Flat D, 83 Messina Avenue, West Hampstead, London

Description

A one bedroom second floor flat. The property forms part of an attractive four storey converted building. In need of modernisation. Vacant.

Accommodation

Second Floor - Entrance Hallway, Reception Room, Kitchen, Bedroom, Bathroom/WC.

Location

Located on the north side of Messina Avenue. The property is located above a well established and busy local parade of shops. Convenient to the popular cafes, shops, bars and restaurants of West Hampstead. Recreational amenities of Hampstead Heath, Queen's Park and Paddington Recreation Ground are all easily accessible. Transport: West Hampstead - Mildmay, Suffragette, Jubilee. West Hampstead Thameslink - Thameslink.

Tenure / Property Information

Investment Analysis

Recent supplied sales on Messina Avenue range from £395,000 to £545,000, with the latest sale at £425,000 in March 2026. The comparables are not confirmed as matching the subject's one-bedroom accommodation, size or condition. A £425,000 base GDV is therefore an indicative scenario only; the property is vacant and requires modernisation, but the works scope and floor area are not supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, confirm lease terms and charges, inspect the flat, establish a fully costed modernisation budget and verify achievable rent before considering BTL, BRRR or a flip.

Works Required

Modernisation of the flat is required, but the supplied evidence does not identify specific defects, finishes, services or statutory works. A measured inspection, contractor specification and lease/legal review are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £425,000 base GDV, 75% refinance is £318,750. However, refurbishment costs, buyer premium, VAT, seller charges and other acquisition costs are unknown, so total project cost and cash left in cannot be calculated reliably. The new 990-year lease is potentially supportive, subject to legal-pack review.

Buy-to-Let Analysis

The only supplied rental evidence is an advertised asking rent of £2,400 pcm for a one-bedroom flat in Iverson Road, not an achieved rent or confirmed direct comparable. At that rent, annual gross rent is £28,800 and the gross yield on the £170,000 guide is 16.94%, before buyer premium, VAT or other costs. A reliable net yield cannot be established without confirmed rent, service charge, ground rent, insurance, management, maintenance and finance costs.

Flip Analysis

The supplied evidence indicates a possible base GDV of £425,000, with a £395,000 to £545,000 comparable range. A flip surplus cannot be calculated because the modernisation budget, buyer premium, VAT, seller charges, resale costs and finance costs are not supplied. The comparable evidence is also not confirmed as directly matching the subject flat.

Investor Risks & Due Diligence

• The sold comparables are not confirmed as matching the subject's one-bedroom size, layout or condition.

• The flat is in need of modernisation, but the extent and cost of works are unknown.

• The £2,400 pcm figure is an advertised asking rent for another property and is not an achieved or confirmed subject rent.

• Buyer premium, VAT and possible seller charges are excluded or unspecified, preventing a reliable all-in cost calculation.

• Lease terms, service charge, ground rent and other legal matters require review despite the stated new 990-year lease.

• The property is above a busy local parade of shops, which may affect noise, access or purchaser and tenant appeal, but no specific impact is evidenced.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, confirm lease terms and charges, inspect the flat, establish a fully costed modernisation budget and verify achievable rent before considering BTL, BRRR or a flip.

Strategy Rating

Analysis Confidence

Recent local sold evidence and one rental asking figure are available, but there is no floor area, confirmed comparable specification, detailed condition report, refurbishment budget, service-charge information, buyer fee or seller-charge detail.