81 Queens Avenue, Whetstone, London, N20 0JB

Description

A two bedroom ground floor flat. Externally the property benefits from a private section of rear garden. In need of modernisation. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Shoer Room/WC, WC.

Location

Located on Queens Avenue, accessed off Myddelton Park. Amenities are available nearby on Oakleigh Road North, High Road and within East Barnet Village. Recreational amenities of Bethune Park, Friary Park, Oak Hill Park and Brook Farm Open Space are easily accessible. Transport: Totteridge & Whetstone - Northern; Oakleigh Park - Great Northern, Thameslink.

Tenure / Property Information

Investment Analysis

The strongest available evidence is a £610,000 completed sale of 83A Queens Avenue in January 2025, with an earlier sale of the same recorded address at £460,000 in February 2021. The evidence does not confirm that 83A is identical in size, condition, floor, garden provision or lease terms to 81 Queens Avenue. Accordingly, £610,000 is used as an indicative base GDV, with £460,000 as a lower evidence point. The guide represents a substantial discount to these recorded sales, but the property requires modernisation and auction fees, VAT and legal-pack terms are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to full legal-pack review, confirmation of the new lease terms and a detailed inspection/works quotation. At the guide, the indicative rent-to-price ratio is attractive, but the investment case should not rely on the £610,000 GDV without confirming that 83A is a genuinely comparable flat.

Works Required

Modernisation of the vacant two-bedroom flat, including review and updating of the kitchen, shower room/WC, separate WC, decoration and other finishes as required. The evidence does not specify individual defects or provide a works budget, so no refurbishment allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £610,000 recorded sale of 83A Queens Avenue as an indicative base GDV, 75% of GDV is £457,500. However, refurbishment costs, auction buyer fee, VAT, legal costs and other acquisition costs are unavailable, so total project cost, cash required and cash left after refinance cannot be calculated reliably. The lower £460,000 comparable also demonstrates material valuation uncertainty.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £2,250 pcm for a two-bedroom property in N20; it is not an achieved rent and may not be directly comparable. At the £260,000 guide, this equates to an indicative gross yield of 10.38% before refurbishment, finance, service charge, leasehold and acquisition costs. A reliable net yield cannot be established because those costs and the property’s rentability after modernisation are not supplied.

Flip Analysis

A flip may show substantial headline potential if the £610,000 83A sale is genuinely comparable, but the evidence does not establish comparability or provide refurbishment, selling, finance or acquisition costs. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• The principal comparable is 83A Queens Avenue rather than the subject property, and its size, condition, floor, garden provision and lease terms are not supplied.

• The flat is described as needing modernisation, but no condition survey or refurbishment cost is available.

• The buyer premium, VAT applicability and other acquisition costs are not supplied.

• The £2,250 pcm rent is an advertised asking rent rather than achieved rent and is not confirmed as directly comparable.

• Leasehold costs and terms, including service charge, ground rent and legal-pack provisions, are not supplied.

• Council tax, parking and heating information are unavailable.

Recommendation

Proceed only subject to full legal-pack review, confirmation of the new lease terms and a detailed inspection/works quotation. At the guide, the indicative rent-to-price ratio is attractive, but the investment case should not rely on the £610,000 GDV without confirming that 83A is a genuinely comparable flat.

Strategy Rating

Analysis Confidence

There is one recent recorded sale at the same listed address and one asking-rent listing, but no confirmed physical comparability, refurbishment budget, auction fees, service charge, council tax, parking or detailed lease/legal information.