Flat G, 17 Ponsonby Terrace, Pimlico, London

Description

Vacant long leasehold self-contained second floor flat with approximately 984 years remaining on the lease. GIA approximately 69.30 sq m (746 sq ft).

Accommodation

Reception room, two bedrooms, kitchen and bathroom.

Location

Situated on the south west side of Ponsonby Terrace. Pimlico underground station (Victoria line) is approximately 0.2 miles to the west. The shops and amenities of Pimlico are to the west. The A202 is to the south and Riverside Walk Gardens to the east.

Tenure / Property Information

Investment Analysis

The only supplied comparable is 33–35 Ponsonby Terrace, sold for £495,000 in January 2019, but its size, specification and exact comparability are not provided and the sale is dated. The older £315,000 and £129,500 sales are also insufficient for a current valuation. Current GDV, refurbishment cost and maximum bid cannot therefore be reliably established from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Review the legal pack, inspect the flat, confirm all leasehold charges and obtain current comparable sales and rental evidence before considering BTL, BRRR or resale.

Works Required

No specific works are evidenced. Obtain inspection and legal-pack information before budgeting for any repairs, refurbishment or compliance works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be underwritten without a supported current GDV, rent, refurbishment budget and complete purchase-cost information. The long lease is positive, but ground-rent information is deferred to the legal pack.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Ground rent, service charge, finance costs and other acquisition costs are also unknown.

Flip Analysis

A flip surplus cannot be calculated. The £495,000 2019 Ponsonby Terrace sale provides historical context only and is not sufficient evidence of current resale value or the subject flat's exact market value. Selling costs are also unsupported.

Investor Risks & Due Diligence

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

• No reliable current GDV is supported by the supplied dated and non-specific comparables.

• Property condition and any required works are unknown.

• Ground rent information is referred to in the legal pack but not supplied.

• Buyer, administration and other third-party charges are unknown.

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

Recommendation

Do not bid on current evidence alone. Review the legal pack, inspect the flat, confirm all leasehold charges and obtain current comparable sales and rental evidence before considering BTL, BRRR or resale.

Strategy Rating

Analysis Confidence

The property description, tenure, lease length, guide price and vacant possession are supplied, but current valuation, rental evidence, condition, service charge, ground rent, buyer fees and other costs are unavailable.