108 Manor Lea, Boundary Road, Worthing, West Sussex BN11 4RP

Description

A spacious 4th floor apartment with a well presented layout and large living room with balcony. Sea views from a west facing balcony and unallocated off-road parking, situated in a purpose built block only 0.2 miles from the beach at Worthing seafront and within easy reach of cafes and independent shops.

Accommodation

4th floor: Entrance hall, living room with balcony, kitchen, bedroom, bathroom, separate w.c. Outside: Communal gardens.

Location

Situated 0.2 miles from Worthing seafront and within easy reach of cafes and independent shops.

Tenure / Property Information

Investment Analysis

Same-block completed sales range from £160,000 to £246,000. The two most recent sales were £178,000 and £206,500; their average supports an indicative base GDV of £192,250, with a narrower evidence-based scenario range of £178,000–£206,500. Differences in flat condition, floor, outlook, lease terms and specification are unknown.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL or BRRR at the guide, subject to confirming the lease, service charges, legal title, special conditions and achievable rent. Do not bid solely on the apparent GDV discount.

Works Required

No specific refurbishment works are evidenced. The description states that the flat is well presented, so any works allowance remains unsupported and should be confirmed by inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the stated buyer premium, the indicative total cost before works and other undisclosed charges is £102,340. A 75% refinance against the £192,250 base GDV would be approximately £144,187.50, implying £41,847.50 more than this cost before finance, tax, works and other fees. Actual refinanceability depends materially on the missing lease, valuation, lender criteria and property costs.

Buy-to-Let Analysis

The auctioneer estimates rent at £12,000 per annum, equivalent to £1,000 pcm, producing a 12.00% gross yield on the £100,000 guide and 11.72% on the guide plus the £2,340 buyer premium. This is an estimate rather than passing rent, and service charges, ground rent, council tax and other ownership costs are not supplied, so net yield cannot be assessed.

Flip Analysis

The same-block completed sales support an indicative base GDV of £192,250, but no supported refurbishment budget, selling costs or additional auction charges are available. A reliable flip surplus and maximum bid therefore cannot be calculated. The apparent guide-price discount should not be treated as profit until legal, lease and condition information is confirmed.

Investor Risks & Due Diligence

• The property's tenure and lease details are not supplied.

• The auctioneer rent figure is an estimate, not confirmed passing rent or achieved market rent.

• Service charges, ground rent, council tax, EPC and heating information are absent.

• Additional fees may be payable under the Special Conditions of Sale.

• The comparable sale prices vary materially from £160,000 to £246,000 and may reflect differences between individual flats.

• Parking is unallocated rather than allocated.

• No condition inspection evidence or refurbishment budget is available.

Recommendation

Potentially suitable for BTL or BRRR at the guide, subject to confirming the lease, service charges, legal title, special conditions and achievable rent. Do not bid solely on the apparent GDV discount.

Strategy Rating

Analysis Confidence

There are five same-address completed sales and an auctioneer rent estimate, but the subject flat's tenure, lease terms, condition, service charges, EPC, council tax and other auction costs are not supplied.