1 Bowood, Harford Drive, Frenchay, Bristol, BS16 1NS

Description

A leasehold ground floor flat within an established purpose-built block, with a private balcony and garage. The flat is offered in good decorative order and has recently updated electrics and EICR, double glazing and recently fitted carpets.

Accommodation

722 sq ft comprising a generously proportioned reception room with access to a private balcony, separate kitchen and laundry room, two double bedrooms and a bathroom.

Location

Located for countryside walks towards Frenchay Common and along the Frome Valley Walkway towards Hambrook. The amenities of Downend, Abbeywood and Emersons Green are a short drive away. Frenchay is approximately half a mile from Junction 1 of the M32, with Bristol city centre approximately 5 miles away. UWE and a range of large employers are within a few minutes' drive, and the M4 is one junction away.

Tenure / Property Information

Investment Analysis

The five supplied completed sales for the same Bowood development range from £210,000 to £240,000, with an average of £224,200. Given the flat is described as being in good decorative order with updated electrics, double glazing and recently fitted carpets, a base GDV of £225,000 is reasonable. The observed comparable range supports £210,000 to £240,000, subject to exact flat position, lease terms, condition and market movement.

Investment Snapshot

Strategy Recommendation

Investigate as a potential BTL or BRRR purchase only after verifying the rent, service-charge/management-fee structure, leasehold documents and lender acceptability. The supplied evidence does not support bidding above a separately calculated maximum bid.

Works Required

No specific refurbishment defects or priced works are evidenced. The property is described as in good decorative order with updated electrics, EICR, double glazing and recently fitted carpets. Allowance is therefore shown as £0 solely because no works cost is supported; inspections, cleaning and routine maintenance should be verified before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £1,800 buyer premium and with no supported refurbishment allowance, base acquisition cost is £186,800. A 75% refinance of the £225,000 base GDV is £168,750, leaving indicative cash in of £18,050 before finance, tax and other costs. The outcome depends on lender valuation, mortgage terms, leasehold underwriting and confirmation of the recurring charges.

Buy-to-Let Analysis

The auctioneer's estimated rent of £1,400–£1,500 pcm implies £16,800–£18,000 annual gross rent. At the £185,000 guide, the midpoint annual rent of £17,400 produces a 9.41% gross yield; including the £1,800 buyer premium, the yield is 9.31%. These are gross figures and exclude finance, voids, letting, maintenance, ground rent and leasehold charges. The rent evidence is an estimate rather than achieved rent. The supplied £118 monthly management fee and £1,416 annual service charge require clarification because they are numerically identical and may represent overlapping or separate charges.

Flip Analysis

The comparable evidence supports a base resale value of £225,000, implying £38,200 before selling costs, finance, tax and any works when compared with the £186,800 guide-plus-premium cost. No selling allowance or refurbishment cost is supplied, so a formal flip surplus is not calculated. The margin is exposed to valuation, saleability and auction purchase costs.

Investor Risks & Due Diligence

• The £1,400–£1,500 pcm rent is an auctioneer estimate, not achieved or passing rent.

• The £118 monthly management fee and £1,416 annual service charge may be overlapping or separate; this needs documentary confirmation.

• The property is leasehold and subject to recurring ground rent and service-charge liabilities, including a stated roof contribution.

• The EPC is D and no heating information is supplied.

• Auction purchase conditions require the £1,800 buyer premium on exchange and rapid payment of the balance of deposit monies.

• No formal survey, legal pack review, lender valuation or quantified works schedule is supplied.

• The comparable sale range is £210,000–£240,000, creating valuation risk around the achievable GDV.

Recommendation

Investigate as a potential BTL or BRRR purchase only after verifying the rent, service-charge/management-fee structure, leasehold documents and lender acceptability. The supplied evidence does not support bidding above a separately calculated maximum bid.

Strategy Rating

Analysis Confidence

Strong same-development completed-sale evidence and clear tenure, size, occupancy and guide-price data are available. Confidence is reduced by the auctioneer-only rent estimate, ambiguity between management fees and service charge, and the absence of a formal inspection, finance costs and selling costs.