Flat 8A, 8 Holdernesse Road, Tooting, London

Description

Self-contained ground floor flat with a reception room, bedroom, kitchen, shower room and cellar for storage. GIA approximately 57.13 sq m (615 sq ft), including cellar. The property is offered with vacant possession.

Accommodation

Reception Room, Bedroom, Kitchen, Shower Room, Cellar (storage); GIA approximately 57.13 sq m (615 sq ft) including cellar

Location

The property is situated on the north west side of Holdernesse Road. The shops, restaurants and bars of Tooting Bec are to the south. Tooting Bec underground station (Northern Line) is 0.1 miles to the south east. The A214 is to the west. Wandsworth Common is to the north and Tooting Commons are to the south east.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Holdernesse Road range from £365,250 to £831,011, but no comparable sizes, bedroom counts, condition, floor levels or lease terms are provided. They therefore do not support a reliable GDV for this 615 sq ft one-bedroom flat. The £300,000+ guide is below the lowest supplied sale, but market value cannot be established from the evidence alone.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after verifying comparable one-bedroom values, condition, legal title, lease terms, all auction charges and achievable rent; the indicated rent-to-guide yield is low.

Works Required

No refurbishment works or defects are evidenced. Allow only for inspections and any works confirmed by survey, legal review or auction documentation; no works budget can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because GDV, refurbishment costs, acquisition costs and finance assumptions are unsupported. The new 125-year lease from completion at a peppercorn ground rent is a positive stated tenure feature, but refinance value remains unverified.

Buy-to-Let Analysis

The supplied advertised asking rents are £650–£850 pcm, implying approximately 2.6%–3.4% gross yield against the £300,000 guide before fees, finance, voids, management and maintenance. These are asking rents rather than achieved rents, and no buyer or administration fees are supplied. BTL viability is therefore weak and cannot be fully assessed.

Flip Analysis

A flip assessment cannot be established. Although supplied same-road sales are above the guide, their comparability is unconfirmed and no refurbishment allowance, selling costs or reliable GDV is available. Any apparent margin would be speculative.

Investor Risks & Due Diligence

• Reliable GDV cannot be established because the supplied sales lack size, bedroom, condition and lease comparability details.

• The £650–£850 pcm rental evidence comprises advertised asking rents, not achieved rents.

• Buyer premium, administration charges and other possible seller or third-party fees are unspecified.

• No condition or refurbishment information is supplied, so total project cost is unknown.

• EPC, council tax, parking and heating details are not supplied.

• The property is leasehold, and the full legal terms of the new lease should be verified before bidding.

Recommendation

Do not bid on the current evidence alone. Proceed only after verifying comparable one-bedroom values, condition, legal title, lease terms, all auction charges and achievable rent; the indicated rent-to-guide yield is low.

Strategy Rating

Analysis Confidence

The property description, tenure, guide, occupancy and broad rental evidence are supplied, but there is no condition report, EPC, council tax, parking or heating information, no fees, and the sales comparables lack sufficient detail for valuation.