Flat 31 Tavistock Court, Tavistock Square, Bloomsbury, London, WC1H 9HE

Description

A Vacant Third Floor Studio Flat Measuring Approximately 370 Sq Ft in Need of Refurbishment. The property comprises a third floor studio flat situated within a purpose built block arranged over ground and eight upper floors. Potential for reconfiguration (subject to obtaining all relevant consents).

Accommodation

Third Floor: Studio Room, Kitchen, Bathroom, Store Room.

Location

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

Tenure / Property Information

Investment Analysis

The available sold evidence is from the same block but ranges from £179,000 to £880,000 and does not identify the comparable flats’ size, condition, bedroom configuration or lease length. The subject has approximately six years unexpired, making the comparables unreliable for establishing a market value or GDV. No evidence supports a formal refurbishment budget, lease-extension cost or resale value. The £125,000+ guide plus the known £1,800 administration charge totals £126,800 before any other costs, disbursements or works.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Proceed only after specialist legal, leasehold and valuation advice confirms the lease strategy, costs and achievable value.

Works Required

Refurbishment is required, but the evidence does not specify the condition or scope of works. Any reconfiguration would be subject to obtaining all relevant consents. The legal pack should establish the lease position, service charges, ground rent, consents and any disbursements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable on the available evidence. No reliable GDV, refurbishment cost, lease-extension cost or refinance valuation is available, and the very short unexpired lease may restrict mortgage and refinance options.

Buy-to-Let Analysis

A nearby advertised one-bedroom rent of £2,123 pcm is asking rent evidence, not achieved rent, and is not confirmed for this vacant 370 sq ft studio. A BTL yield therefore cannot be established. The approximately six-year lease is a major lending, lettability and resale constraint.

Flip Analysis

A flip appraisal cannot be established. Same-block sold prices vary materially and lack comparable size, condition and lease information. The approximately six-year lease and unknown refurbishment and selling costs create substantial valuation uncertainty.

Investor Risks & Due Diligence

• Approximately six years remain on the lease, creating significant lease-extension, mortgage, resale and valuation risk.

• Same-block sold comparables range from £179,000 to £880,000 and lack sufficient detail to be reliable.

• Refurbishment is required but no cost evidence is supplied.

• Potential reconfiguration requires all relevant consents.

• Buyer disbursements may be payable under the legal pack and are not quantified.

• No council tax, parking or heating information is supplied.

Recommendation

Do not bid on the supplied evidence alone. Proceed only after specialist legal, leasehold and valuation advice confirms the lease strategy, costs and achievable value.

Strategy Rating

Analysis Confidence

The property description and guide are supplied, but the lease is exceptionally short, comparable details are incomplete and no supported works, lease-extension, finance, service-charge or property-specific rental figures are available.