Pennine Drive, Golders Green Estate, NW2 1NX - 2 views - 4 months ago
Listed for £850,000
January 5, 2024
This property presents a compelling development opportunity, situated on a substantial corner plot. Originally a three-bedroom semi-detached house, it has undergone significant extensions, including a wrap-around extension on the ground floor, a first-floor extension, and the addition of a loft bedroom. The current state of the property is partially completed, offering the potential to be transformed into a spacious family home. The Vendor has an active planning permission to convert into two large flats and details can be seen on the Barnet planning portal with reference number 23/5104/FUL. Numerous materials have also been left at the house and will be included as part of the sale if required.
The existing layout allows for the creation of a large family residence with six bedrooms, two/three reception rooms and wrap around garden.
While the property is partially renovated, it is essential to note that it requires a buyer who is prepared to undertake a substantial project. This presents an excellent opportunity for those looking to customise and complete the renovation to their specifications. Whether pursuing the development of a generous family home or exploring the potential for multiple flats, this property offers versatility and the chance to shape it into a desirable living space.
Golders Green Estate is situated at the convergence of Golders Green, Cricklewood, and West Hampstead in London. This location is highly favoured by residents and visitors alike due to its excellent transportation connections, providing convenient access to West London, the West End, North London, and Greater London. The appeal of Golders Green Estate is heightened by the proximity to various transport links, making it easy for residents to commute to different parts of the city. This accessibility is particularly attractive to those who work or socialize in the West End or West London, as well as individuals traveling to and from North London and Greater London. One notable feature contributing to the area's popularity is the ongoing development, including the nearby Brent Cross Town. This development adds a dynamic element to the neighbourhood, potentially bringing in new amenities, green spaces, and community facilities. Additionally, the presence of Brent Cross West Train Station further enhances the transportation infrastructure, providing residents with an additional means of commuting and connecting to broader rail networks.
The gross internal area post extension could be 188m2 (2023 square ft).
CALLING OUT CASH BUYERS ONLY !
Population in NW2 | 67,441 |
Population in London | 4,771,921 |
Town centre distance | 5.23 miles away |
Nearest school | 0.30 miles away |
Nearest train station | 0.63 miles away |
| |
Rental demand | Landlord's market |
Rental growth (12m) | -13% |
Sales demand | Buyer's market |
Capital growth (5yrs) | +17% |
Cash In | |
Deposit (25%) | £212,500 |
Stamp duty & legals | £56,700 |
Refurb costs | £98,487 |
Total cash in | £367,687 |
| |
Cash Out | |
Monetisation | Rent OutFlip |
Rent range | £2,000 - £7,150 |
Rent estimate | £5,133 |
Revaluation | £1,318,897 |
New mortgage | £989,173 |
Cash left in | £24,452 |
Running costs/mo | £5,168 |
Cashflow/mo | £-35 |
Cashflow/yr | £-420 |
Gross yield | 7% |
50 rents
Rent | Date | Distance | Address | Beds | Type | |
£2,000 | 02/24 | 0.1 mi | Cheviot Gate, London, NW2 | 3 | Detached House | |
£6,000 | 02/24 | 0.15 mi | - | 3 | Flat | |
£7,000 | 02/24 | 0.15 mi | - | 3 | Detached House | |
£2,496 | 02/24 | 0.15 mi | Cotswold Gardens , London, NW2 | 4 | Flat | |
£2,000 | 02/24 | 0.15 mi | Cheviot Gardens, Cricklewood, NW2 | 3 | Detached House | |
£2,297 | 02/24 | 0.16 mi | Hendon Way, London, NW2 | 3 | Flat | |
£2,200 | 02/24 | 0.23 mi | Pennine Drive, London, NW2 | 3 | Flat | |
£4,498 | 01/24 | 0.23 mi | Ridge Hill, London, NW11 | 5 | Detached House | |
