5 North End Road, Golders Green, London

Description

Former office building comprising three rooms and a kitchenette on the ground floor, four rooms on the first floor, and two rooms with exit to a roof terrace on the second floor. Possible potential for conversion to self-contained flats, subject to consents. The property was previously the subject of planning permission for change of use from B1 office to C3 residential (9 units), but this consent has now lapsed.

Accommodation

Ground floor: three rooms and kitchenette. First floor: four rooms. Second floor: two rooms and exit to roof terrace. GIA approximately 188.3 sq m (2,027 sq ft).

Location

Situated on the north side of North End Road. Golders Green Road and Finchley Road are nearby, providing local shops, restaurants, supermarkets and bus links. Golders Green underground and bus station on the Northern line is approximately 0.1 miles to the west. The M1 motorway is to the north west and Hampstead Heath is to the south east.

Tenure / Property Information

Investment Analysis

The £900,000+ guide is the only current price evidence supplied. The sold comparables are historic transactions from 2002–2015 and do not provide sufficient evidence of current value, size equivalence or condition. The property is a 2,027 sq ft former office with possible residential conversion potential, but the previous consent for nine C3 units has lapsed. A current GDV cannot be established without up-to-date comparable evidence, planning confirmation and a valuation of the existing commercial use or proposed scheme.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led commercial property opportunity only. Do not rely on the lapsed nine-unit consent or bid on a residential GDV basis without current planning advice, measured surveys, conversion-cost estimates and updated comparable evidence.

Works Required

Obtain planning advice and assess/reapply for change of use to C3 residential if appropriate. Any conversion would require internal reconfiguration into self-contained flats, services and specification upgrades, subject to planning and building-control requirements. The evidence does not quantify the works or establish specific defects.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR viability cannot be established because there is no supported current GDV, refurbishment budget, achievable rent, finance cost or refinance valuation. The lapsed nine-unit consent creates planning risk, and any residential conversion would require fresh consents and detailed feasibility work.

Buy-to-Let Analysis

A reliable BTL appraisal cannot be completed. The supplied £1,300 pcm flat listing, £1,450 pcm office listing and £5,417 pcm five-bedroom listing are asking rents for different property types and do not establish an achievable rent for this vacant 2,027 sq ft former office. Conversion consent, unit layout and operating costs are also unknown.

Flip Analysis

A flip appraisal cannot be supported from the evidence. The historic same-road sales are too old and lack sufficient size, condition and use detail, while no current GDV, works budget, selling costs or conversion consent is available.

Investor Risks & Due Diligence

• The previous planning permission for change of use from B1 office to C3 residential has lapsed.

• Any residential conversion is subject to obtaining fresh planning and other required consents.

• No refurbishment or conversion cost estimate is supplied.

• No reliable current GDV or directly comparable current sale evidence is supplied.

• Rental evidence relates to different property types and is advertised asking rent rather than achieved rent.

• Additional seller or third-party fees may apply, but no amounts are provided.

• The building is vacant, so there is no passing income.

• Condition, EPC, heating and council tax information are not supplied.

Recommendation

Treat as a planning-led commercial property opportunity only. Do not rely on the lapsed nine-unit consent or bid on a residential GDV basis without current planning advice, measured surveys, conversion-cost estimates and updated comparable evidence.

Strategy Rating

Analysis Confidence

Current valuation, condition, rent, planning position, conversion costs and buyer/admin charges are not supplied. The available sales are historic and the rental evidence is not directly comparable.