Flat A, 4 Drylands Road, Hornsey

Description

One bedroom ground floor flat benefiting from a rear garden, well located for the amenities of Hornsey and Crouch End, in need of modernisation. Vacant.

Accommodation

Ground Floor - Reception Room, WC, Bedroom, Kitchen, Bathroom/WC; Lower Ground Floor - Cellar

Location

Situated in a popular residential area of Hornsey, close to the amenities of Crouch End and its selection of independent shops, cafés, restaurants and bars. Conveniently located for local supermarkets including Waitrose, Tesco Express and Sainsbury's, nearby schools, Priory Park and Stationers Park. Hornsey railway station and Harringay station are within easy reach. Transport: National Rail - Hornsey (Great Northern).

Tenure / Property Information

Investment Analysis

The guide is £290,000. Sold evidence on Drylands Road ranges from £337,000 to £750,000, but the comparables do not provide bedroom counts, floor areas, condition, garden details or configuration. The subject is a vacant one-bedroom ground-floor flat with a rear garden and cellar, so the available evidence is insufficient to establish a reliable GDV or value range.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. First verify the lease grant, measured accommodation, title, garden and cellar rights, condition, refurbishment costs and achievable rent; then reassess against the £290,000 guide.

Works Required

Modernisation is required, but the evidence does not specify the condition or scope of works. Obtain a detailed inspection and quotations before bidding; no unsupported refurbishment allowance is applied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported without a reliable post-works GDV, refurbishment budget, rent and total acquisition costs. The proposed new 990-year lease is a positive stated feature, but title and completion terms still require legal review.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. Modernisation costs, operating costs and lease-related costs are also unknown.

Flip Analysis

A flip assessment cannot be established. The sold comparables are materially inconsistent and lack the property-specific details needed to adjust them to this one-bedroom flat. No works budget or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• Sold comparables range widely and lack bedroom, size, condition and configuration details.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• The property needs modernisation, but the scope and cost are unknown.

• Buyer premium, administration charge and other auction fees are not supplied.

• The new 990-year lease is stated to be granted on completion and requires legal verification.

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

Recommendation

Do not bid on the current evidence alone. First verify the lease grant, measured accommodation, title, garden and cellar rights, condition, refurbishment costs and achievable rent; then reassess against the £290,000 guide.

Strategy Rating

Analysis Confidence

The property description and guide are supplied, but there is no specific rental evidence, no condition-based works budget, no fees, no measured floor area and no directly comparable one-bedroom sales evidence.