Basement Flat, 40 Middleton Road, Haggerston, London

Description

A one bedroom basement flat situated in an attractive end of terrace building. The property is presented in clean decorative order. Externally the property benefits from a private section of the rear garden.

Accommodation

Basement - One Bedroom, Kitchen, Reception Room, Bathroom / WC

Location

The property is located on Middleton Road, which can be accessed off Kingsland Road. Local amenities can be found on Kingsland Road, Dalston and within London Fields. Recreational amenities of London Fields, Stonebridge Gardens and Haggerston Park are all easily accessible, with Broadway Market a short distance away. Transport: Haggerston Station - Overground.

Tenure / Property Information

Investment Analysis

Same-address Land Registry evidence ranges from £405,000 to £552,250, with the latest recorded sale at £552,250 in March 2022. A nearby Middleton Road sale was £447,000 in January 2020. As the evidence does not confirm flat number, size, lease length or whether the transactions relate to the same unit, £500,000 is used as a cautious base GDV, with £447,000–£552,250 as the evidence-supported scenario range. The £340,000 guide represents a substantial apparent discount, but buyer fees, VAT, lease information and property-specific rental evidence are incomplete.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let or BRRR opportunity only if the legal pack confirms an acceptable lease, charges and title, and an inspection supports the clean condition. Validate achievable rent and all auction costs before bidding; do not rely on the headline GDV uplift alone.

Works Required

No specific refurbishment works are evidenced. The flat is described as being in clean decorative order. Any works budget should remain unpriced pending inspection and review of the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £340,000 guide and with no priced works identified, the purchase appears below the £500,000 base GDV. A 75% refinance at the base GDV would be approximately £375,000. However, buyer fees, VAT, seller charges, lease terms and finance costs are unknown, so cash left in and equity cannot be reliably calculated.

Buy-to-Let Analysis

The supplied rental evidence is £850 pcm and £1,582 pcm, both advertised asking rents, and neither is conclusively identified as this flat. These imply an indicative gross yield range of approximately 3.00%–5.58% on the £340,000 guide before finance, voids, management, maintenance and leasehold costs. A reliable rent and net yield cannot be established.

Flip Analysis

The evidence indicates a potential gross value uplift from the £340,000 guide to the £447,000–£552,250 evidence-supported range. A reliable flip surplus cannot be calculated because buyer/admin costs, VAT, refurbishment costs and resale costs are unavailable. The comparable evidence also lacks confirmed size and flat-level details.

Investor Risks & Due Diligence

• Buyer premium, VAT and any seller charges are not quantified.

• Lease length, ground rent, service charge and other leasehold liabilities are not supplied.

• Rental evidence comprises asking rents and is not conclusively for this flat.

• Sold comparables do not confirm the same unit, size, specification or bedroom configuration.

• Refurbishment and inspection costs are not evidenced or priced.

• EPC is rated D, with no further building or energy-cost information supplied.

Recommendation

Potential buy-to-let or BRRR opportunity only if the legal pack confirms an acceptable lease, charges and title, and an inspection supports the clean condition. Validate achievable rent and all auction costs before bidding; do not rely on the headline GDV uplift alone.

Strategy Rating

Analysis Confidence

There is useful same-address and nearby sold-price evidence, but the comparables are not confirmed to be the same flat, while lease details, costs, service charges, achievable rent and refurbishment requirements are missing.