£3,800 | 10/23 | 0.25 mi | Hendon Way, London, NW2 | 4 | Terraced House | |
£5,750 | 01/24 | 0.26 mi | Armitage Road, Golders Green, London, NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.26 mi | Wessex Gardens, London, NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.26 mi | London, NW11 | 5 | Detached House | |
£7,150 | 02/24 | 0.26 mi | Wessex Gardens, Golders Green, NW11 | 5 | Detached House | |
£6,912 | 02/24 | 0.26 mi | Wessex Gardens, Golders Green, London | 5 | Detached House | |
£6,911 | 02/24 | 0.26 mi | Wessex Gardens, Brent Cross, London , NW11 | 5 | Detached House | |
£6,912 | 02/24 | 0.26 mi | Wessex Gardens, London | 5 | Detached House | |
£7,150 | 01/24 | 0.26 mi | Wessex Gardens, Golders Green NW11 | 5 | Flat | |
£6,912 | 01/24 | 0.26 mi | Wessex Gardens, London, NW11 | 5 | Flat | |
£6,912 | 02/24 | 0.26 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£6,912 | 02/24 | 0.26 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£5,750 | 01/24 | 0.27 mi | Armitage Road, Golders Green, NW11 | 5 | Detached House | |
£7,150 | 01/24 | 0.27 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£2,800 | 01/24 | 0.28 mi | Sunflower Court, London | 3 | Flat | |
£6,912 | 02/24 | 0.29 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, Golders Green, London NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.29 mi | WESSEX GARDENS, London, NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, Golders Green | 5 | Detached House | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, Golders Green, NW11 | 5 | Flat | |
£6,911 | 01/24 | 0.29 mi | Wessex Gardens, London, NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, Golders Green, London, NW11 | 5 | Detached House | |
£6,912 | 01/24 | 0.29 mi | Wessex Gardens, London, NW11 | 5 | Flat | |
£5,995 | 12/23 | 0.32 mi | Armitage Road, NW11 | 5 | Detached House | |
£5,997 | 01/24 | 0.32 mi | Armitage Road, Golders Green, NW11 | 5 | Detached House | |
£4,984 | 02/24 | 0.38 mi | The Ridgeway, Golders Green, London, NW11 | 3 | Flat | |
£2,895 | 08/21 | 0.39 mi | Sandringham Road, Golders Green, NW11 | 3 | Terraced House | |
£2,750 | 02/24 | 0.4 mi | Cloister Road, London, Greater London, NW2 2NP | 3 | Detached House | |
£2,750 | 02/24 | 0.4 mi | Cloister Road, London, NW2 | 3 | Terraced House | |
£4,983 | 02/24 | 0.41 mi | The Ridgeway, London | 3 | Flat | |
£4,983 | 02/24 | 0.41 mi | The Ridgeway, Golders Green, NW11 | 3 | Flat | |
£5,000 | 01/24 | 0.43 mi | Cloister Road, Child's Hill, London, NW2 | 4 | Flat | |
£5,500 | 01/24 | 0.43 mi | The Ridgeway, Golders Green, NW11 | 5 | Flat | |
£5,200 | 02/24 | 0.44 mi | - | 5 | Semi-Detached House | |
£5,000 | 01/24 | 0.44 mi | Hodford Road, Golders Green | 5 | Detached House | |
£2,350 | 02/24 | 0.45 mi | - | 3 | Terraced House | |
£2,249 | 12/23 | 0.45 mi | Brent Terrace, Brent Cross West | 3 | Terraced House | |
£2,167 | 02/24 | 0.45 mi | Caddington Road, Cricklewood NW2 | 3 | Flat | |
£3,000 | 02/24 | 0.46 mi | Montpelier Rise, London, NW11 | 3 | Flat | |
£3,000 | 02/24 | 0.46 mi | - | 3 | Terraced House | |
£2,300 | 02/24 | 0.49 mi | Woodstock Avenue, Golders Green, NW11 | 3 | Flat |
Sold prices | £1.1M - £6.7M |
Sold prices/m² | £5,329/m² - £16,667/m² |
| |
Square metres | ~186 m² |
Price/m² | £4,570/m² |
Value estimate | £867,000 |
| |
End value, after refurb | £1,318,897 |
Uplift in value | +55% |
38 sold prices
Price | Date | Distance | Address | Price/m² | m² | Beds | Type | |
£1.8M | 02/23 | 0.21 mi | 49, Basing Hill, London, Greater London NW11 8TG | - | - | 6 | Detached House | |
£1.7M | 02/21 | 0.27 mi | 28, Armitage Road, London, Greater London NW11 8RD | £6,772 | 254 | 6 | Detached House | |
£2.6M | 08/23 | 0.33 mi | 22, Gresham Gardens, London, Greater London NW11 8PB | £8,900 | 291 | 6 | Semi-Detached House | |
£2.0M | 03/21 | 0.36 mi | 94, The Ridgeway, London, Greater London NW11 9RU | £7,028 | 281 | 6 | Semi-Detached House | |
