Flat B, 52 Oakley Road, Islington, London

Description

A two bedroom first and second floor flat. The property forms part of an attractive converted building and benefits from use of the communal rear garden. In need of modernisation. Vacant.

Accommodation

First Floor - Entrance Hallway, Reception Room, Kitchen. Second Floor - Two Bedrooms, Bathroom/WC. Third Floor - Loft.

Location

The property is situated on Coltham Road in Willenhall, within the Metropolitan Borough of Walsall. Local shops and everyday services are available within Willenhall town centre, along with schools and community amenities. Recreational amenities include nearby parks and open spaces such as Haggerston Park. Transport links include bus services and road access via the A454, A462 and nearby M6. Transport Essex Road - Great Northern. Canonbury - Mildmay, Windrush.

Tenure / Property Information

Investment Analysis

The supplied evidence is internally inconsistent: the address is Flat B, 52 Oakley Road, Islington, while the description refers to Coltham Road, Willenhall, and combines London and Walsall location references. Oakley Road comparable flat sales range from £468,500 to £1,650,000, but bedroom count, size, condition and exact comparability are not supplied. A supported GDV cannot therefore be established. The sole rental evidence is an advertised asking rent of £9,900 pcm, not an achieved rent, and should be treated cautiously until the property identity and market evidence are verified.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. First resolve the property/location discrepancy, inspect the flat, verify the rent, obtain refurbishment costs and review the legal pack and all buyer/seller charges.

Works Required

Modernisation is stated to be required, but no specific defects or scope are provided. Obtain a survey and contractor quotations before bidding; the legal pack should also be reviewed for the new 990-year lease and communal garden rights.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be modelled because GDV, refurbishment cost, acquisition charges and refinance value are unsupported. The new 990-year lease may be beneficial, but its full terms, service charge, ground rent and other restrictions must be checked in the legal pack.

Buy-to-Let Analysis

Using the single advertised asking rent of £9,900 pcm, annualised rent is £118,800 and the headline gross yield on the £500,000 guide is 23.76%. This is not an achieved rent, no operating costs or buyer fees are supplied, and the conflicting location information makes the rent evidence unreliable until verified. A dependable BTL assessment cannot be completed.

Flip Analysis

A flip appraisal cannot be completed reliably. Although Oakley Road sales are supplied, the comparables lack size, bedroom, condition and layout details, while the subject description contains conflicting locations. Refurbishment cost and selling allowances are also unavailable.

Investor Risks & Due Diligence

• Material inconsistency between the Oakley Road, Islington address and the Coltham Road, Willenhall description and location references.

• Modernisation is required but no quantified scope or cost is supplied.

• The £9,900 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Buyer fees, VAT exposure, seller charges and administration costs are not quantified.

• The new 990-year lease and associated terms require legal-pack verification.

• Sold comparables have no supplied bedroom, floor-area or condition details, limiting valuation reliability.

Recommendation

Do not bid on the current evidence. First resolve the property/location discrepancy, inspect the flat, verify the rent, obtain refurbishment costs and review the legal pack and all buyer/seller charges.

Strategy Rating

Analysis Confidence

The evidence contains a material address and location conflict, lacks property size and detailed condition, provides no refurbishment or fee figures, and includes only one advertised rental asking figure.