Flat E, 31 Belgrave Gardens, St. Johns Wood, London

Description

A two bedroom third floor flat. In need of some updating. A new lease on completion, service charge estimate below. EPC rating - D.

Accommodation

Third Floor - Two bedrooms, Lounge/Diner, Bathroom, Kitchen

Location

St John's Wood is a district in the City of Westminster in London. Belgrave Gardens can be accessed via Abbey Road and Greville Place. Abbey Road provides cafés, small shops, and everyday essentials, while St John's Wood Church Gardens and Paddington Recreation Ground offer outdoor recreation, including sports facilities, playgrounds, and open space. Transport: Kilburn High Road Station - Lioness; Kilburn Park - Bakerloo; St John's Wood - Jubilee.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Belgrave Gardens range from £337,500 to £670,000. The £670,000 sale is materially above the other evidence and no size, floor or specification details are provided to reconcile the range. The most recent sales are £337,500 and £405,000 in 2026. A cautious base GDV of £405,000 is used, with £337,500 as the low scenario and £520,000 as the high scenario based on the supplied evidence. This is an indicative analysis, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming all auction and seller charges, inspecting the flat and obtaining a detailed works quotation. Do not rely on a BTL or BRRR strategy until rent and full costs are evidenced. At the £390,000 guide, the apparent margin to the base GDV is narrow.

Works Required

General updating is described as required, but no detailed scope or cost evidence is supplied. Services are disconnected and must be reconnected by qualified engineers after completion; the heating system is not warranted or guaranteed. The legal pack should be reviewed for lease, service charge and other property requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the £405,000 base GDV would be £303,750. Cash left in cannot be calculated because refurbishment costs, buyer charges, VAT and other acquisition costs are unknown. The new 990-year lease is potentially supportive, but the legal pack and lease terms must be reviewed.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield cannot therefore be calculated. Buyer premium, VAT exposure, seller charges, service charge and refurbishment costs are also unspecified.

Flip Analysis

The base GDV is estimated at £405,000 from the supplied sold evidence. A flip surplus cannot be calculated because the works scope and costs, auction charges, VAT position, seller charges and selling allowance are not supplied. The guide is £390,000, leaving limited apparent headroom before these unknown costs.

Investor Risks & Due Diligence

• Unknown buyer premium and possible VAT may increase the acquisition cost.

• Seller charges and the seller's VAT election are not yet confirmed.

• The flat needs updating, but the works scope and cost are unknown.

• All services are disconnected and the heating system is not warranted or guaranteed.

• No sufficiently specific rental evidence is available, so income and yield cannot be assessed.

• Service charge information is referenced but no amount is supplied.

• The legal pack may contain material lease and sale-condition details not included in the supplied evidence.

• Completed-sale evidence on the street is widely dispersed, creating valuation uncertainty.

Recommendation

Proceed only after reviewing the legal pack, confirming all auction and seller charges, inspecting the flat and obtaining a detailed works quotation. Do not rely on a BTL or BRRR strategy until rent and full costs are evidenced. At the £390,000 guide, the apparent margin to the base GDV is narrow.

Strategy Rating

Analysis Confidence

There is recent same-street sold evidence and a stated new lease, but the comparable properties are not matched by size or specification, the sale range is wide, and rent, works costs, service charge, buyer fees, VAT and seller charges are unavailable.