Flat 12 Hendon Lodge, 31 Sunningfields Road, Hendon, London, NW4 4QS

Description

A Vacant Second Floor Two Room Flat. The property comprises a second floor two room flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Second Floor: Kitchen/Diner, Two Rooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Sunny Hill Park are within easy reach. Transport links are provided by Colindale underground station (Northern line) and Hendon rail station.

Tenure / Property Information

Investment Analysis

Completed sales within Hendon Lodge range from £275,000 to £320,000 in 2022-2026, with an older 2017 sale at £375,000. The latest £320,000 sale is the strongest evidence, but the comparables do not confirm identical floor, size, condition, parking or lease terms. A base GDV of £320,000 is therefore indicative only. The guide price represents a substantial discount to the latest same-building sale, subject to fees and legal-pack liabilities.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or BRRR purchase, subject to confirming the flat's condition, service charge, ground rent, legal-pack costs and achievable rent. Do not rely on the apparent discount or set a maximum bid until those costs are known.

Works Required

No specific refurbishment works are evidenced. Inspect the flat, EPC-related condition, communal areas and legal pack before budgeting; any works allowance is unsupported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £320,000 indicative GDV, 75% refinance would be approximately £240,000. The substantial apparent equity headroom is unquantified because refurbishment costs, buyer disbursements, service charges, finance costs and other acquisition costs are not supplied. The long stated lease is supportive, but lender and lease-pack checks remain necessary.

Buy-to-Let Analysis

Advertised two-bedroom rents range from £1,850 to £2,200 pcm, implying indicative gross yields of approximately 12.3%-14.7% against the £180,000 guide price. These are asking rents, not achieved rents, and no service charge, ground rent, finance, management, void or maintenance costs are supplied, so net yield and cash flow cannot be established.

Flip Analysis

Using the latest same-building sale as the base GDV gives an apparent margin over the £180,000 guide, but a reliable flip surplus cannot be calculated without refurbishment costs, all acquisition costs and a supported selling-cost allowance. The wide range of historic same-building sales also indicates valuation sensitivity.

Investor Risks & Due Diligence

• Same-building sale prices vary materially and may not relate to identical flats.

• Rental figures are advertised asking rents rather than achieved rents.

• No condition or refurbishment-cost evidence is supplied.

• Service charge, ground rent and other leasehold costs are not provided.

• Additional auction disbursements and special-condition costs may be payable.

• The latest comparable may differ in floor, size, parking or specification.

• Finance, void, management, maintenance and selling costs are not supplied.

Recommendation

Investigate as a potential buy-to-let or BRRR purchase, subject to confirming the flat's condition, service charge, ground rent, legal-pack costs and achievable rent. Do not rely on the apparent discount or set a maximum bid until those costs are known.

Strategy Rating

Analysis Confidence

There are several completed same-building sales, a stated long lease and rental asking evidence, but the flat-specific size, condition, service charge, ground rent, buyer disbursements and achieved rent are unavailable.