11 Pauls Court, Pauls Lane, Hoddesdon, Hertfordshire, EN11 8UJ

Description

A ground floor one bedroom flat situated within a mid terrace building arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Bedroom, Bathroom. Exterior: rear garden and a parking space.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Barclay Park are within easy reach. Transport links are provided by Rye House rail station.

Tenure / Property Information

Investment Analysis

Five supplied completed sales at Pauls Court range from £195,000 to £208,000, with an average of £200,999. A base GDV of £200,999 is used, with £195,000 low and £208,000 high scenarios. The sales dates range from 2018 to 2022 and the comparable lease lengths are not supplied; the subject has approximately 55 years unexpired, so these are indicative only and may overstate value if the short lease is not reflected.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally and subject to legal-pack review, lease and lender checks, and confirmation of all fees and charges. The headline BTL yield is attractive at the guide, but the approximately 55-year lease makes short-lease risk the central issue.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the flat and review the legal pack before budgeting for works; only evidenced costs should be allowed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV, 75% refinancing equates to approximately £150,749. However, the short remaining lease, unspecified lender criteria and unknown purchase, legal, premium, works and lease-related costs prevent a reliable cash-left-in calculation. No refurbishment requirement is evidenced, so a BRRR case cannot be validated from the supplied information.

Buy-to-Let Analysis

The supplied advertised asking rent of £1,300 pcm implies £15,600 annual gross rent and a 15.6% gross yield against the £100,000 guide. This is based on one advertised listing, not achieved rent, and excludes the unspecified buyer premium, disbursements, service charges, lease costs, finance and maintenance. The approximately 55-year lease may materially restrict mortgage availability and tenant/investor demand.

Flip Analysis

Indicative resale value is supported by the supplied Pauls Court sales, with a base GDV of £200,999. A flip surplus cannot be calculated because refurbishment costs, buyer premium, disbursements, selling costs and any lease-extension costs are not supplied. The comparable sales may not reflect the subject's approximately 55-year lease.

Investor Risks & Due Diligence

• Approximately 55 years remain on the lease, which may limit mortgage availability, resale demand and value.

• Buyer premium amount is unspecified and additional disbursements or seller-related costs may apply.

• The £1,300 pcm figure is an advertised asking rent from one listing, not an achieved or passing rent.

• No property condition, service charge, ground rent, lease-extension cost, EPC, council tax or heating information is supplied.

• The comparable sales are dated 2018 to 2022 and their lease lengths and exact comparability are not supplied.

Recommendation

Proceed only conditionally and subject to legal-pack review, lease and lender checks, and confirmation of all fees and charges. The headline BTL yield is attractive at the guide, but the approximately 55-year lease makes short-lease risk the central issue.

Strategy Rating

Analysis Confidence

Completed sales and one advertised rent are available, but the comparables' lease terms, property condition, service charges, ground rent, buyer premium, disbursements, finance terms and lease-extension costs are not supplied.