121C Pall Mall, Leigh-on-Sea, Essex, SS9 1RF

Description

A vacant one bedroom apartment along Pall Mall, just moments from the heart of Leigh-on-Sea. Offering a lounge, kitchen area, bedroom and newly fitted shower room. The property has been refurbished and is ideal for first-time buyers or investors.

Accommodation

Communal entrance door; stairs to first floor; Lounge Area - 16'4 x 7'10; Kitchen Area - 10'9 x 4'11; Bedroom - 10'5 x 7'6; Shower Room - 8'6 x 4'9

Location

Located close to Leigh Broadway, just moments from the heart of Leigh-on-Sea.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £135,000 to £200,000, with £350,000 an apparent outlier. Given the subject is a refurbished one-bedroom flat but comparable sizes and specifications are unavailable, £165,000 is used as a cautious base GDV, with £135,000 low and £200,000 high scenarios.

Investment Snapshot

Strategy Recommendation

Potentially suitable as a buy-to-let at or below the guide, subject to lease, service-charge and rental due diligence. Avoid relying on BRRR or a flip without confirming valuation and selling costs.

Works Required

No refurbishment works are identified; the property is described as refurbished with a newly fitted shower room. Allowance excludes any unidentified maintenance or compliance costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £165,000 base GDV, 75% refinance is approximately £123,750, leaving an indicative £1,250 of the £125,000 purchase cost unrecovered before finance, tax and other costs. The strategy is highly sensitive to achievable valuation and refinance terms.

Buy-to-Let Analysis

At the £125,000 guide, supported advertised rents of £900–£1,012 pcm imply gross yields of 8.64%–9.72%; the auctioneer estimate of £950 pcm implies 9.12%. Ground rent and service charge total approximately £650 annually, before finance, tax, voids and other costs.

Flip Analysis

A £165,000 base GDV against £125,000 purchase cost and no identified refurbishment allowance indicates £40,000 gross headroom before selling costs, finance, tax and other costs. A formal flip surplus cannot be calculated because no selling-cost allowance is supplied.

Investor Risks & Due Diligence

• The lease has approximately 85 years remaining.

• Ground rent is approximately £250 per annum and service charge approximately £400 per annum.

• Rental evidence comprises advertised asking rents and an auctioneer estimate, not achieved or passing rent.

• Comparable sale sizes, specifications and condition are not provided, limiting GDV precision.

• Buyer, administration, finance, tax and selling costs are not supplied.

• Council tax, parking and heating details are unavailable.

Recommendation

Potentially suitable as a buy-to-let at or below the guide, subject to lease, service-charge and rental due diligence. Avoid relying on BRRR or a flip without confirming valuation and selling costs.

Strategy Rating

Analysis Confidence

The evidence includes local completed sales, rental listings, tenure, lease length and charges, but comparable property sizes, buyer fees, selling costs and achieved rent are unavailable.