99B Longspring, Watford, Hertfordshire, WD24 6PU

Description

A Vacant Second Floor One Bedroom Flat. The property comprises a second floor one bedroom flat situated within a mixed use parade arranged over ground and two upper floors.

Accommodation

Second Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Harebreaks Recreation Ground are within easy reach. Transport links are provided by Watford Junction overground station and Watford North rail station.

Tenure / Property Information

Investment Analysis

HM Land Registry comparables on Longspring range from £185,000 to £230,000 between 2022 and 2025. A base GDV of £220,000 is supported by the most recent comparable at £220,000, subject to differences in size, condition and lease terms not provided.

Investment Snapshot

Strategy Recommendation

Proceed only after legal-pack review, lease-cost confirmation and inspection. The evidence supports investigating a buy-to-let or BRRR purchase, but not committing above the guide without full cost verification.

Works Required

No specific defects or required works are evidenced. Allow for inspection, valuation and lease review; refurbishment costs cannot be estimated from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At 75% of the £220,000 base GDV, indicative refinancing is £165,000. Against the £130,000 guide plus the known £1,800 administration charge, this leaves £33,200 before works, legal/disbursement costs, finance and other charges. The 76-year lease and unknown lender requirements require confirmation.

Buy-to-Let Analysis

The £1,200 pcm figure is an advertised asking rent for a one-bedroom Watford property, not achieved rent. This implies £14,400 annual rent and approximately 11.1% gross yield on the guide price, or approximately 6.5% against the base GDV. Service charge, ground rent, insurance, finance and management costs are unknown.

Flip Analysis

The supported base GDV is £220,000, but refurbishment, selling, legal, finance and other project costs are not provided. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• Approximately 76 years remain on the lease, which may affect mortgageability, resale and extension costs.

• Service charge, ground rent, insurance and lease restrictions are not provided.

• Special-condition fees, search fees, seller-cost reimbursement, legal fees and transfer fees may be payable.

• No condition survey or refurbishment cost evidence is supplied.

• Rental evidence is advertised asking rent rather than achieved rent.

• Comparable property sizes, condition and lease terms are not supplied.

Recommendation

Proceed only after legal-pack review, lease-cost confirmation and inspection. The evidence supports investigating a buy-to-let or BRRR purchase, but not committing above the guide without full cost verification.

Strategy Rating

Analysis Confidence

Recent local sold comparables, guide price and tenure are available, but condition, dimensions, service charges, ground rent, buyer fees, legal costs and achieved rent are not supplied.