Flat 508, Michigan Building, 2, Biscayne Avenue, NEW PROVIDENCE WHARF, London, E14 9QT

Description

Long leasehold fifth floor purpose built self-contained flat with balcony. Accommodation: Fifth floor: Two bedrooms, reception room/dining room with balcony, kitchen, bathroom/WC, entrance hallway with storage cupboards

Location

The property is situated on Biscayne Avenue between its junctions with Thames Path and Fairmont Avenue. Public transport links include Blackwall and East India DLR stations, with Canary Wharf (Jubilee line and Elizabeth line) also within easy reach, together with a network of local bus services serving the surrounding vicinity. Road links include the A1261 Aspen Way and the A13. Shopping amenities can be found locally within Canary Wharf, with an extensive range of shops, bars and restaurants being found in Canary Wharf and the wider Docklands area. Recreational pursuits can be found locally at the open spaces of the Thames Path riverside walk, Mudchute Park & Farm and Greenwich Park across the river.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £5,000–£20,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

No reliable auctioneer-published current rent was identified in the supplied scrape. Market rent should be independently verified before bidding.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Confirm lease length, ground rent, service charge and major works

Recommendation

Preferred strategy: Buy-to-Let / Owner-Occupier. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Buy-to-Let: ★★★★☆

BRRR: ★★★☆☆

Flip: ★★★☆☆