10 Leylands Road, Corsham, Wiltshire

Description

Spacious purpose built 2 bedroom, second floor flat in need of updating towards the edge of the popular town of Corsham. Ideal investment or first time buy.

Accommodation

Entrance hall, living room, kitchen, 2 double bedrooms and bathroom.

Location

Towards the edge of the popular town of Corsham.

Tenure / Property Information

Investment Analysis

Recent same-road Land Registry evidence is £112,000 for 14 Leylands Road in June 2025 and £118,000 for 20 Leylands Road in March 2022. A cautious base GDV of £112,000 is used, with a £112,000–£118,000 evidence-supported range. The comparable condition and precise flat specification are not supplied, while this property is stated to need updating.

Investment Snapshot

Strategy Recommendation

Potential BTL or first-time-buyer purchase, but proceed only after reviewing the legal pack, confirming the new lease terms, inspecting the updating requirement and securing a price that leaves an acceptable margin below the supported GDV.

Works Required

Update the flat as required, based on inspection and the legal pack. The evidence does not specify which elements require work or provide a reliable refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, a 75% refinance is approximately £84,000. Cash required and equity released cannot be assessed because the purchase price, refurbishment cost and transaction costs are unavailable. The new 999-year lease remains subject to legal-pack details.

Buy-to-Let Analysis

The auctioneer estimates potential good-order income of £9,600 per annum (£800 pcm). This is an estimate rather than achieved rent, and no sufficiently specific rental comparable was identified. Gross yield cannot be calculated because the guide price, purchase price, works cost and buyer costs are unavailable.

Flip Analysis

The evidence supports a base resale value of approximately £112,000, with a range of £112,000–£118,000 from same-road completed sales. A flip surplus cannot be calculated because there is no purchase price, refurbishment budget, buyer-cost data or supported selling allowance.

Investor Risks & Due Diligence

• Guide price and buyer, administration and other fees are not supplied.

• The property needs updating, but the work scope and cost are unknown.

• The £9,600 annual rent is an auctioneer estimate rather than achieved rent, with no sufficiently specific rental comparable.

• The new 999-year lease and associated terms remain subject to the legal pack.

• On-street parking is first come, first served.

• EPC and council tax information are not supplied.

Recommendation

Potential BTL or first-time-buyer purchase, but proceed only after reviewing the legal pack, confirming the new lease terms, inspecting the updating requirement and securing a price that leaves an acceptable margin below the supported GDV.

Strategy Rating

Analysis Confidence

There are two relatively recent same-road completed sales and an auctioneer rent estimate, but the guide price, fees, refurbishment scope, EPC, council tax, comparable condition and legal-pack details are unavailable.