Property Dossier · Leasehold flat
Period conversion · Queen's Park
Queen's Park, Westminster edge · W10 · leasehold period conversion over two floors, 760 sq ft
Tenure
Leasehold151 yrs · conversion
Council tax
Westminsterlow rates · band TBC
EPC
Eimprovable*
Nearest station
Queen's Park200m · Zone 2
6.4/10
Overall verdict
Pros
- 151-year lease — no extension or marriage-value worry in your lifetime
- Own front door + south-facing courtyard — rare character for a conversion
- 200m to Queen's Park — Zone 2 Bakerloo + Overground; superb commute
- Good schools on the doorstep — Wilberforce Primary 100m, secondary nearby
- Solid rental demand & ~5.3% yield — rents up ~40% in a decade
- Westminster's low council tax + price history as negotiation leverage
Cons
- EPC E — a heat sieve major — below C means not lettable to new tenants from ~2030; the core risk for what is essentially a yield play
- Flat capital growth — 0% since 2019 (~−20% in real terms); the pocket is capped by its tenure mix
- Noise — single-glazed sashes on busy the main road, plus inter-floor footstep / plumbing noise common in W10 conversions
- North-east aspect — main rooms get morning sun only (the courtyard aside)
- Second "bedroom" ~6.5m² — an office / nursery, not lettable; no flatshare fallback
- Informal small-block management — service-charge and major-works (roof / facade / drains) exposure
A yield flat, not a growth asset. The 151-year lease, a Zone 2 station at 200m and good schools are real strengths — but the price hasn't moved since 2019, and an EPC E period flat carries live 2030 letting risk. Treat the price history as leverage: a seller exiting at cost should take an offer nearer the ~£613k model value. Buy it for location and rent, not appreciation.
Buyer's due-diligence checklist
Lease & ownership
Lease, ground rent & the 2023 anomaly
151 years is excellent — confirm ground rent is peppercorn (likely if recently extended). One aggregator shows a £335k sale in 2023 that conflicts with the record; spend £3 on the Land Registry title to see the real chain (probably a lease-extension deed).
Service charge, freehold & major works
Only 5 flats, likely informally managed by a private freeholder. Ask who the freeholder is, whether it's share of freehold, the sinking-fund balance, and when roof / brickwork / drains were last done — major-works exposure is the real risk.
Price & negotiation
0% growth since 2019, seller exiting at cost after ~22 months, already 14+ days on market. Anchor around the £600–613k model value and let the price history do the arguing.
Building & condition
EPC E & 2030 risk
Cost secondary glazing + loft/ceiling insulation + heating controls — lifts the rating with no exterior changes and no planning permission. Factor the timeline if letting.
Noise & sound insulation
the main road traffic through single glazing (bedroom 1), the rail corridor just south, the 8:30 / 3:15 school run, and inter-floor footstep / plumbing noise. Visit at rush hour and a weekend evening; listen in the courtyard.
Layout & light
Confirm bedroom 2 (~6.5m²) works as office / nursery only, and check what daylight the NE rooms actually get.
Neighbours & surroundings
Walk it after dark
Adjacent to a nearby estate — crime has fallen, but check police.uk for the immediate streets and see it on a Friday night, not just the viewing slot.
Parking
No off-street; Westminster CPZ zone C, virtual emissions-priced permits, with a Westminster/Brent reciprocal stretch. Low-car area — station at 200m.
Nearby planning
Check the Westminster portal for applications close by that could affect outlook or noise.
Estimated value · Jun 2026
£600k–£615k
Last sold £635,000 · 29 Aug 2024
0% since 2019 · ~−20% in real terms · now asking £635k
Est. market rent£2,500–£2,660 pcm
Gross yield · est.≈ 5.3%
Aug 2013
Purchase
£550,000
Feb 2019
Resale — +15%
£635,000
Aug 2024
Resale — 0% since 2019
£635,000
Mid-2026
Now asking
£635,000
The flat
Lease length 151 yrs
No extension or marriage-value anxiety. Confirm ground rent is peppercorn — likely if it was recently extended.
Service charge & freehold verify
5-flat block, likely informal / private freeholder. Ask about the sinking fund, the freeholder, and whether it's share of freehold.
Council tax
Westminster — among the UK's lowest. the main road is the boundary; the Brent side costs roughly double. Band to confirm.
Energy rating EPC E
Lettable now (min. E) but EPC C looms ~2030 for new tenancies. Improvable via secondary glazing + insulation without touching the exterior.
Size & layout
760 sq ft over two floors, own front door, south-facing courtyard. Bedroom 2 (~6.5m²) is an office / nursery — effectively a 1.5-bed.
Conservation, not listed
Queen's Park Estate conservation area (1978) — not statutorily listed. Flats need consent for windows anyway; secondary glazing usually doesn't.
The area · W10
- Queen's Park 200m
- Direct to central London rail
- Rail corridor just south —
- Wilberforce Primary 100m
- Queens Park Community 1.1 km
Neighbourhood walk it
Westminster edge, adjacent a nearby estate. Crime has fallen, but check police.uk and walk it on a Friday night.
Wider context
Flood risk very low · broadband to 1,000 Mbps · low-car area (~0.5 cars/household).
Tenure mix · caps the local premium
Verify before you offer
1
EPC E → 2030 letting risk
The core risk for a yield play. Cost the improvement works and factor the regulatory timeline.
2
Land Registry title
Resolve the conflicting £335k 2023 record and confirm the lease + ground rent (£3).
3
Service charge & major works
Small informal block — roof, facade and drains are the exposure. Get the sinking-fund position.
4
Noise & aspect
the main road traffic + rail + inter-floor noise; NE light. Visit at rush hour and a weekend evening.
Where the price sits
The building is down 6.4% over 10 years; 2-beds model at ~£613k, yet it's asking £635k (£836/sqft vs a £900 building average). The pocket's tenure mix structurally caps the "Queen's Park premium," which lives north and east of here. There's a fair case to offer below asking.
A seller exiting at cost after 22 months, on a flat that hasn't grown since 2019 — the price history is your negotiating weapon, not just a warning.
Paraphrased · market analysis
Parking
No off-street parking. Westminster CPZ zone C with virtual, emissions-priced permits and a Westminster/Brent reciprocal stretch on the main road. Low-car area — the station's 200m away.