Flat 34 Winterbourne House, Portland Road, London, W11 4LS

Description

A two bedroom third floor flat. A new 990 year lease to be granted upon completion. Benefitting from a private balcony. In need of modernisation.

Accommodation

Third Floor - Reception Room, Kitchen, Two Bedrooms, Bathroom/WC, Balcony

Location

The property is situated within Winterbourne House on Portland Road within the Royal Borough of Kensington and Chelsea. Local shops and cafés are available along Portobello Road, Ladbroke Grove and in the surrounding Notting Hill area. Recreational amenities include nearby open spaces such as Kensington Memorial Park and Holland Park. Transport links include Ladbroke Grove and Latimer Road Underground stations and road access via the A40, providing connections across West and Central London. Transport Underground - Holland Park (Central)

Tenure / Property Information

Investment Analysis

The £315,000 guide is the only current pricing evidence. The sole supplied comparable is the same building but an inferior-time 2011 sale at £244,000, so it is not sufficient to establish a current GDV. No current comparable sales, rental evidence, buyer premium, VAT or other acquisition costs are supplied.

Investment Snapshot

Strategy Recommendation

Do not rely on the guide as value. Obtain current comparable sales, inspect the flat and heating, confirm the new lease terms, and obtain the buyer premium, VAT and refurbishment budget before bidding.

Works Required

Modernisation of the flat as required, based on the description. The heating system requires inspection because its condition is not warranted or guaranteed. No specific defects or quantified works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR viability cannot be established without a supported post-refurbishment GDV, refurbishment budget, rent and full acquisition-cost schedule. A new 990-year lease is stated to be granted on completion, but the legal and financial terms should be verified.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Acquisition costs and refurbishment costs are also unknown.

Flip Analysis

A flip appraisal cannot be quantified. The 2011 same-building sale is too historic to support a current resale value, while modernisation costs, selling costs and current market comparables are absent.

Investor Risks & Due Diligence

• Current market value cannot be established from the single 2011 comparable.

• The flat is described as needing modernisation, but the scope and cost are unknown.

• The heating system condition is not warranted or guaranteed.

• Buyer premium and VAT may apply but are not quantified.

• The new 990-year lease terms and completion arrangements require legal verification.

• No supported rental evidence is available for yield assessment.

Recommendation

Do not rely on the guide as value. Obtain current comparable sales, inspect the flat and heating, confirm the new lease terms, and obtain the buyer premium, VAT and refurbishment budget before bidding.

Strategy Rating

Analysis Confidence

Evidence includes the guide, property description and a new lease statement, but lacks current sales comparables, rent evidence, quantified works, acquisition fees and selling costs.