59A Tynemouth Road, Tottenham, London, N15 4AU

Description

A Vacant First Floor Three Bedroom Flat. The property comprises a first floor three bedroom flat situated within a mid terrace building arranged over ground and first floors.

Accommodation

First Floor: Reception Room, Kitchen, Three Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Down Lane Park are within easy reach. Transport links are provided by Tottenham Hale underground (Victoria line) and rail stations.

Tenure / Property Information

Investment Analysis

The only directly matching completed sale is this property at £175,000 on 9 March 2023. Other sales on Tynemouth Road range from £285,500 to £530,000, but bedroom count, condition, floor area and lease terms are not supplied, so they are not reliable direct comparables. The flat has approximately 22 years unexpired, materially limiting marketability and making a current GDV, lease-extension liability and resale value unsupported. The £140,000+ guide cannot be validated as good value from the evidence provided.

Investment Snapshot

Strategy Recommendation

Do not bid without reviewing the legal pack, confirming the exact lease position and costs, obtaining a condition assessment, and securing specialist short-lease valuation and finance advice.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a full condition survey and review the legal pack, including lease terms and any lease-extension or landlord-cost provisions, before identifying or budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable on the available evidence. There is no reliable current GDV, rent, refurbishment budget or refinance valuation, and the approximately 22-year lease is a significant refinancing and resale risk.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The approximately 22-year lease may also restrict lender and tenant demand; specialist advice is required.

Flip Analysis

A flip appraisal cannot be established. Although the same property sold for £175,000 in March 2023, there is no current valuation, condition assessment, supported refurbishment allowance or selling-cost allowance. The short lease materially increases resale uncertainty.

Investor Risks & Due Diligence

• Approximately 22 years remain on the lease, creating significant marketability, lending and resale risk.

• Lease-extension premium and associated professional or landlord costs are not provided.

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

• Condition and refurbishment requirements are not evidenced.

• The £1,800 administration charge is payable, with further possible disbursements and other legal or transfer charges under the legal pack.

• The historic £175,000 sale from 2023 may not represent current value.

Recommendation

Do not bid without reviewing the legal pack, confirming the exact lease position and costs, obtaining a condition assessment, and securing specialist short-lease valuation and finance advice.

Strategy Rating

Analysis Confidence

The evidence includes a directly matching historic sale and the guide price, but omits current valuation evidence, floor area, condition, rent, lease-extension costs, finance terms and full purchase costs.