11A Hove Park Villas, Hove, East Sussex, BN3 6HP

Description

Leasehold maisonette near Hove Station comprising living room, kitchen, 4 bedrooms, bathroom, shower room and WC, set over the first and second floors. To the rear of the property is a private garden. A planning application was made for the conversion of the existing first and second floor flat to form 3 flats (C3). Planning permission was granted on 10 December 2024. Planning no. BH2024/01618. The roof space will need to be purchased and freeholder's consent obtained to proceed with the works for the planning permission.

Accommodation

Living Room - 5.8 x 5; Kitchen - 6.5 x 3.4; Bedroom 1 - 4.3 x 3.9; Bedroom 2 - 3.9 x 3.9; Bedroom 3 - 6 x 3.4; Bedroom 4 - 3.9 x 3.9; Bathroom; Shower Room; WC.

Location

Hove Park Villas is situated just north of Hove Station. Within walking distance of Hove Park and local amenities. Church Road, offering a range of shops and restaurants, is just under a mile away.

Tenure / Property Information

Investment Analysis

Indicative GDV range of £355,000–£525,000 based on supplied completed sales at Hove Park Villas. A £440,000 base estimate is used, but comparables are not sufficiently detailed to confirm size, condition or exact comparability.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming the lease and roof-space position, and obtaining conversion and freeholder costings. Do not underwrite the three-flat scheme on the supplied evidence alone.

Works Required

No refurbishment schedule or cost evidence is supplied. The approved conversion to three flats would require acquisition of the roof space, freeholder consent and potentially conversion works, but these cannot be costed from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative £440,000 base GDV, 75% refinance is £330,000, below the £350,000 guide before the 1% administration charge, works, finance, legal costs and other disbursements. The conversion cannot be relied upon without roof-space acquisition and freeholder consent.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rental income and gross yield cannot be established. The known administration charge at the £350,000 guide would be £3,500, excluding other possible costs.

Flip Analysis

A resale range of £355,000–£525,000 is indicated by supplied local completed sales. However, conversion, roof-space and selling costs are unsupported, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Approximately 78 years remain on the lease.

• Roof space must be purchased and freeholder consent obtained for the approved conversion.

• Conversion and refurbishment costs are unknown.

• No reliable rental evidence is supplied.

• Additional legal, search, seller-cost and transfer disbursements may be payable.

• The supplied comparable sales vary materially and lack detailed specification.

Recommendation

Proceed only after reviewing the legal pack, confirming the lease and roof-space position, and obtaining conversion and freeholder costings. Do not underwrite the three-flat scheme on the supplied evidence alone.

Strategy Rating

Analysis Confidence

Completed local sales are available, but comparable specifications, rental evidence, refurbishment costs, roof-space price, freeholder consent and additional purchase costs are absent.