112 Enville Way, Highwoods, Colchester, Essex

Description

Vacant one-bedroom first floor flat for improvement in a purpose-built block. The flat has double-glazed windows and an allocated parking space.

Accommodation

Ground floor: communal entranceway with stairs to first floor. First floor: landing, private entrance opening to entrance hallway, living room with archway to kitchen, bedroom and bathroom with W.C. Outside: communal grounds and allocated parking space.

Location

Situated in a residential location to the north of Colchester city centre. Highwoods is well placed for access to High Woods Country Park, Colchester Hospital, Tesco supermarket and the A12 and A120. Colchester city centre offers high street shopping, bars, restaurants, recreational facilities and transportation links including a mainline railway station providing access to London Liverpool Street.

Tenure / Property Information

Investment Analysis

Completed sales on Enville Way range from £145,000 to £178,000. Four sales cluster between £145,000 and £156,000, while £178,000 is the highest recorded comparable. As bedroom count, floor level, condition and sale particulars are not supplied, a cautious base GDV of £150,000 is used, with a low scenario of £145,000 and high scenario of £178,000. The lease has a long unexpired term and peppercorn ground rent, but service charge and lease restrictions are unknown.

Investment Snapshot

Strategy Recommendation

Potential value-add BTL or resale opportunity, but only proceed after confirming condition, service charge, lease terms and all auction costs. Do not set a final bid without a verified works budget and conservative resale/rental appraisal.

Works Required

The property is described as being for improvement, but no specific defects or works are evidenced. Obtain a viewing and survey before budgeting; any works allowance should be based on confirmed condition. Check communal and leaseholder obligations, service charge, electrical, plumbing, heating, kitchen, bathroom and decorative condition before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £150,000 base GDV, 75% refinance is approximately £112,500. The potential refinance position appears positive relative to the £70,000 guide, but cash left in cannot be calculated because refurbishment costs, buyer/admin charges, other non-optional fees, taxes and service charges are not quantified. Valuation and lending assumptions also require confirmation.

Buy-to-Let Analysis

Advertised asking rents of £825–£875 pcm imply £9,900–£10,500 annual gross rent. Against the £70,000 guide, this equates to approximately 14.1%–15.0% gross yield before fees, works, finance, service charge, voids and management. Against the £150,000 base GDV, the rent equates to approximately 6.6%–7.0% gross yield. Passing rent is not evidenced and service charge is unknown.

Flip Analysis

The comparable evidence supports a broad resale range of £145,000–£178,000, with a cautious base of £150,000. A flip surplus cannot be calculated because refurbishment costs, buyer/admin fees, taxes and selling costs are not supplied. The £178,000 sale should not be assumed achievable because its bedroom, condition and specification are unknown.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not evidenced.

• Service charge, reserve fund and other leasehold costs are unknown.

• Administration, search, repayment, VAT, Stamp Duty and Land Registry costs may be payable but are not quantified.

• Comparable sale specifications and bedroom counts are not supplied, limiting GDV reliability.

• Advertised rents are asking rents rather than achieved or passing rents.

• Vacant possession creates letting, void and condition risk until the property is inspected.

Recommendation

Potential value-add BTL or resale opportunity, but only proceed after confirming condition, service charge, lease terms and all auction costs. Do not set a final bid without a verified works budget and conservative resale/rental appraisal.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and advertised rental evidence, but bedroom/specification details of comparables, condition, service charge, auction fees, works costs, heating information and selling costs are missing.