Flat 7, 2(A) Agar Grove, Camden Town, NW1 9TD

Description

A self-contained second floor flat requiring modernisation. Leasehold Flat with Vacant Possession.

Accommodation

Studio Room/Kitchenette; Shower/WC

Location

Situated off St Pancras Way, close to local shopping and travelling facilities including Camden Road Train Station and Camden Town Underground Station (Northern Line). Regent’s Park is also nearby.

Tenure / Property Information

Investment Analysis

The only supplied completed-sale evidence comprises repeated records for 2A Agar Grove at £268,000-£280,000, all dated January 2008 and not expressly identified as Flat 7. A provisional evidence-based GDV range is therefore £268,000-£280,000, with a £274,000 base case, subject to substantial uncertainty from the age and limited unit-specific nature of the evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Treat as a potential value-add project only after confirming Flat 7-specific current comparables, lease and service-charge details, a refurbishment quotation, and all special-condition costs.

Works Required

Modernisation of the studio room/kitchenette and shower/WC is indicated by the description. No detailed specification, measured accommodation or refurbishment cost evidence is supplied, so the works budget cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £95,000 guide, the property is materially below the provisional £274,000 base GDV, but refurbishment costs and full acquisition costs are unknown. A 75% refinance of the base GDV would be £205,500; cash left in cannot be calculated without a supported works budget and complete costs. The aged, non-unit-specific comparables make the refinance assumption high risk.

Buy-to-Let Analysis

BTL yield cannot be established reliably. The £2,200 pcm listing is an asking rent for flats and apartments in Agar Grove generally, while the £6,000 pcm listing relates to a two-bedroom apartment; neither is sufficiently comparable to this vacant studio. Service charge, ground rent, finance, insurance and operating costs are also not supplied.

Flip Analysis

A provisional GDV of £268,000-£280,000 is indicated only by repeated January 2008 records for the address. Flip surplus cannot be calculated because refurbishment costs, selling costs and applicable seller charges are unsupported. The apparent guide-to-GDV spread should not be treated as profit.

Investor Risks & Due Diligence

• Completed-sale comparables are from January 2008 and may not represent current market value.

• The supplied sales are recorded for 2A Agar Grove rather than expressly for Flat 7.

• The property requires modernisation, but no scope or cost estimate is supplied.

• Rental evidence is asking-rent data and is not sufficiently comparable to the studio flat.

• Buyer costs include the £1,500 premium, while additional seller charges may apply under the special conditions.

• Service charge, ground rent, insurance, finance costs and other leasehold costs are not supplied.

• EPC is rated E.

Recommendation

Do not bid on the current evidence alone. Treat as a potential value-add project only after confirming Flat 7-specific current comparables, lease and service-charge details, a refurbishment quotation, and all special-condition costs.

Strategy Rating

Analysis Confidence

The property description, guide, tenure and lease term are supplied, but the valuation evidence is old and not clearly unit-specific; rent, works costs, service charges, selling costs and some completion charges are unavailable.