Flats A and B, 55 Bruce Road, London

Description

By order of a major housing association. Freehold arranged as two flats: one self-contained garden flat vacant, and one upper flat sold off on a long lease.

Accommodation

Flat A - Vacant: entrance hall, one bedroom, reception room, kitchen, bathroom/WC. Outside: rear gardens. Approximate floor area: 47m² / 501 sq ft.

Location

The property is situated within Bruce Road, accessed from the north side of Craven Park. Public transport links include Harlesden Bakerloo Line underground and rail stations, along with local bus services. Road communications are afforded by the North Circular (A406). Local shopping amenities are available, with recreational pursuits including Roundwood Park to the east.

Tenure / Property Information

Investment Analysis

The £199,000 guide relates to a freehold arranged as two flats, but Flat B has been sold on a 125-year lease from 01/01/2025 and only Flat A is vacant. No completed sales, specific rental comparables, auctioneer rent estimate, GDV evidence or condition-based works budget were supplied. The freehold value therefore cannot be reliably estimated from the evidence. The £1,800 inclusive-of-VAT contract documentation fee is known; potential seller-charged completion fees remain unspecified.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease, title and special conditions and obtaining a professional valuation and condition report. On the supplied evidence, do not rely on a BTL, BRRR or flip case to justify bidding.

Works Required

No specific defects or refurbishment requirements are evidenced. Before bidding, inspect Flat A, its garden and common/freehold areas, and verify services, heating, parking, EPC position and compliance requirements. Any works allowance remains unsupported.

Rental & Market Context

Potential BRRR Position

BRRR cannot be modelled because there is no supported GDV, rent, refurbishment budget or finance information. The long lease over Flat B and the vacant status of Flat A require legal and physical due diligence before considering a refinance strategy.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate was supplied. Flat A is vacant, while Flat B is subject to a long lease, so the freeholder's income and rights depend on the lease terms, which were not provided. The £1,800 documentation fee and any seller fees would also affect returns.

Flip Analysis

A flip surplus cannot be calculated because no supported GDV, works budget or selling allowance was supplied. The asset is not wholly vacant, as Flat B is sold on a long lease, which limits the freehold resale analysis to the interests and income evidenced by the lease documentation.

Investor Risks & Due Diligence

• Flat B is sold on a 125-year lease, so the freehold income, rights and value depend on lease terms not supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available for Flat A.

• No condition survey or refurbishment budget is supplied for the vacant flat and associated freehold areas.

• Potential additional seller-charged completion fees are not specified.

• Parking and heating information require confirmation from the auction centre.

• The property is only partly vacant, limiting assumptions based on vacant possession of the whole asset.

Recommendation

Proceed only after reviewing the lease, title and special conditions and obtaining a professional valuation and condition report. On the supplied evidence, do not rely on a BTL, BRRR or flip case to justify bidding.

Strategy Rating

Analysis Confidence

The guide price, tenure, occupancy, floor area, EPC and known documentation fee are supplied, but there are no comparable sales, usable rent evidence, GDV, condition-based works budget, lease economics or complete fee schedule.