10 Langbay Court, Cloisters Croft, Walsgrave, Coventry, West Midlands CV2 2AZ

Description

2 bedroom, ground floor apartment, ready to move into. Lounge to rear elevation with patio doors leading to communal gardens. Located in a popular residential area within 1 mile to University Hospital, or 0.5 miles via pedestrian route. Leasehold with 45 years remaining. Ideal investment opportunity.

Accommodation

GROUND FLOOR Hallway: Lounger: 11 ft 4 in x 14 ft Kitchen: 8 ft 10 in x 6 ft Bedroom 1: 13 ft 3 in x 9 ft 8 in max Bedroom 2: 8 ft 1 in x 7 ft 7 in Bathroom: OUTSIDE Communal gardens. Off road parking.

Location

Located in a popular residential area within 1 mile to University Hospital, or 0.5 miles via pedestrian route.

Tenure / Property Information

Investment Analysis

Recent same-block completed sales were £62,000 and £72,000 in 2026, while earlier sales ranged from £92,000 to £115,000. The subject’s 45-year lease is a material consideration, and the comparable lease terms are not supplied. A cautious evidence-based GDV range is £62,000–£72,000, with £67,000 as a working midpoint.

Investment Snapshot

Strategy Recommendation

Proceed only at or below the £45,000 guide, subject to legal-pack review, lease/lender advice and confirmation of service-charge liabilities. Do not rely on rental yield without verified rent.

Works Required

The flat is described as ready to move into. No specific refurbishment works or defects are evidenced; allowance excludes any works identified in the legal pack or inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £45,000 purchase, no evidenced works allowance and known buyer/admin charges of £2,640, total cost is £47,640. A 75% refinance at the £67,000 base GDV indicates £50,250 gross refinancing, theoretically exceeding stated acquisition cost by £2,610 before finance, tax and other costs. Short lease and lender valuation risk are significant.

Buy-to-Let Analysis

Rental evidence is insufficient, so rent and yield cannot be established. The £2,870 annual service charge and £45 ground rent materially affect net returns. The short lease may also restrict lender and tenant demand.

Flip Analysis

Using the £67,000 base GDV and £47,640 total cost, the gross spread is £19,360 before selling costs, finance, tax and any unquantified legal-pack charges. No supported selling allowance is available, so a reliable flip surplus cannot be calculated.

Maximum Bid Indicator

This is an HB screening estimate based on the supplied evidence and HB assumptions. It is not a formal valuation or instruction to bid.

Investor Risks & Due Diligence

• Only 45 years remain on the lease.

• £2,870 annual service charge plus £45 ground rent.

• No sufficiently specific rental evidence is available.

• Comparable sale lease terms and property specifications are not supplied.

• Additional legal-pack, search, seller-cost, legal or transfer charges may apply.

• EPC rating is E and the flat uses electric heating.

Recommendation

Proceed only at or below the £45,000 guide, subject to legal-pack review, lease/lender advice and confirmation of service-charge liabilities. Do not rely on rental yield without verified rent.

Strategy Rating

Analysis Confidence

Recent same-block sales and known purchase charges are available, but comparable lease terms, rental evidence, selling costs, legal-pack charges and refurbishment requirements are not.