirements are insufficiently quantified.