Flat 102 Hillsborough Court, Mortimer Crescent, Maida Vale, NW6 5NT

Description

A self-contained third floor flat in shell condition requiring complete modernisation in a purpose-built block. The property comes with a licence to alter the existing accommodation.

Accommodation

Previously comprising living room/kitchenette, two rooms and bathroom/WC. Communal courtyard garden.

Location

Situated between Langtry Road and Greville Road, in a popular residential area close to Belsize Road, Abbey Road and Maida Vale.

Tenure / Property Information

Investment Analysis

Same-building completed sales range from £178,500 to £338,000, with the latest supplied sale at £338,000 on 1 April 2026. The subject is in shell condition, and its size, bedroom count and exact comparison details are unavailable. A cautious base GDV of £265,000 is used, with £225,000 low and £338,000 high scenarios based only on the supplied same-building evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a full schedule of works, contractor pricing, lease/service-charge information and confirmation that the comparable sales are sufficiently similar before considering a refurbishment-led resale or letting strategy.

Works Required

Complete modernisation from shell condition, including reinstatement or upgrading of the previously described living room/kitchenette, two rooms and bathroom/WC, together with general internal finishes. The licence to alter may support reconfiguration, but no detailed specification or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £265,000 base GDV, a 75% refinance would be approximately £198,750. BRRR viability cannot be established because the shell-condition refurbishment cost, service charge, finance costs and total acquisition costs are not supplied.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £1,350 pcm, equivalent to £16,200 annually. This produces a 7.20% gross yield against the £225,000 guide price before refurbishment, buyer premium, finance, service charge, tax and other costs. A yield on total project cost cannot be established because refurbishment and other completion costs are unavailable.

Flip Analysis

The supplied same-building sales support a broad £225,000–£338,000 value range, with £265,000 adopted as base GDV. A flip surplus cannot be calculated because complete-modernisation costs and any selling allowance are unavailable. The £225,000 guide leaves limited apparent headroom even before works and transaction costs.

Investor Risks & Due Diligence

• Complete modernisation is required, but no refurbishment cost evidence is supplied.

• The subject’s floor area and bedroom count are not stated, limiting comparison with the supplied sales.

• The comparable sales show a wide range from £178,500 to £338,000.

• The rental evidence is an advertised asking rent rather than an achieved passing rent.

• Seller’s additional completion fees may apply but are not quantified.

• EPC rating E may require consideration when planning works and future letting.

• Leasehold service charge, ground rent and other lease terms are not supplied.

Recommendation

Do not bid on the current evidence alone. Obtain a full schedule of works, contractor pricing, lease/service-charge information and confirmation that the comparable sales are sufficiently similar before considering a refurbishment-led resale or letting strategy.

Strategy Rating

Analysis Confidence

There are five completed sales in the same building and one advertised rent, but the subject’s floor area, bedroom count, condition detail, refurbishment cost, service charge and other completion costs are unavailable.