Flat 3, 56 Pembridge Villas, Notting Hill, London

Description

A one bedroom second floor flat. The property forms part of an attractive converted end of terrace building and benefits from use of the communal gardens. In need of modernisation. Vacant.

Accommodation

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

Location

Located on the corner of Pembridge Crescent and Pembridge Villas. Local amenities are available along Westbourne Grove, Pembridge Road and Portobello Road. The popular amenities of Kensington Gardens and Holland Park are nearby. A broad range of recreational amenities are available at Kensington Gardens. Transport Notting Hill Gate - Central, Circle, District. Holland Park - Central. Queensway - Central.

Tenure / Property Information

Investment Analysis

The supplied completed sales range from £450,000 to £1,625,000 for flats at 50B–50D Pembridge Villas. However, no comparable floor areas, bedroom counts, condition or precise comparability information is provided, so a supported GDV for this one-bedroom flat cannot be established. The £450,000 guide is therefore not validated by the evidence. The only rental evidence is one £750 pcm advertised asking rent, which is not an achieved rent.

Investment Snapshot

Strategy Recommendation

Do not bid at the guide without the legal pack, a physical inspection, verified comparable evidence, a refurbishment quotation and confirmed buyer/seller charges. On the supplied evidence, the low indicated rental yield does not support a BTL or BRRR purchase.

Works Required

Modernisation of the vacant flat, subject to inspection and the legal pack. The supplied evidence does not identify specific defects or provide a works budget, so no detailed scope or cost can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget, buyer fee, service charge or other project costs are available. The new 990-year lease is noted, but refinance proceeds cannot be calculated without a supported valuation.

Buy-to-Let Analysis

At the £450,000 guide, the sole advertised £750 pcm rent equates to £9,000 per year and a 2.0% gross yield before works, finance, service charge, leasehold costs, buyer fees, VAT and other costs. The rent is only an asking rent, and the buyer fee and property outgoings are unspecified. BTL viability appears weak on the supplied evidence.

Flip Analysis

A flip appraisal cannot be reliably completed. The available sales are same-street flat transactions but lack sufficient size, bedroom, condition and comparability detail, while refurbishment costs and selling costs are unknown. No supported resale surplus can therefore be calculated.

Investor Risks & Due Diligence

• The supplied sold comparables lack floor area, bedroom count, condition and other details needed to establish a reliable GDV.

• The £750 pcm figure is an advertised asking rent rather than achieved or passing rent.

• The property is stated to need modernisation, but no refurbishment scope or cost is provided.

• Auction buyer fees are unspecified and VAT or other seller charges may apply.

• Leasehold costs, including service charge and ground rent, are not supplied.

• The legal pack and terms of the new 990-year lease require review before bidding.

Recommendation

Do not bid at the guide without the legal pack, a physical inspection, verified comparable evidence, a refurbishment quotation and confirmed buyer/seller charges. On the supplied evidence, the low indicated rental yield does not support a BTL or BRRR purchase.

Strategy Rating

Analysis Confidence

The address, tenure, vacancy, lease term, guide, limited sold evidence and one asking rent are supplied, but comparable specifications, floor area, service charges, works costs, buyer fees, VAT treatment and a supported valuation are absent.