6 Georgian House, Elms Lane, Wembley

Description

A self-contained ground floor flat requiring modernisation in a purpose-built block.

Accommodation

Entrance Hall; Living Room; Kitchen; Bedroom (One); Bedroom (Two); Bathroom/WC

Location

Situated on Elms Lane, close to local shopping/travelling facilities including Sudbury & Harrow Road and Sudbury Hill Harrow (Piccadilly Line) Train Stations. Barham Park is also nearby.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence shows sales in the same block at £315,000 in 2018 and £320,000 in 2022, but the evidence does not confirm the comparable flats' size, condition or lease terms. The subject has approximately 27 years unexpired, which makes direct comparison unreliable without lease-specific valuation evidence. A defensible GDV cannot therefore be established from the supplied evidence alone.

Investment Snapshot

Strategy Recommendation

Do not bid on the present evidence alone. Obtain a lease-specific valuation, confirmation of lease and service-charge terms, a detailed inspection and refurbishment quote, and rental evidence before considering purchase.

Works Required

Modernisation of the self-contained flat, potentially including the kitchen, bathroom/WC, decoration and general internal finishes. No detailed schedule of condition or works quotation is supplied, so no cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported. The short remaining lease of approximately 27 years, unknown modernisation cost and absence of a lease-adjusted GDV or refinance valuation prevent reliable assessment of refinance proceeds and equity left in the property.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The guide is £100,000 and the buyer premium is £1,500 inclusive of VAT, but refurbishment costs, rent and other completion costs are unknown.

Flip Analysis

A flip assessment cannot be reliably quantified. Same-block sales of £315,000 and £320,000 are useful historic context, but their lease terms, condition and comparability are not supplied. No supported refurbishment budget, selling allowance or lease-adjusted resale value is available.

Investor Risks & Due Diligence

• Approximately 27 years remain on the lease.

• The flat requires modernisation, but no detailed condition report or works quotation is supplied.

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

• The same-block sales do not include confirmed lease terms, size or condition for reliable adjustment.

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

Recommendation

Do not bid on the present evidence alone. Obtain a lease-specific valuation, confirmation of lease and service-charge terms, a detailed inspection and refurbishment quote, and rental evidence before considering purchase.

Strategy Rating

Analysis Confidence

There are same-block completed sales and clear tenure information, but the subject's short lease, condition cost, rental value, comparable lease details and potential seller fees are not sufficiently evidenced.