9 Bullen Court, New North Road, Hainault

Description

A two bedroom third floor flat, in need of modernisation. The flat forms part of a purpose built block.

Accommodation

Third Floor - Two Bedrooms, Reception Room, Bathroom/WC.

Location

Located on New North Road, close to the turning for Thurlow Gardens. Shopping amenities are available along New North Road and Fencepiece Road. The recreational amenities of Claybury Park and Fairlop Waters Country Park are nearby. Road links via the M11. Transport Hainault Station - Central Line.

Tenure / Property Information

Investment Analysis

Two completed sales at Bullen Court on 16 January 2026 are reported at £170,000 and £230,000. The evidence does not state their bedroom count, size, condition or exact unit, so they provide only a broad local block range rather than a precise valuation. A £200,000 base GDV is used as a midpoint estimate, with £170,000 low and £230,000 high scenarios. The flat’s need for modernisation and short remaining lease may place it below an equivalent fully marketable property, but no quantified adjustment is supported.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining the legal pack, confirming the lease position and obtaining a detailed refurbishment quote and rental appraisal. On the supplied evidence, avoid bidding on yield or flip assumptions alone.

Works Required

Modernisation is required, but the evidence does not specify the condition of individual elements or provide a works schedule. Obtain a full inspection and lease review before budgeting for works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A £200,000 base GDV implies a theoretical 75% refinance figure of £150,000, but refurbishment cost, acquisition charges, rent, finance costs and lease-related lending implications are unknown. Cash left in and BRRR viability cannot therefore be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The unknown buyer fee, possible VAT or seller charges, modernisation cost and short remaining lease further prevent a reliable yield calculation.

Flip Analysis

The reported 2026 Bullen Court sales indicate a broad £170,000–£230,000 evidence range, but the comparable specifications are unknown. Modernisation costs and selling costs are unsupported, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• The 99-year lease commenced on 29 September 1971, leaving approximately 43 years at the analysis date; extension terms and lender acceptability are unknown.

• The flat is described as needing modernisation, but the scope and cost of works are unknown.

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

• The auction buyer fee is unspecified, and VAT or other seller charges may apply.

• The comparable sales lack bedroom, size, condition and exact-unit details, limiting GDV reliability.

Recommendation

Proceed only after obtaining the legal pack, confirming the lease position and obtaining a detailed refurbishment quote and rental appraisal. On the supplied evidence, avoid bidding on yield or flip assumptions alone.

Strategy Rating

Analysis Confidence

There are two recent same-block completed sales, but their specifications are not provided. Rental evidence, refurbishment costs, buyer fees, property services and detailed lease information are absent.