Flat 2, 781 Harrow Road, London, NW10 5PA

Description

A two bedroom first floor flat above retail premises situated between Willesden Junction and Kensal Green stations. The property is in shell condition and requires remedial work and full refurbishment.

Accommodation

First Floor: Entrance Hall, reception room and provision for kitchen, 2 bedrooms, provision for bathroom.

Location

Situated between Willesden Junction and Kensal Green stations.

Tenure / Property Information

Investment Analysis

The available completed sales are on the same road but vary materially (£12,000 to £440,000), are mostly older, and do not provide sufficiently specific evidence on bedroom count, floor area, condition or lease terms for this shell-condition two-bedroom flat. A supported GDV, refurbishment budget, rent, yield or maximum bid cannot therefore be established from the supplied evidence. The 61-year unexpired lease and £1,500 administration charge are relevant known cost and risk factors.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain a detailed inspection, refurbishment quotations, lease-extension and service-charge information, and stronger two-bedroom comparable evidence before considering a purchase.

Works Required

Remedial work and full refurbishment as stated in the description, including completion of the kitchen and bathroom provisions. The EPC is F, so energy-performance improvement should be assessed, but no specific works or costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because GDV, refurbishment cost, rent and lending assumptions are unsupported. The 61-year lease may materially affect refinanceability and valuation, while the property also requires full refurbishment.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The shell condition, full refurbishment requirement, EPC F and 61-year lease would require assessment before relying on rental returns.

Flip Analysis

A flip surplus cannot be calculated. Although completed sales exist on the same road, the evidence is too inconsistent and insufficiently specific to establish a reliable resale value for this property, and no refurbishment or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• Only 61 years remain on the lease.

• The property is in shell condition and requires remedial work and full refurbishment.

• EPC rating is F.

• No sufficiently specific rental evidence is supplied.

• The completed sales evidence is wide-ranging and does not establish a reliable value for this property.

• A £1,500 inclusive-of-VAT contract administration charge is payable on exchange, with possible additional costs under the sale conditions.

• Unknown floor area, service charges, ground rent, lease restrictions and other lease terms may affect value and financeability.

Recommendation

Do not bid on the supplied evidence alone. Obtain a detailed inspection, refurbishment quotations, lease-extension and service-charge information, and stronger two-bedroom comparable evidence before considering a purchase.

Strategy Rating

Analysis Confidence

The evidence confirms the property type, tenure, lease length, shell condition and guide price, but lacks floor area, detailed condition, refurbishment costs, rent, buyer premium, lease charges and sufficiently comparable valuation evidence.