38 Wood Lane, Kingsbury, London NW9 7NS

Description

1 Bed Maisonette - Gross Yield 8% In the same family ownership for over 20 years 6 Week Completion enjoys good road links to the A406 North Circular Road and the M1, is only 2 miles north of Wembley Arena & Stadium, 2 miles west of Brent Cross Shopping Centre and approx. 8 miles north-west of Central London. PROPERTY Forming part of a terraced property comprising a purpose-built Self-Contained 1 Bed Maisonette at ground floor level benefitting from uPVC double glazing and with sole use of the Rear Garden. In addition, the property includes the Front Garden to the right hand side of the path leading to the front door (see Note 1). Tenure: Leasehold for a term of 125 years from 29th September 1993 at a current ground rent of £200 p.a. rising to £300 p.a. in 2053 and £400 p.a. in 2083. Tenancy: The property is let to The Mayor and Burgesses of the London Borough of Harrow on a 2 year lease from the 24th March 2023 at a current rent of £9,948 per annum exclusive (£829 pcm). Holding Over - The Landlord can terminate the lease on 6 months' notice and the Tenant can terminate on 3 months' notice.

Accommodation

Ground Floor 1 Bed Maisonette (Floor area and room measurements to follow)

Location

Located close to the junction with Church Lane and its local shopping and restaurants, in this popular residential enclave only a short walk from the Welsh Harp Open Space and Brent Reservoir and only 500 yards from the Fryent Country Park. The property enjoys good road links to the A406 North Circular Road and the M1, is only 2 miles north of Wembley Arena & Stadium, 2 miles west of Brent Cross Shopping Centre and approx. 8 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: ★★★☆☆