London Flat A, 209 Highbury Quadrant, Highbury, London, N5 2TE

Description

Vacant long leasehold self-contained lower ground floor flat with reception room, bedroom, kitchen, bathroom, rear garden and GIA approximately 62.3 sq m (671 sq ft).

Accommodation

Reception room, bedroom, kitchen, bathroom and rear garden; GIA approximately 62.3 sq m (671 sq ft).

Location

Situated on the north-west side of Warwick Road. The shops and amenities of Highbury are to the west; Arsenal underground station (Piccadilly Line) is approximately 0.5 miles west; the A1 is to the west; Clissold Park is to the east.

Tenure / Property Information

Investment Analysis

Indicative GDV is based on the most relevant supplied evidence: 193A Highbury Quadrant sold for £415,500 in December 2023. The property is not identical and no comparable size, condition or specification is supplied. The 2009 sales are historic and are not reliable current-value evidence. This is therefore an indicative, not formal, valuation.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR subject to confirming the achievable rent, condition, lease documentation and all acquisition costs. Do not rely on the asking rent or indicative GDV without further due diligence.

Works Required

No repair or refurbishment works are evidenced. The flat should be inspected before bidding, with any works allowance based on confirmed condition only.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £415,500 GDV, a 75% refinance would be approximately £311,625. This is £54,625 above the guide price before works, fees, finance and taxes, but total project cost and actual refinance terms are unknown. The strategy requires valuation and rent confirmation before reliance on this surplus.

Buy-to-Let Analysis

The supplied rental evidence is an advertised asking rent of £3,240 pcm near Highbury Quadrant, not an achieved rent and not confirmed for this flat. At that rent, annual gross rent is £38,880 and the gross yield on the £257,000 guide is approximately 15.13%. A yield on total project cost cannot be established because works, buyer/admin charges and other costs are unknown.

Flip Analysis

An indicative £415,500 GDV is supported by one non-identical December 2023 local sale. Flip profitability cannot be calculated because refurbishment costs, acquisition charges and selling costs are not supplied. The lower-ground-floor layout, garden and actual condition may affect resale value, but the evidence does not quantify that impact.

Investor Risks & Due Diligence

• The main comparable is a different flat, with no supplied comparison of size, condition or specification.

• The £3,240 pcm rental evidence is an advertised asking rent rather than achieved rent and is not confirmed for this property.

• Buyer premium, admin charge and other potential seller or third-party charges are not supplied.

• Property condition and any refurbishment requirement are not evidenced.

• The lower-ground-floor configuration and garden may affect valuation and liquidity, but no supporting adjustment evidence is supplied.

Recommendation

Potential BTL or BRRR subject to confirming the achievable rent, condition, lease documentation and all acquisition costs. Do not rely on the asking rent or indicative GDV without further due diligence.

Strategy Rating

Analysis Confidence

The property description, tenure and guide are supplied, but there is only one relatively recent non-identical comparable, rental evidence is asking rent only, and condition, works, fees and other property costs are unavailable.