6 Georgian House, Elms Lane, WEMBLEY, Middlesex, HA0 2NU

Description

Leasehold ground floor two bedroom flat. Full vacant possession. 3D Tour available.

Accommodation

Two bedrooms, reception room, kitchen, bathroom/WC

Location

The property is located on Elms Lane. Shopping amenities can be found locally within Wembley, with Central London found to the south east. Public transport links are available at North Wembley Station (Overground and Bakerloo Lines) to the east and Sudbury Hill Train and Underground Station (Piccadilly Line) to the south west along with a network of local bus services serving the surrounding areas. The property is served by road links including the A404 to the east and A4127 to the north. Recreational pursuits can be found at Elmwood Park to the north west.

Tenure / Property Information

Investment Analysis

The supplied sold comparables include Georgian House sales at £315,000 in 2018 and £320,000 in 2022, but the comparable lease terms, condition and precise flat details are not provided. This flat has only 26 years and 10 months remaining as of the auction date, making direct comparison unreliable without the lease, extension position and legal-pack information. No supported GDV or maximum bid can therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Proceed only after reviewing the lease and legal pack, confirming lease-extension implications, inspecting condition and establishing a specialist short-lease valuation.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain an inspection and legal-pack review before budgeting; only routine works identified after inspection should be allowed for.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. The short remaining lease is a major refinance risk, while GDV, refurbishment costs, lenderability and lease-extension costs are unsupported. Obtain the full lease and legal pack before considering the strategy.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £750 pcm, equivalent to £9,000 annually. This produces a headline 10.0% gross yield against the £90,000 guide, or approximately 9.8% against the guide plus the known £1,800 contract documentation fee. These figures exclude works, seller fees, finance, taxes and other ownership costs, and the rent is not an achieved or passing rent.

Flip Analysis

A flip surplus cannot be calculated reliably. Although same-building sold comparables are supplied, they do not establish a current value for this flat with only 26 years and 10 months remaining, and no works budget or supported selling-cost allowance is available.

Investor Risks & Due Diligence

• Only 26 years and 10 months remain on the lease as of the auction date.

• Lease information is awaited and lease-extension implications are unknown.

• Same-building sold comparables are not adjusted for lease length, condition or precise flat characteristics.

• The £750 pcm figure is an advertised asking rent rather than achieved or passing rent.

• No refurbishment budget is supported by the evidence.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Parking and heating details require confirmation.

Recommendation

Do not bid on current evidence alone. Proceed only after reviewing the lease and legal pack, confirming lease-extension implications, inspecting condition and establishing a specialist short-lease valuation.

Strategy Rating

Analysis Confidence

The guide, one advertised rent, same-building historic sales and stated lease term are available, but lease details, condition, costs, comparable lease terms and current market valuation evidence are incomplete.