Flat C, 86, Cambridge Street, London, SW1V 4QQ

Description

Long leasehold self-contained mid-floor flat requiring updating. By order of a major housing association.

Accommodation

Entrance hall, studio room, kitchen, bathroom and separate WC. Approximately 32m² / 340 sq ft.

Location

Situated on Cambridge Street, well positioned for the amenities of Pimlico, Victoria, Knightsbridge, Westminster and Battersea. Transport options include local bus routes, rail links via Pimlico, Sloane Square and Victoria London Underground and rail stations, or along the River Thames.

Tenure / Property Information

Investment Analysis

The property is a vacant, self-contained 32m² studio flat requiring updating, offered on a new 990-year lease at a peppercorn ground rent. The supplied completed sales on Cambridge Street range from £499,500 to £1,575,000, but their sizes, bedroom counts, configurations, condition, floor levels and lease terms are not provided. The £499,500 sale at No. 62 is the closest apparent reference but is not sufficiently specific to support a reliable valuation for this 340 sq ft studio. No sufficiently specific rental evidence or quantified refurbishment evidence is available. The £255,000 guide and £1,800 administration charge are noted, but a supported GDV, rent, maximum bid or project return cannot be established.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the lease, service-charge and ground-rent details, special conditions, inspection findings, a works quotation and reliable studio rental and comparable-sale evidence before considering a purchase or resale strategy.

Works Required

Updating works are indicated by the description, but the scope is not specified. Any works assessment should be based on inspection and may include updating the studio accommodation, kitchen, bathroom, separate WC and finishes, subject to confirmation of actual condition.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR appraisal cannot be supported without a reliable GDV, quantified works budget, rent, service-charge information and lease details. The proposed new 990-year lease at a peppercorn ground rent is potentially helpful, but the financial impact of the acquisition and refurbishment cannot be calculated from the evidence supplied.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charge, ground rent details, parking and heating information are also awaited. The £255,000 guide and £1,800 administration charge are known, while any seller-charged completion fees remain subject to the special conditions.

Flip Analysis

A flip appraisal cannot be supported. The Cambridge Street sales are completed-sale evidence, but they do not provide sufficiently specific size, layout, condition or lease information for this studio flat. No supported refurbishment allowance or selling-cost allowance is available.

Investor Risks & Due Diligence

• Lease information is awaited, including remaining term, annual service charge, annual ground rent and review details, although the property is stated to be sold on a new 990-year lease at a peppercorn ground rent.

• The seller may charge additional completion fees under the special conditions of sale, but the amount is not supplied.

• The flat requires updating, but the condition and scope of works are not quantified.

• No sufficiently specific rental comparable or auctioneer rent estimate is supplied.

• The supplied completed sales do not state size, bedroom count, configuration, condition, floor level or lease terms, limiting their valuation usefulness.

• Parking and heating information are not supplied.

Recommendation

Do not bid on the current evidence alone. Obtain the lease, service-charge and ground-rent details, special conditions, inspection findings, a works quotation and reliable studio rental and comparable-sale evidence before considering a purchase or resale strategy.

Strategy Rating

Analysis Confidence

The address, accommodation, tenure, vacancy, guide and one known buyer charge are supplied, but the comparable sales are not sufficiently detailed, while rent, refurbishment cost, lease information, service charges, ground rent details and possible seller fees are unavailable.