51 The Ridgeway, Enfield, EN2 8PF

Description

A substantial detached double fronted house requiring modernisation on a large plot of approximately 7,787 sq ft, with planning permission granted by the London Borough of Enfield on 25th June 2024 for redevelopment of the site by the erection of a two storey block of six self-contained flats. The property has been in the same family ownership for approximately 50 years.

Accommodation

Top Floor: Bedroom Five, Bedroom Six, Bedroom Seven, Bathroom/WC. First Floor: Bedroom One, Bedroom Two, Bedroom Three, Bedroom Four, Bathroom/WC. Ground Floor: Entrance Hall, Through Reception Room, Dining Room, Kitchen, Study Room, WC. Garage. Garden at rear.

Location

Situated on The Ridgeway, close to amenities in Enfield Town Centre and travelling facilities including Enfield Chase and Gordon Hill Train Stations. Town Park and Hilly Fields Park are also nearby.

Tenure / Property Information

Investment Analysis

The £1,000,000+ guide is the only supplied price evidence and is not a formal valuation. No completed-sale comparables, GDV evidence, rental comparables, auctioneer rent estimate or quantified redevelopment costs are supplied. Planning permission was reportedly granted on 25 June 2024 for a two-storey block of six self-contained flats, but the permission details, conditions, build costs and resulting values are unavailable. A supported market value or GDV cannot therefore be established.

Investment Snapshot

Strategy Recommendation

Treat as a planning-led development opportunity only after reviewing the full permission, conditions, technical information, build-cost appraisal and scheme GDV. Do not bid on the supplied evidence alone.

Works Required

The existing detached house is described as requiring modernisation. Any works allowance would need to cover only the modernisation scope confirmed by inspection and the planning-approved redevelopment would require a separate build-cost appraisal. No quantified works or construction specification is supplied.

Rental & Market Context

Potential BRRR Position

BRRR cannot be quantified without a supported acquisition basis above the guide, refurbishment or redevelopment costs, completed-value evidence and achievable rents. The 75% GDV refinance and indicative cash left in are therefore unsupported.

Buy-to-Let Analysis

A BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant and has planning permission for redevelopment into six flats, so the existing seven-bedroom configuration should not be treated as six lettable units without further evidence.

Flip Analysis

A flip appraisal cannot be quantified. No supported GDV, construction budget, resale costs or timeline is supplied. The stated planning permission creates development potential, but does not by itself establish completed scheme value or profit.

Investor Risks & Due Diligence

• No completed-sale comparables or supported GDV are supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is supplied.

• No quantified modernisation or six-flat redevelopment cost is supplied.

• Planning permission details and conditions are not supplied beyond the grant date and broad description.

• EPC is stated as TBC.

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

• A 10% deposit and buyer fee are payable within 24 hours of the auction date.

Recommendation

Treat as a planning-led development opportunity only after reviewing the full permission, conditions, technical information, build-cost appraisal and scheme GDV. Do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, existing accommodation, plot size and planning description, but omits completed-sale comparables, rental evidence, GDV, works costs, EPC and relevant planning and special-condition details.