38 Churchill Place, Sandridge Close, Harrow, Middlesex HA1 1XY

Description

2 Bed Flat let on a very low rent - Gross Yield 7.7% In the same family ownership for over 25 years 6 Week Completion Located within this modern three storey purpose-built block comprising a Self-Contained 2 Bed Flat on the first floor. The property benefits from: Gas central Heating uPVC Double Glazing Video Entry Phone Communal Garden area Tenure: Leasehold (by way of an extension) for a term from 9th August 2024 to 26th January 2201 (thus having approx. 175 years unexpired) at a peppercorn ground rent. Tenancy: The property is let on a Periodic Tenancy (formerly an AST) to an Individual at a very low current rent of £9,600 per annum exclusive (£800 pcm) (see Note 1).

Accommodation

(measurements to maximum points) First Floor Flat Bedroom 1 16'4” × 9'5" Bedroom 2 14'2” × 10'10” Living Room 16'4” × 13'7” Kitchen 10'0” × 8'0” Bathroom/ WC 7'10” × 5'7” GIA Approx. 824 sq ft

Location

Located close to the junction with Marlborough Hill in this densely populated residential area, almost opposite Harrow & Wealdstone Station (Overground & Bakerloo Line) and less than a mile north of the multiple shopping facilities of Station Road and the St Ann's Shopping Centre. Harrow is a thriving commercial hub located between Stanmore, Pinner and Wembley, with good road links to the A40, A406 and M1 and approx. 11 miles north-west of Central London.

Auctioneer Source Facts

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Commercial Investment. Verify the legal pack, tenancy schedule, title, condition, finance and local market evidence before fixing a maximum bid.

Works Required

Obtain a survey and contractor quotations. Allow for services, compliance, repairs, decoration and any structural, roofing, fit-out, common-parts or development works identified.

Rental & Market Context

Where the auctioneer publishes passing rent, that figure should take priority over HB modelling. Otherwise, HB income/value figures are indicative appraisal ranges and require local verification.

Sold within approximately 5 miles

Check recent HM Land Registry transactions and closely matched commercial or residential comparables for tenure, covenant, size, condition and location.

Potential BRRR Position

Refinance potential depends on lender valuation, lease/title, income covenant, completed condition and stress testing. Commercial and mixed-use assets may require specialist finance.

Flip Analysis

Any resale margin must include SDLT, auction/legal fees, finance, holding costs, professional fees, contingency, selling costs and tax.

Investor Risks & Due Diligence

• Read the complete legal pack and special conditions

• Verify tenure, occupational leases and rent schedule

• Inspect condition and obtain contractor quotations

• Confirm planning/use class and development constraints

• Confirm finance, VAT and insurance position

• Allow for Barnett Ross administration fee and any seller costs in the legal pack

Recommendation

Proceed only where verified total project cost and income support the intended commercial investment strategy with adequate contingency and margin.

Strategy Rating

Commercial Income: ★★★★☆ | Development: ★★★☆☆ | Resale: ★★★☆☆