47 Alexandra Court, Empire Way, Wembley, Middlesex, HA9 0QX

Description

A Vacant Third Floor One Bedroom Flat. The property comprises a third floor one bedroom flat situated within a purpose built block arranged over ground and four upper floors.

Accommodation

Third Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of King Edward VII Park are within easy reach. Transport links are provided by Wembley Stadium rail station.

Tenure / Property Information

Investment Analysis

The three supplied recent completed sales within Alexandra Court were £228,000 in 2020, £250,000 in 2021 and £240,000 in 2017. A base GDV estimate of £240,000 is supported by these sales, with a low scenario of £228,000 and high scenario of £250,000. The comparables do not provide bedroom, floor, condition or size details, so this remains an indicative range. The approximately 84-year lease is also relevant to value and resaleability.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a buy-to-let at the guide based on the supplied asking-rent evidence, subject to verifying service charges, ground rent, lease restrictions, condition and achieved local rents. Do not set a maximum bid until the legal pack and full acquisition and refurbishment costs are reviewed.

Works Required

No specific defects or refurbishment requirements are stated. Allowance should be made only after reviewing the legal pack, viewing the flat and confirming its condition, lease terms and any required compliance works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £135,000 guide, the known administration charge is £1,800 including VAT, but refurbishment costs, legal-pack disbursements, finance costs, taxes, service charges and ground rent are unavailable. A 75% refinance against the £240,000 base GDV would be approximately £180,000, but the resulting cash position cannot be established without a complete cost schedule and lender valuation. The approximately 84-year lease may affect refinance terms and valuation.

Buy-to-Let Analysis

The supplied advertised asking rents are £1,700–£1,750 pcm, equivalent to £20,400–£21,000 annually. Against the £135,000 guide, the gross yield is approximately 15.11%–15.56%, before finance, service charge, ground rent, voids, management, maintenance, tax and acquisition costs. These are asking rents rather than achieved rents, and leasehold charges are not supplied.

Flip Analysis

The supplied completed sales support a base resale value of approximately £240,000, with a £228,000–£250,000 range. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs, acquisition taxes, finance costs and legal-pack disbursements are not supplied. The comparables also lack detailed specification and condition information.

Investor Risks & Due Diligence

• Approximately 84 years remain on the lease, which may affect value, mortgageability and resaleability.

• The rental evidence comprises advertised asking rents rather than achieved rents or a passing tenancy.

• No refurbishment or condition information is supplied.

• Service charge, ground rent, council tax, legal-pack disbursements and other leasehold costs are unavailable.

• The completed comparables do not state bedroom count, size, floor or condition, limiting valuation precision.

• The £135,000 guide is stated as plus fees and the £1,800 administration charge is payable; other acquisition costs are not supplied.

Recommendation

Potentially attractive as a buy-to-let at the guide based on the supplied asking-rent evidence, subject to verifying service charges, ground rent, lease restrictions, condition and achieved local rents. Do not set a maximum bid until the legal pack and full acquisition and refurbishment costs are reviewed.

Strategy Rating

Analysis Confidence

Completed sales, asking-rent evidence, tenure, occupancy and lease length are supplied, but comparable specifications, condition, leasehold charges, refurbishment costs, taxes, finance costs and legal-pack disbursements are unavailable.