Ground and First Floor, 11, Brent Road, London

Description

By order of a major housing association. Freehold building arranged as two self-contained maisonettes: ground and first floor garden maisonette vacant and requiring updating; second and third floor flat sold on a long lease.

Accommodation

Vacant accommodation, approximately 92m2 / 992 sq ft: Ground and First Floor Garden Flat B. First floor: reception room, kitchen, cloakroom/WC. Ground floor: entrance hall, three bedrooms, bathroom/WC. Outside: rear garden. Second and Third Floor Flat A: sold on a new lease for a term of 125 years from 12/12/2016.

Location

The property is located on Brent Road. Shopping amenities are available locally, with a further range of shops, bars and restaurants in Greenwich and Central London. Public transport links can be found at Woolwich Station and Falconwood Station, along with local bus services. Road links include the A205 and A2. Recreational pursuits are available at Shrewsbury Park.

Tenure / Property Information

Investment Analysis

The evidence does not include completed sales, a formal valuation, or sufficiently specific rental comparables. A reliable GDV, market value, refurbishment budget or maximum bid cannot therefore be established. The £249,000 figure is only the auction guide. The asset comprises a vacant three-bedroom garden maisonette requiring updating, together with a second maisonette sold on a 125-year lease; the legal and valuation treatment of the retained freehold and any possible share of freehold must be confirmed.

Investment Snapshot

Strategy Recommendation

Do not commit to a bid based on the current evidence. Review the legal pack, confirm the precise freehold/share-of-freehold position and lease terms, inspect the vacant maisonette, obtain a refurbishment quote and independent valuation, then reassess BTL or resale viability.

Works Required

Inspect the vacant ground and first floor maisonette and obtain quotations for the updating required. No specific defects, installations or scope of works are evidenced, so a reliable refurbishment allowance cannot be calculated.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported GDV, rent, refurbishment budget or refinance valuation. Any strategy must account for the vacant maisonette, the existing 125-year lease of Flat A, possible share-of-freehold wording and the legal pack.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific external rental comparable or auctioneer rent estimate is provided. The vacant maisonette may be lettable after updating, but rent, operating costs, finance costs and total project cost are unsupported. The long-lease disposal of Flat A also requires legal review before assessing freehold income or obligations.

Flip Analysis

A flip appraisal cannot be calculated because there are no completed sales, supported GDV, defined works budget or selling-cost allowance. The guide price alone is insufficient to demonstrate resale margin.

Investor Risks & Due Diligence

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

• No completed sales or formal valuation are supplied, so market value and GDV are unsupported.

• The vacant maisonette is stated to require updating, but the extent and cost of works are unknown.

• Flat A is sold on a 125-year lease from 12/12/2016; the legal pack must confirm the freeholder's rights, obligations, service-charge position and any income.

• The property may be offered with a share of freehold, subject to the legal pack.

• The seller may charge additional completion fees under the special conditions.

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

Recommendation

Do not commit to a bid based on the current evidence. Review the legal pack, confirm the precise freehold/share-of-freehold position and lease terms, inspect the vacant maisonette, obtain a refurbishment quote and independent valuation, then reassess BTL or resale viability.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, lease history, guide price and admin charge are supplied, but there are no comparable sales, rental evidence, rent estimate, refurbishment scope or GDV evidence.