Flat 71, 3 Cornell Square, Nine Elms, London

Description

Vacant leasehold self-contained first floor flat. Key features: reception room/kitchen, bedroom, bathroom and balcony. GIA approximately 44.22 sq m (476 sq ft).

Accommodation

Reception Room/Kitchen, Bedroom, Bathroom, Balcony; GIA approximately 44.22 sq m (476 sq ft)

Location

Situated on the west side of Wandsworth Road, at its junction with Belmore Street. Local shops and amenities are available along Wandsworth Road, with a wider range available within Battersea Power Station. Nine Elms Underground Station is approximately 0.4 miles to the north. The A3 (Clapham Road) is easily accessible and provides a connection into both Central London and the M2 and M25 motorways. Battersea Park is within easy reach.

Tenure / Property Information

Investment Analysis

The supplied completed sales at 3 Cornell Square range from £245,000 to £650,000, with additional sales at £362,000, £400,000 and £455,000. However, the evidence does not identify the comparable flats' floor, size, condition, lease terms or transaction circumstances, so a reliable GDV or supported valuation range cannot be established for Flat 71. The £250,000+ guide is not a valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain flat-specific comparable evidence, rental evidence, full leasehold information and an inspection before considering a purchase or resale strategy.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and leasehold due diligence rather than assuming works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported GDV, rent, works budget and finance costs. The approximately 108-year lease is relatively substantial on the supplied evidence, but service charge, ground rent and resale value require verification.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The stated £2,930 annual service charge and £350 annual ground rent are material ongoing costs and would need to be deducted from any achievable rent.

Flip Analysis

A flip surplus cannot be calculated. Although same-address completed sales range from £245,000 to £650,000, the supplied records do not establish that they are directly comparable to this 476 sq ft first-floor flat or reflect its condition and lease terms. Selling costs are also not supplied.

Investor Risks & Due Diligence

• Uncertain market value because the supplied completed sales lack flat-specific details and vary materially from £245,000 to £650,000.

• No sufficiently specific rental evidence, preventing reliable yield analysis.

• Annual service charge of approximately £2,930 and ground rent of £350 reduce net income.

• Additional seller or third-party charges may apply, and the buyer fee is 1% plus VAT.

• Leasehold terms, service-charge history and other management information require verification despite approximately 108 years remaining.

• Vacant possession creates an income void until the flat is let.

Recommendation

Do not bid on the supplied evidence alone. Obtain flat-specific comparable evidence, rental evidence, full leasehold information and an inspection before considering a purchase or resale strategy.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, lease length and recurring charges are supplied, but there is no specific rental evidence, no condition-based works scope and no sufficiently detailed comparable-sale matching.