Flat 43 (2FF), Frognal Court, Finchley Road, CAMDEN, London, NW3 5HG

Description

Leasehold second floor flat in Frognal Court, located off Finchley Road (A41). Shopping amenities are available locally, with further shops, bars and restaurants in West Hampstead and Central London. Public transport links are available at Finchley Road & Frognal and Finchley Road London Underground Stations, with local bus services. Road links include the A41 and A406. Recreational pursuits can be found locally.

Accommodation

Three bedrooms, reception room, kitchen, bathroom/wc

Location

The property is located off Finchley Road (A41), with West Hampstead to the west and Central London to the south. Finchley Road & Frognal London Underground Station is to the north and Finchley Road London Underground Station is to the south. The A41 and A406 (North Circular Road) are nearby.

Tenure / Property Information

Investment Analysis

Same-building Land Registry evidence ranges from £450,000 in September 2024 to £525,000 in September 2021. A base GDV of £475,000 is used, with a £450,000 low case and £500,000 high case. The comparison is indicative only because the comparable flat sizes, condition, lease lengths and service charges are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory lease, service-charge, ground-rent, special-conditions and inspection information. At the guide, the advertised rent gives an attractive headline yield, but the missing lease and property-cost data make a firm BTL, BRRR or flip bid inappropriate.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and any works identified, but no works budget can be supported until condition and lease information are available.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £475,000 base GDV, 75% refinancing equates to £356,250. Against the guide plus the known £1,800 fee, this suggests approximately £4,450 could theoretically be released before finance, tax and other costs. However, lease length, service charge, ground rent, valuation criteria and lender acceptability are unknown, so refinancing cannot be relied upon.

Buy-to-Let Analysis

The advertised asking rent of £2,999 pcm implies annual rent of £35,988 and a gross yield of 10.28% on the £350,000 guide, or 10.23% including the known £1,800 documentation fee. This is before service charge, ground rent, management, maintenance, finance, tax and any seller fees. The rent is advertised rather than achieved, and lease costs remain unknown, so the apparent yield is not yet reliable.

Flip Analysis

The base GDV is £475,000 against the £350,000 guide and known £1,800 documentation fee. No refurbishment allowance or selling-cost allowance is supported, so a defensible flip surplus cannot be calculated. The apparent margin is exposed to lease issues, transaction costs, condition and actual resale value.

Investor Risks & Due Diligence

• Lease length is not supplied and may affect value, mortgageability and resale.

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

• The £2,999 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Property condition and any refurbishment requirement are not evidenced.

• Comparable sale sizes, conditions and lease terms are not supplied, limiting GDV precision.

• Parking and heating arrangements are unknown.

Recommendation

Proceed only subject to satisfactory lease, service-charge, ground-rent, special-conditions and inspection information. At the guide, the advertised rent gives an attractive headline yield, but the missing lease and property-cost data make a firm BTL, BRRR or flip bid inappropriate.

Strategy Rating

Analysis Confidence

Same-building sold evidence and one advertised rent are available, but lease length, service charge, ground rent, condition, selling fees, parking and other material costs are unknown.