Flat 36, Meriden Court, Chelsea Manor Street, London, SW3 3TT

Description

Leasehold self-contained 2nd floor flat with full vacant possession.

Accommodation

Room, kitchen, bathroom, storage cupboard

Location

The property is situated within Meriden Court on Chelsea Manor Street, in one of London’s most sought-after and affluent postcodes. Sloane Avenue links South Kensington and Sloane Square, offering exclusive shops, bars and restaurants nearby. Public transport links include South Kensington and Sloane Square Underground Stations, together with local bus services. Road communications include the A4 Brompton Road and A308 Fulham Road. Local recreational pursuits include the Natural History, Science and V&A Museums, Hyde Park and the Saatchi Gallery.

Tenure / Property Information

Investment Analysis

Recent completed sales in the same development range from £425,000 to £530,000, including £440,000 and £450,000 in February/March 2025. However, the comparables are not adjusted for this flat's exceptionally short lease, accommodation size, condition or lease charges. With only 5 years 11 months remaining, the comparable evidence cannot support a reliable GDV without specialist short-lease valuation and lease-extension advice.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Proceed only after specialist valuation of the short lease, confirmation of lease-extension rights and costs, full service-charge and ground-rent information, review of special conditions, and confirmation of finance or an identified cash strategy.

Works Required

No condition defects or refurbishment requirements are supplied. Do not assume a works budget. Priority due diligence is the lease, extension or enfranchisement position, service charge, ground rent, review provisions, parking/heating details and seller's special conditions.

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. A refinance value cannot be established from the long-lease comparables because the subject lease is exceptionally short. Refinanceability, lease-extension cost and lender criteria require confirmation before bidding.

Buy-to-Let Analysis

BTL cannot be underwritten because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The 5-year-11-month lease is a major lending, lettability and resale constraint, while service charge and ground rent are unknown.

Flip Analysis

A flip appraisal cannot be reliably calculated. Same-development sales provide long-lease market context only and do not establish the value of this short-lease flat. Purchase costs, refurbishment costs, seller fees and lease-extension costs are unknown.

Investor Risks & Due Diligence

• Only 5 years 11 months remain on the lease, creating substantial lease-extension, lending and resale risk.

• Annual service charge, ground rent and review provisions are unknown.

• No specific rental evidence is available, so rental income and yield cannot be established.

• The accommodation is described only as a room, kitchen, bathroom and storage cupboard; bedroom count and floor area are not supplied.

• Additional seller fees may be payable under the special conditions, but their amount is unknown.

• The supplied sold comparables may have materially different lease lengths, sizes and conditions, so they are not directly comparable.

Recommendation

Do not bid on the current evidence. Proceed only after specialist valuation of the short lease, confirmation of lease-extension rights and costs, full service-charge and ground-rent information, review of special conditions, and confirmation of finance or an identified cash strategy.

Strategy Rating

Analysis Confidence

Same-development sold evidence is available, but the flat's size, condition, rental value, service charge, ground rent, seller fees, lease-extension economics and financing position are unknown; the remaining lease is only 5 years 11 months.