73 Hendon Way, London, NW2 2LY

Description

A traditional brick built three floor semi-detached building with a pitched and tile covered roof. There is a front driveway with parking for several cars, and a rear garden. By order of the Fixed Charge Receivers.

Accommodation

12 studio flats, as per the Tenancy Schedule.

Location

The property is situated in the popular Hendon area of North West London, with a good range of shops, cafés, restaurants and everyday amenities nearby. Nearby green spaces such as Hendon Park and Golders Hill Park offer opportunities for recreation. The property benefits from convenient transport links, including Hendon Central Underground station and local bus routes, providing easy access to Central London and surrounding areas. Transport Underground - Golders Green (Northern).

Tenure / Property Information

Investment Analysis

The £1,400,000 guide is the only current pricing indicator supplied. One completed sale at 67A Hendon Way for £328,575 in February 2016 is a single, historic flat/maisonette transaction and is insufficient to establish the market value of a 12-studio freehold building. No supported GDV, refurbishment budget, rent or yield can therefore be calculated.

Investment Snapshot

Strategy Recommendation

Do not establish a bid or investment strategy from the supplied evidence alone. Obtain the full tenancy schedule, current rents, legal and planning information, building inspection, EPC and multiple relevant comparables before proceeding.

Works Required

No specific defects or required works are evidenced. Allowance cannot be quantified. Due diligence should verify the condition of the building, all 12 studios, roof, services, common areas, parking and garden, but these items are not stated as defective.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because acquisition costs, rent, refurbishment costs and refinance valuation evidence are unavailable. The 10 tenanted and 2 vacant units should be verified against the tenancy schedule and inspection evidence before considering refinancing.

Buy-to-Let Analysis

The property comprises 12 studios, with 10 flats stated to be tenanted and 2 vacant. No tenancy schedule, passing rents, external rental comparables or auctioneer rent estimate has been supplied, so income, gross yield and BTL value cannot be established. The 2 vacant units create immediate occupancy and income uncertainty.

Flip Analysis

A flip analysis cannot be supported. There is no current GDV evidence, quantified works budget, selling-cost allowance or reliable comparable evidence for the 12-studio freehold building. The historic single-flat sale does not establish a resale value.

Investor Risks & Due Diligence

• No current market valuation evidence for the 12-studio freehold building.

• No passing rents or sufficiently specific rental comparables supplied.

• Two of the 12 flats are stated to be vacant.

• The tenancy schedule and individual tenancy terms have not been provided.

• Building condition and any required refurbishment are unknown.

• Buyer premium, administration charge and other acquisition costs are unspecified.

• The historic single-flat comparable is insufficient for valuation of the subject property.

Recommendation

Do not establish a bid or investment strategy from the supplied evidence alone. Obtain the full tenancy schedule, current rents, legal and planning information, building inspection, EPC and multiple relevant comparables before proceeding.

Strategy Rating

Analysis Confidence

The evidence omits current market comparables, rents, tenancy details, condition, EPC, council tax, buyer costs, refurbishment costs and finance assumptions. The only comparable is a single 2016 sale of a flat/maisonette.