10 Moatside, Brampton, Carlisle, Cumbria

Description

A one bedroom ground floor flat. The property forms part of a purpose built block. In need of modernisation. Vacant.

Accommodation

Ground Floor - Reception Room, Kitchen, Bedroom, Bathroom/WC.

Location

Brampton, Carlisle is a small market town with a quiet residential feel, serving as a local hub for surrounding rural communities while benefiting from proximity to Carlisle. Carlisle is a regional centre for Cumbria with a service-based economy, strong transport connections, and a role shaped by its border location and surrounding rural area. There are local amenities in the town centre on Main Street, approximately 0.5 miles, and plenty of surrounding green space for recreational activities.

Tenure / Property Information

Investment Analysis

The supplied same-block leasehold comparables range from £61,000 to £70,000, with the two most recent sales at £61,000 and £70,000. A reasonable evidence-based base GDV is £66,000, with a low/high range of £61,000–£70,000. The comparison is imperfect because bedroom count, condition, floor and exact specification are not supplied. The £511.46 monthly service charge, including a sinking-fund contribution, is a major affordability and resale consideration.

Investment Snapshot

Strategy Recommendation

Do not bid on headline yield alone. Proceed only after reviewing the legal pack, lease, service-charge accounts, sinking-fund position, planned works and lender acceptability; otherwise avoid due to the unusually high recurring charge and unknown modernisation cost.

Works Required

Modernisation is required, but the evidence does not identify the specific defects or scope. Allowance may be needed for updating the kitchen, bathroom, decoration and floor finishes, subject to inspection and the legal pack; no reliable works cost can be calculated from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £66,000 base GDV, 75% refinancing would equate to approximately £49,500. A meaningful cash-left-in or equity calculation cannot be completed because refurbishment costs, purchase costs and buyer/admin fees are not supplied. The high recurring service charge may also restrict lender appetite, valuation and refinance terms.

Buy-to-Let Analysis

The only rental evidence is a £600 pcm advertised asking rent from Newtown, Low Crosby, Cumbria, rather than a confirmed achieved rent for this flat or Brampton. At that rent, gross yield on the £25,000 guide is 28.8% before costs. However, the service charge alone is approximately £6,137.52 per year, leaving only about £1,062.48 before finance, insurance, maintenance, voids, tax and management; this makes the apparent guide-price yield misleading. The lease, service-charge budget, sinking-fund liability and planned works require detailed review.

Flip Analysis

The evidence supports a broad resale value range of £61,000–£70,000, with a £66,000 base case. Flip surplus cannot be calculated because refurbishment costs, acquisition costs and selling costs are unsupported. The high service charge and any planned building works could reduce buyer demand and resale value.

Investor Risks & Due Diligence

• Very high service charge of approximately £511.46 per month.

• Large sinking-fund contribution and possible future planned works require legal-pack verification.

• Modernisation is required, but the scope and cost are unknown.

• Rental evidence is only an advertised asking rent and relates to a different stated location.

• Lease terms, ground rent, restrictions and lender acceptability are not supplied.

• No parking, heating or council-tax information is provided.

• Resale value may be affected by the high service charge and building liabilities.

Recommendation

Do not bid on headline yield alone. Proceed only after reviewing the legal pack, lease, service-charge accounts, sinking-fund position, planned works and lender acceptability; otherwise avoid due to the unusually high recurring charge and unknown modernisation cost.

Strategy Rating

Analysis Confidence

There are several directly comparable same-block sales and a stated guide price, but bedroom/condition comparability, rental evidence, refurbishment costs, purchase fees, lease terms, service-charge liabilities and building works details are incomplete.