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

Description

Leasehold second floor flat with three bedrooms, reception room, kitchen and bathroom/wc.

Accommodation

Three bedrooms, reception room, kitchen, bathroom/wc

Location

The property is located off Finchley Road (A41). Shopping amenities are available locally with a further range of shops, bars and restaurants found within West Hampstead lying to the west and within Central London located to the south. Public transport links are available at Finchley Road & Frognal London Underground Station lying to the north and at Finchley Road London Underground Station (Jubilee Line) located to the south along with a network of local bus services serving the surrounding areas. The property is served by road links including the A41 and the A406 (North Circular Road) lying to the north. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Same-building HM Land Registry comparables range from £450,000 in September 2024 to £500,000–£525,000 in 2021, with older evidence at £475,000 and £586,000. A cautious base GDV of £475,000 is used, with a £450,000–£500,000 evidence-supported scenario range. Exact flat size, condition and lease terms are unavailable, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Conditional BTL consideration at or near the guide, subject to satisfactory lease, service-charge, ground-rent, condition and legal enquiries. Do not set a firm maximum bid until those costs and any works are quantified.

Works Required

No specific defects or refurbishment works are evidenced. Allowance should remain subject to inspection, lease review and confirmation of the flat’s condition. The known buyer contract documentation fee is £1,800 inclusive of VAT; potential seller charges are not quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £350,000 guide, the known £1,800 buyer fee would bring the purchase figure to at least £351,800 before works and any seller charges. A 75% refinance against the £475,000 base GDV would be approximately £356,250. Cash left in cannot be established because works, lease liabilities, finance costs and other completion charges are unknown.

Buy-to-Let Analysis

The directly matching Frognal Court rental evidence is an advertised asking rent of £2,999 pcm, producing £35,988 annual gross rent and approximately 10.28% gross yield on the £350,000 guide. This excludes service charge, ground rent, finance, voids, management, maintenance and tax. The £825 pcm College Crescent evidence is not used as the primary rent because it describes a different property/location context.

Flip Analysis

The base GDV is estimated at £475,000 from same-building completed sales. A flip surplus cannot be calculated reliably because refurbishment costs, selling costs, lease costs and any seller fees are unavailable. The apparent GDV over the guide is therefore not sufficient evidence of a profitable flip.

Investor Risks & Due Diligence

• Lease length, ground rent, review provisions and service charge are awaited.

• The £2,999 pcm figure is an advertised asking rent rather than achieved or passing rent.

• No condition survey or quantified refurbishment allowance is supplied.

• The £1,800 buyer documentation fee is known, but possible seller charges are unspecified.

• Parking and heating details are unconfirmed.

• Exact flat attributes and comparability to the completed sales are not provided.

Recommendation

Conditional BTL consideration at or near the guide, subject to satisfactory lease, service-charge, ground-rent, condition and legal enquiries. Do not set a firm maximum bid until those costs and any works are quantified.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and one directly matching advertised rent, but flat size, condition, lease length, service charge, ground rent, parking, works and completion charges remain unconfirmed.