Flat 11, Linear View, 71 Forty Lane, Wembley, Middlesex

Description

A third floor flat with two bedrooms. The property comprises an open plan living room, two bedrooms, a bathroom and an ensuite. The property is well located for Wembley Park station with connections to the Jubilee and Metropolitan lines. The total approximate floor area, taken from the EPC is 60m2. All services/appliances have not and will not be tested.

Accommodation

Open plan living room, two bedrooms, a bathroom and an ensuite.

Location

Well located for Wembley Park station with connections to the Jubilee and Metropolitan lines.

Tenure / Property Information

Investment Analysis

Same-building Land Registry comparables range from £325,000 to £380,000, but the latest supplied sale is from 2018. A £368,000 base GDV is used cautiously; current market value is not independently evidenced. Rental evidence is limited to advertised asking rents of £600–£750 pcm from nearby locations.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack, lease, service-charge and current valuation checks. The low supported rental yield makes this unsuitable as a straightforward BTL at the guide; do not rely on the apparent refinance or resale uplift without current evidence.

Works Required

No specific defects or refurbishment works are evidenced. Allow for inspection, testing of services/appliances and any works identified after viewing, but no quantified works allowance is supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £368,000 base GDV and no quantified refurbishment allowance, 75% theoretical refinance is £276,000 against a guide-price purchase plus the 1.2% buyer premium of £222,640. This indicates potential cash release, but the GDV is based on dated comparables and actual lending, lease terms and costs are unconfirmed.

Buy-to-Let Analysis

At £600–£750 pcm advertised asking rent, gross yield on the £220,000 guide is approximately 3.27%–4.09%. Using midpoint rent of £675 pcm gives £8,100 annual rent and a 3.68% gross yield. Service charge, ground rent, finance, management and maintenance are not supplied, so net yield cannot be established.

Flip Analysis

The dated same-building comparables suggest substantial headline value above the guide, but no current valuation, selling costs, finance costs, legal-pack disbursements or refurbishment costs are supplied. A reliable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Comparable sales are dated, with the latest supplied transaction in 2018.

• Rental figures are nearby advertised asking rents, not achieved rents for this flat.

• Leasehold service charge, ground rent, remaining lease details and restrictions are not supplied.

• Services and appliances will not be tested.

• Legal-pack disbursements and special-condition costs may be payable.

• Current condition, finance costs and selling costs are unknown.

Recommendation

Proceed only subject to legal-pack, lease, service-charge and current valuation checks. The low supported rental yield makes this unsuitable as a straightforward BTL at the guide; do not rely on the apparent refinance or resale uplift without current evidence.

Strategy Rating

Analysis Confidence

Property description, lease term, guide, buyer premium, dated same-building sales and limited nearby asking rents are supplied, but current comparables, service charges, lease financial obligations, condition, works costs and legal-pack disbursements are unavailable.