Flat 3, 223A Church Road, Willesden, London, NW10 9EP

Description

A one bedroom second floor flat. The property forms part of a mixed use building and benefits from a private balcony. In need of modernisation. Vacant.

Accommodation

Second Floor - Entrance Hallway, Reception Room, Kitchen, Bedroom, Bathroom/WC.

Location

Located on Church Road, connecting to the High Road. Amenities are available nearby on Church Road, Willesden High Road and Harlesden High Street. The recreational amenities of Roundwood Park, Brentfield Open Space and Gladstone Park are all easily accessible. Transport links via Neasden, Dollis Hill and Harlesden stations. Neasden - Jubilee. Dollis Hill - Jubilee. Harlesden - Lioness / Bakerloo.

Tenure / Property Information

Investment Analysis

The evidence includes same-address leasehold sales at £168,000 in 2014 and £235,000 in 2017. These are historical and no current comparable evidence is supplied. A cautious indicative GDV range of £168,000–£235,000 is used, with a £200,000 base estimate, subject to modernisation, the legal pack and current market conditions. The £125,000 guide is before unknown buyer fees, VAT and possible seller charges.

Investment Snapshot

Strategy Recommendation

Potential refurbish-and-hold or BRRR candidate at the guide, but proceed only after reviewing the legal pack, confirming the new lease terms, obtaining a refurbishment budget and verifying all auction and seller charges. Do not set a reliable maximum bid from the supplied evidence alone.

Works Required

Modernisation of the flat as described by the auctioneer. The evidence does not specify individual defects, scope or costs, so no detailed works allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £200,000 base GDV, 75% refinancing equates to an indicative £150,000. The guide is below this amount, but the cash position cannot be established because refurbishment costs, buyer fees, VAT and other charges are unavailable. The historical GDV evidence is also dated.

Buy-to-Let Analysis

The supplied £1,950 pcm is an advertised asking rent, not achieved rent. This implies annual asking rent of £23,400 and a gross yield of 18.72% against the £125,000 guide, before buyer fees, VAT, refurbishment, finance, tax and operating costs. Yield on total cost cannot be established because works and charges are unknown.

Flip Analysis

A base resale value of £200,000 is estimated from the supplied historical same-address sales. A flip surplus cannot be calculated because refurbishment costs, acquisition charges, selling costs and VAT treatment are not supplied. The dated comparable evidence creates material resale-value uncertainty.

Investor Risks & Due Diligence

• Historical comparable sales may not represent current market value.

• The flat requires modernisation, but the scope and cost of works are not supplied.

• The £1,950 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Buyer fees, VAT treatment and possible seller charges are unknown.

• The legal terms of the new 990-year lease require review.

• The property forms part of a mixed-use building, with no supplied information on service charges, building obligations or commercial impact.

Recommendation

Potential refurbish-and-hold or BRRR candidate at the guide, but proceed only after reviewing the legal pack, confirming the new lease terms, obtaining a refurbishment budget and verifying all auction and seller charges. Do not set a reliable maximum bid from the supplied evidence alone.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, one asking rent and historical same-address sales are supplied, but there is no current valuation evidence, refurbishment budget, buyer fee, VAT, seller-charge or full legal-pack information.