63 Goring Way, Greenford, Middlesex, UB6 9NW

Description

A Vacant Ground Floor Two Bedroom Flat. The property comprises a ground floor two bedroom flat situated within a semi detached building arranged over ground and first floors. The property requires a program of refurbishment.

Accommodation

Ground Floor: Reception Room, Kitchen, Two Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Ravenor Park are within easy reach. Transport links are provided by South Greenford rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £299,950 to £350,000. The most recent supplied comparable, 65A Goring Way, sold for £308,000 on 17 March 2025. As bedroom count, floor area, exact condition and lease terms of the comparables are not supplied, £308,000 is used as the base GDV, with the other supplied sales forming a broad evidence range rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Do not commit at auction without reviewing the legal pack, confirming lease-extension position and obtaining a measured inspection and refurbishment quotations. The guide-to-comparable-value gap appears substantial, but the short lease, unknown works and absent rent evidence prevent a reliable bid or strategy recommendation.

Works Required

Refurbishment is required, but the evidence does not specify the condition, defects, finishes, services or required scope. Obtain a full inspection and contractor quotations before bidding. The EPC is currently rated E, but no specific energy-efficiency works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% gross refinancing is approximately £231,000 before lending costs, valuation adjustments and lease-related restrictions. Total project cost cannot be calculated because refurbishment costs and any legal-pack disbursements are unknown. The short unexpired lease is a material refinance risk and must be investigated before purchase.

Buy-to-Let Analysis

BTL cannot be underwritten because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The flat is vacant and requires refurbishment. The approximately 28-year unexpired lease may also affect mortgageability, resale and achievable rent, subject to legal and lender review.

Flip Analysis

The supplied completed sales indicate a broad potential value range of £299,950 to £350,000, with £308,000 used as the base GDV. A flip surplus cannot be calculated because refurbishment costs, legal-pack disbursements and selling costs are not supplied. The approximately 28-year lease may materially constrain resale value and buyer financeability.

Investor Risks & Due Diligence

• Approximately 28 years remain on the lease, creating potential mortgageability, resale and lease-extension risk.

• Refurbishment is required but no scope or cost estimate is supplied.

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

• Buyer premium is not supplied and additional legal-pack disbursements may become payable.

• The comparable sales differ in date and may not match the subject flat's size, condition or lease terms.

• The property is vacant and no passing rent is available.

Recommendation

Do not commit at auction without reviewing the legal pack, confirming lease-extension position and obtaining a measured inspection and refurbishment quotations. The guide-to-comparable-value gap appears substantial, but the short lease, unknown works and absent rent evidence prevent a reliable bid or strategy recommendation.

Strategy Rating

Analysis Confidence

There are several relevant same-street completed sales, including a recent sale, but floor areas, comparable condition, lease terms, refurbishment costs, rent, selling costs and legal-pack disbursements are not supplied.