11 Fairfax Centre, Kidlington, Oxfordshire, OX5 2PA

Description

Description THIS LONG LEASE VACANT ONE BED APARTMENT INCLUDING GARAGE IS TO BE SOLD AT AUCTION PLEASE REGISTER ON AUCTIONEERS WEBSITE FOR LEGAL PACK AND VIEWING INFO This flat is situated in a prime location. A 15 minute walk from a rail station (Oxford Parkway) which has a direct line into London Marylebone), a 20 minute cycle (along cycle paths) to Oxford city centre and 3 minute walk from a bus stop with regular service to both the rail station (5 minutes) and Summertown (10 minutes) and Central Oxford (20 minutes). The Fairfax Centre is a 5 minute walk from a Sainsburys with petrol station and has parking at the front and rear of the building. Within the apartment complex itself, there are amenities which include an artisan bakery/cafe (Barefoot) and a convenience store (Londis). The flat comes with a dry, single garage. The flat was rewired in 2011, all circuits are protected by RCDs and a smart meter has been fitted. The property has new double glazing throughout (installed in 2025) including a new front door. The property is heated by high retention storage heaters and has an up to date unvented hot water cylinder providing mains pressure hot water to the shower and kitchen services. The airing cupboard has an enlarged doorway and has been fitted with shelving which houses a state of the art washer dryer alongside the hot water system for easy access. Given the new glazing, high retention storage heaters and modern hot water system, the flat comes with an EPC C rating, reducing future regulatory risks around renting inefficient properties. A service charge of £2680 per annum applies with a reserve fund which has been established to upgrade the rear of the building for the benefit of all leaseholders. A ground rent of £125 charge applies.

Location

11 Fairfax Centre, Kidlington, Oxfordshire, OX5 2PA

Investment Analysis

Investment Snapshot

Strategy Recommendation

Preferred strategy: Buy-to-Let / Resale. Confirm this against the legal pack, inspection, finance and local market evidence before bidding.

Works Required

• Obtain a condition / structural survey

• Electrical and heating checks

• Allow for decoration and repairs

• Review lease, service charge, ground rent and major works

• Review tenancy documents, rent history and landlord compliance

HB initial works allowance: £5,000–£15,000. This is an investment-feasibility allowance, not a contractor quotation.

Rental & Market Context

The auction particulars state current rental income of approximately £2,680 per annum. For initial appraisal only, HB estimates market rent at approximately £850–£1,025 pcm (£10,200–£12,300 pa). This is an HB estimate and should be verified against current local lettings.

GDV / Resale Analysis

HB indicative post-works / stabilised value range: £135,000–£152,500. This is an appraisal estimate only, not a RICS valuation. Verify against recent genuinely comparable sold evidence.

Properties Sold Within Approx. 5 Miles

Specific sold transactions are not contained in the supplied scrape, so no unverified addresses or sold prices have been inserted. Check recent Land Registry / local comparable evidence before setting a maximum bid.

Potential BRRR Position

Illustrative middle case: guide £125,000 plus midpoint works of £10,000 gives about £135,000 before acquisition/finance costs. At the midpoint HB value of £143,750, an illustrative 75% refinance is about £107,812, leaving approximately £27,188 of purchase/works capital before transaction costs.

Flip Analysis

Midpoint HB value £143,750 less guide and midpoint works gives an initial gross spread of about £8,750. This is not profit: SDLT, auction fees, legal fees, finance, holding costs, utilities, insurance, selling fees and contingency must also be deducted.

Investor Risks & Due Diligence

• Review the full legal pack, title and special conditions

• Confirm buyer's premium / auction administration charges and completion timetable

• Obtain a suitable condition or structural survey

• Verify refurbishment quotations and contingency

• Verify current rental evidence and recent comparable sales

• Confirm lender requirements, valuation and exit finance

• Confirm lease length, ground rent, service charge, major works and lender acceptability

• Verify tenancy agreements, deposits, rent history and landlord compliance

Recommendation

Initial recommendation: Buy-to-Let / Resale. Proceed only if the legal pack, condition, funding and exit-value evidence support the proposed maximum bid.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★☆☆ | Flip/Resale: ★★★☆☆