39 Westbourne Terrace, Paddington, London

Description

Vacant self-contained lower ground floor flat with significant potential for refurbishment. The property has been in the same ownership for 45 years.

Accommodation

Reception room, kitchen, bedroom, bathroom and two store rooms. Access to an external store room and a section of rear patio. GIA approximately 80 sq m (861.11 sq ft), source: EPC.

Location

Situated on the north east side of Westbourne Terrace, in the heart of Paddington. Shops, cafés and amenities are available nearby. Paddington rail station is 0.4 miles to the north. Paddington underground station provides access to Bakerloo, Circle, District, Hammersmith & City and Elizabeth lines. The A501 is to the north and Hyde Park is easily accessible.

Tenure / Property Information

Investment Analysis

Nearby Land Registry sales range from £630,000 to £1,700,000, but the evidence does not provide comparable floor areas, layouts, condition or directly equivalent lower-ground-floor configurations. The sales therefore indicate local value context only and do not support a reliable GDV for this flat.

Strategy Recommendation

No bid recommendation can be made from the supplied evidence. Obtain the guide price, inspect the flat, cost the refurbishment and verify lease/title and all additional charges before considering a refurbishment-led resale or rental strategy.

Works Required

Refurbishment of the existing reception room, kitchen, bedroom, bathroom and two store rooms, subject to inspection. The evidence supports refurbishment potential but does not specify defects, specification or required structural works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because the purchase price, refurbishment allowance, rent and supported GDV are unavailable. Refinance proceeds at 75% of GDV cannot be calculated.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent, gross yield and BTL affordability cannot be established. The flat is stated to have vacant possession and a new 200-year lease at a peppercorn ground rent.

Flip Analysis

A flip appraisal cannot be quantified. The nearby sold evidence is not sufficiently specific to establish GDV, and no purchase price, works budget, selling allowance or auction fees are supplied.

Investor Risks & Due Diligence

• No guide price or buyer/admin fee information is supplied, preventing a purchase-cost and maximum-bid calculation.

• No sufficiently specific rental evidence is available, so rental income and yield cannot be established.

• The property is described as having significant refurbishment potential, but the scope and cost of works are not documented.

• The sold comparables differ in unidentified size, layout and condition, so they do not establish a reliable subject GDV.

• Additional seller or third-party charges may apply.

• Leasehold title, including the new lease terms and rights relating to the external store room and rear patio section, should be verified.

Recommendation

No bid recommendation can be made from the supplied evidence. Obtain the guide price, inspect the flat, cost the refurbishment and verify lease/title and all additional charges before considering a refurbishment-led resale or rental strategy.

Strategy Rating

Analysis Confidence

Nearby completed sales and the subject's size, tenure and accommodation are supplied, but there is no guide price, rental evidence, condition specification, refurbishment cost, auction charges or directly comparable unit data.