38b, St. Elmo Road, Shepherds Bush, London

Description

Long leasehold first floor self-contained flat requiring updating. By order of a major housing association.

Accommodation

Entrance hall, studio room, kitchen, bathroom/WC

Location

Situated on St Elmo Road, located off Askew Road and well positioned for local amenities, Shepherds Bush, Chiswick and Hammersmith. Transport options include local bus routes, a choice of Shepherds Bush, Acton Central, Ravenscourt Park and Stamford Brook stations.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are on the same road but their bedroom counts, floor areas, condition and lease details are not provided. Their prices range from £340,000 to £915,000 and therefore do not support a reliable studio-flat valuation. The guide is £159,000, with a known £1,800 inclusive-of-VAT contract documentation fee, but refurbishment costs, service charge, seller fees and other lease details remain unknown. No supported GDV, bid limit or project-return calculation can therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on an assumed flip or BRRR basis until the new lease, service charge, seller fees, studio-specific valuation and refurbishment quotations are verified. The property may warrant further investigation for owner occupation or investment, subject to those checks.

Works Required

Update the first-floor studio flat as supported by the description, covering the kitchen, bathroom/WC, studio room and entrance hall as required. The evidence does not specify individual defects, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be established because there is no supported studio GDV, refurbishment budget, rent, service-charge figure or refinance valuation. The proposed new 125-year lease at a peppercorn ground rent is positive in principle, but the remaining lease and other lease terms are still awaited.

Buy-to-Let Analysis

BTL assessment cannot be quantified reliably. The supplied rental evidence is for one- and two-bedroom flats, not a studio, and the auctioneer has provided no rent estimate. Service charge and any seller fees are also unknown. Obtain studio-specific achieved or advertised evidence and full lease costs before underwriting.

Flip Analysis

A flip appraisal is not supportable from the evidence. Same-road sales are available, but their sizes, layouts, bedroom counts, condition and lease terms are unknown, while updating costs and any selling allowance are not provided.

Investor Risks & Due Diligence

• Lease information is incomplete, including service charge, ground-rent details and review provisions despite the stated new 125-year peppercorn lease.

• The sold comparables do not identify bedroom counts, floor areas, condition or lease terms, limiting their relevance to this studio.

• No studio-specific rental evidence or auctioneer rent estimate is provided.

• The flat requires updating, but the nature and cost of the works are unspecified.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating information is unavailable.

Recommendation

Do not bid on an assumed flip or BRRR basis until the new lease, service charge, seller fees, studio-specific valuation and refurbishment quotations are verified. The property may warrant further investigation for owner occupation or investment, subject to those checks.

Strategy Rating

Analysis Confidence

The property description, guide, tenure, vacancy and one known buyer charge are supplied, but essential valuation, rent, lease-cost, condition and project-cost evidence is missing.