£1.6M | 01/21 | 0.38 mi | 20, The Vale, London, Greater London NW11 8SG | £7,729 | 207 | 6 | Semi-Detached House | |
£3.2M | 04/21 | 0.54 mi | 3, Wycombe Gardens, London, Greater London NW11 8AN | £12,075 | 265 | 6 | Detached House | |
£3.0M | 02/23 | 0.55 mi | 2, Lyndale Avenue, London, Greater London NW2 2PY | £16,667 | 180 | 6 | Semi-Detached House | |
£3.2M | 04/21 | 0.57 mi | 3, Wycombe Gardens, London, Greater London NW11 8AN | £12,075 | 265 | 6 | Detached House | |
£1.7M | 06/21 | 0.57 mi | 801, Finchley Road, London, Greater London NW11 8DP | - | - | 6 | Detached House | |
£2.3M | 09/21 | 0.6 mi | 14, Rodborough Road, London, Greater London NW11 8RY | £15,203 | 148 | 6 | Detached House | |
£1.1M | 07/22 | 0.61 mi | 16, St Marys Road, London, Greater London NW11 9UG | - | - | 6 | Terraced House | |
£2.7M | 06/21 | 0.65 mi | 41, Lyndale Avenue, London, Greater London NW2 2QB | - | - | 6 | Semi-Detached House | |
£2.6M | 10/20 | 0.67 mi | 10, Hocroft Road, London, Greater London NW2 2BL | £7,864 | 330 | 6 | Semi-Detached House | |
£4.6M | 06/23 | 0.67 mi | 31, West Heath Avenue, London, Greater London NW11 7QJ | - | - | 6 | Detached House | |
£4.3M | 09/21 | 0.68 mi | 50, Farm Avenue, London, Greater London NW2 2BH | - | - | 6 | Detached House | |
£1.1M | 01/24 | 0.71 mi | 29, Sneath Avenue, London, Greater London NW11 9AJ | £8,295 | 134 | 6 | Semi-Detached House | |
£4.5M | 08/21 | 0.77 mi | 3, Beaumont Gardens, London, Greater London NW3 7TF | - | - | 6 | Detached House | |
£6.7M | 12/22 | 0.8 mi | 15, West Heath Avenue, London, Greater London NW11 7QS | £13,158 | 506 | 6 | Detached House | |
£3.5M | 03/23 | 0.81 mi | 24, Burgess Hill, London, Greater London NW2 2DA | - | - | 6 | Detached House | |
£1.2M | 03/21 | 0.81 mi | 5, Sinclair Grove, London, Greater London NW11 9JH | £6,977 | 172 | 6 | Semi-Detached House | |
£3.3M | 01/21 | 0.81 mi | 10, Elm Walk, London, Greater London NW3 7UP | £11,828 | 279 | 6 | Detached House | |
£6.3M | 10/21 | 0.81 mi | Morris House, 2b, Elm Walk, London, Greater London NW3 7UP | £12,327 | 507 | 6 | Detached House | |
£5.0M | 09/22 | 0.82 mi | 7, Golders Park Close, London, Greater London NW11 7QR | - | - | 6 | Detached House | |
£3.3M | 11/21 | 0.83 mi | 3, Clorane Gardens, London, Greater London NW3 7PR | £11,340 | 291 | 6 | Semi-Detached House | |
£3.9M | 07/22 | 0.83 mi | 7, Clorane Gardens, London, Greater London NW3 7PR | - | - | 6 | Detached House | |
£1.5M | 02/21 | 0.83 mi | 13, Portsdown Avenue, London, Greater London NW11 0NH | £5,329 | 289 | 6 | Detached House | |
£3.4M | 09/23 | 0.84 mi | 13, Burgess Hill, London, Greater London NW2 2DD | £15,200 | 220 | 6 | Detached House | |
£3.0M | 12/19 | 0.85 mi | 43, Platts Lane, London, Greater London NW3 7NL | £11,546 | 262 | 6 | Detached House | |
£2.3M | 11/22 | 0.87 mi | 42, Corringham Road, London, Greater London NW11 7BU | - | - | 6 | Semi-Detached House | |
£1.6M | 11/22 | 0.87 mi | 58, Shirehall Park, London, Greater London NW4 2QX | £7,429 | 212 | 6 | Detached House | |
£4.7M | 03/21 | 0.89 mi | 34, Hollycroft Avenue, London, Greater London NW3 7QL | £13,439 | 346 | 6 | Semi-Detached House | |
£4.6M | 03/20 | 0.91 mi | 13, Hollycroft Avenue, London, Greater London NW3 7QH | £14,154 | 325 | 6 | Semi-Detached House | |
£3.4M | 07/20 | 0.92 mi | 21, Hollycroft Avenue, London, Greater London NW3 7QH | £11,148 | 305 | 6 | Semi-Detached House | |
£2.5M | 02/21 | 0.93 mi | 13, Park Avenue, London, Greater London NW11 7SL | £8,605 | 294 | 6 | Detached House | |
£1.9M | 01/21 | 0.94 mi | 22, The Park, London, Greater London NW11 7SU | £8,756 | 217 | 6 | Semi-Detached House | |
£1.9M | 06/21 | 0.97 mi | 138, Fordwych Road, London, Greater London NW2 3PA | £9,439 | 196 | 6 | Semi-Detached House | |
£1.4M | 06/20 | 0.99 mi | 13, Shirehall Lane, London, Greater London NW4 2PE | £7,105 | 204 | 6 | Detached House | |
£2.5M | 08/21 | 1 mi | 13, Reynolds Close, London, Greater London NW11 7EA | - | - | 6 | Terraced House |