5A Lincoln Road, East Finchley, London

Description

Vacant long leasehold self-contained ground floor flat with a reception room, bedroom, kitchen, wet room, rear garden and GIA approximately 47.4 sq m (510 sq ft). The vendor will not accept offers prior to auction.

Accommodation

Reception Room, Bedroom, Kitchen, Wet Room; rear garden; GIA approximately 47.4 sq m (510 sq ft).

Location

The property is situated on the south side of Lincoln Road. The shops and amenities of High Road are to the west. East Finchley underground station (Northern line) is approximately 0.3 miles to the south west. The A1 is to the south. Cherry Tree Wood is to the south.

Tenure / Property Information

Investment Analysis

The strongest evidence is 11A Lincoln Road, a leasehold flat sold for £332,500 in December 2023. However, its bedroom count, size, condition and exact comparability are not supplied. The older Lincoln Road sales range from £150,000 to £458,500 and are not sufficiently detailed for a reliable range. £332,500 is therefore used only as an indicative base GDV proxy, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally after reviewing the legal pack, inspecting condition, confirming achievable rent and checking all additional charges. Do not rely on the headline yield or the £332,500 GDV proxy when setting a bid.

Works Required

No condition, serviceability or specification issues are supplied, so no refurbishment allowance can be responsibly quantified. The flat should be inspected to establish whether any works, cleaning or compliance items are required.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £332,500 Lincoln Road sale as an unverified GDV proxy, 75% refinancing would be £249,375. Works, buyer or administration charges, finance costs and other acquisition costs are not supplied, so total project cost, cash requirement and equity position cannot be calculated. The long new lease and peppercorn ground rent are supportive, subject to legal review.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,436 pcm for flats near East Finchley Underground station. It is not confirmed as achieved rent or as directly comparable to this 1-bedroom, 510 sq ft flat. If achieved, annual gross rent would be £29,232 and the gross yield on the £134,000 guide would be approximately 21.82%, before all costs. A reliable market rent and net yield cannot be established from the supplied evidence.

Flip Analysis

A flip appraisal cannot be completed reliably because refurbishment costs, acquisition charges, selling costs and a directly comparable resale value are not supplied. The £332,500 figure is only a same-road proxy with unknown size, layout and condition, so no flip surplus is estimated.

Investor Risks & Due Diligence

• The most relevant recent sale lacks supplied details of bedrooms, floor area, condition and specification, limiting GDV confidence.

• The £2,436 pcm figure is an advertised asking rent for flats near the station, not an achieved rent for this property.

• Condition and required works are unknown, preventing a reliable refurbishment budget.

• Buyer premium, administration charges and other seller or third-party fees are not quantified.

• The legal pack and special conditions may contain additional obligations or costs that have not been supplied.

• The flat is leasehold, so title, lease provisions and the new lease documentation require legal review despite the stated 990-year term and peppercorn ground rent.

Recommendation

Proceed only conditionally after reviewing the legal pack, inspecting condition, confirming achievable rent and checking all additional charges. Do not rely on the headline yield or the £332,500 GDV proxy when setting a bid.

Strategy Rating

Analysis Confidence

The property description, tenure, lease term, guide price and one rental asking figure are supplied, but there is no condition report, direct bedroom/size-matched sale evidence, confirmed achieved rent, buyer fees or refurbishment budget.