48A, Ashford Road, London, NW2 6TT

Description

Leasehold ground floor flat with two bedrooms, reception room, kitchen, shower room/WC and rear garden.

Accommodation

Two bedrooms, reception room, kitchen, shower room/WC, rear garden.

Location

Located on Ashford Road. Local shopping amenities are available in Cricklewood, with further shops, bars and restaurants in Central London to the south east. Public transport links include Cricklewood Train Station to the north east, Brent Cross West Train Station to the north and local bus services. Road links include the A41 to the east and M1 to the north. Gladstone Park is to the west.

Tenure / Property Information

Investment Analysis

The £413,000 July 2023 sale was for 48 Ashford Road, not expressly 48A, and no adjustment is evidenced for the subject flat's approximately 54–55 years remaining lease. The £187,000 2004 sale is historic. The £230,000 guide is not a formal valuation. A current GDV cannot therefore be established reliably from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Proceed only after legal review of the 54–55 year lease, confirmation of all service-charge and ground-rent liabilities, inspection, and an independent short-lease valuation.

Works Required

No refurbishment defects or works are evidenced. Obtain a full inspection and confirm the condition of the kitchen, shower room, decoration, services and rear garden before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable because current GDV, refurbishment cost, service charges, ground rent, lease-extension cost and achievable rent are not evidenced. The short remaining lease may also restrict refinance options and loan terms.

Buy-to-Let Analysis

BTL viability cannot be established reliably. The only supplied rental evidence is a generic advertised £300 pcm listing for a two-bedroom property in Cheviot Gardens, not confirmed rent for this flat. It therefore should not be treated as a subject-specific rent. At £230,000, the 54–55 year lease, unknown service charge and ground rent are material concerns.

Flip Analysis

A flip surplus cannot be calculated. The available £413,000 transaction relates to 48 Ashford Road rather than expressly 48A and provides no supported adjustment for the subject's short lease. Works, selling costs and current resale value are also unknown.

Investor Risks & Due Diligence

• Approximately 54–55 years remain on the lease.

• Annual service charge, ground rent, review period and increases are undisclosed.

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

• The only rental evidence is a generic advertised asking rent and is not confirmed for this flat.

• Property condition and refurbishment requirements are not evidenced.

• The £413,000 comparable is recorded for 48 Ashford Road, not expressly 48A, and may not be directly comparable.

Recommendation

Do not bid on the supplied evidence alone. Proceed only after legal review of the 54–55 year lease, confirmation of all service-charge and ground-rent liabilities, inspection, and an independent short-lease valuation.

Strategy Rating

Analysis Confidence

There is one relatively recent nearby/same-road comparable and a guide price, but the comparable is not expressly the subject flat and key lease, cost, condition, rent and resale information is missing.