78 Park Chase, Wembley, Middlesex HA9 8EH

Description

A vacant three-bedroom semi-detached house with two reception rooms, kitchen, three bedrooms, bathroom and separate WC. The freehold property has a rear garden and off-street parking, and the auctioneer highlights development potential subject to all relevant consents.

Location

Park Chase is a residential road near King Edward VII Park, Wembley Park Underground and Wembley Stadium rail station.

Investment Analysis

Investment Snapshot

Property & Refurbishment

I would initially allow £25,000–£45,000 for the works indicated by the listing, investor-grade finishing and contingency. This is an HB/AI feasibility allowance rather than a contractor quotation and should be replaced by survey and itemised trade pricing before bidding.

Rental Analysis

For sensitivity testing I would use an HB market-rent estimate of £2,500–£2,900 pcm. This equates to approximately £30,000–£34,800 per annum and 6.7%–7.7% gross on the guide. At midpoint rent and works, gross yield on guide plus works is about 6.7% before finance, management, maintenance, insurance, compliance, voids and tax.

GDV / Resale Analysis

For feasibility I would use an indicative £625,000–£725,000 completed-value range. This is an AI-assisted investment appraisal estimate and not a formal RICS valuation. Using midpoint assumptions gives an estimated completed value of about £675,000 against guide-plus-midpoint-works of approximately £485,000.

Properties Sold Within Approx. 5 Miles

The same-street evidence is strong and consistently above the guide. Development potential could add value, but the base case should work as a refurbished family house without assuming consent.

Potential BRRR Position

At the midpoint GDV of approximately £675,000, a purely illustrative 75% LTV refinance would be around £506,250. Against guide plus midpoint works of approximately £485,000, this should be viewed only as a sensitivity test; lender valuation, construction, lease length, rental stress tests and borrower criteria determine the actual refinance.

Flip Analysis

A resale strategy should be tested against the conservative end of the £625,000–£725,000 GDV range and must deduct acquisition tax, the £1,800 auction administration charge, legal fees, finance, holding costs, refurbishment, contingency and selling costs. Headline uplift is not the same as net profit.

Investor Risks & Due Diligence

• Check the legal pack, title and all additional disbursements.




• Obtain a full building survey and contractor quotations.




• Verify achievable rent against current completed lettings.




• Verify GDV against recent like-for-like sold evidence.

Recommendation

Preferred strategy: Refurbishment & Resale / Development. The final decision should be based on verified works costs, rent, legal position and comparable-supported end value rather than guide price alone.

Strategy Rating

BRRR: ★★★★☆

Buy-to-Let: ★★★★☆

Flip: ★★★★☆

Development: ★★☆☆☆