13 Limes Place, Latton, Swindon, Wiltshire

Description

Spacious 2 bedroom first floor flat in need of modernisation situated in the extremely popular village of Latton on the southern edge of the Cotswolds. The property would make an ideal investment or first time buy.

Accommodation

Entrance hall, living room, kitchen/dining room, 2 double bedrooms, bathroom and separate WC.

Location

Situated in the extremely popular village of Latton on the southern edge of the Cotswolds.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of the neighbouring/same-development flat at 12 Limes Place for £105,000 on 25 September 2025. Earlier sales at the same address range from £86,000 to £115,000, but are less current. A base GDV of £105,000 is supportable, subject to the flat's modernisation requirement, lease terms and condition being confirmed in the legal pack. No buyer premium, administration fee, service charge, ground rent or other purchase costs were supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack, lease and condition due diligence. The property may suit a BTL or first-time-buyer strategy at or below guide, but the unknown modernisation cost and limited rental evidence make a firm bid or flip case unsupported.

Works Required

Modernisation is required, but the evidence does not specify the condition, scope or cost. Obtain a full inspection and legal-pack review before budgeting for works. The stated accommodation supports review of the kitchen, bathroom, WC, decoration and floor finishes only; no specific defects should be assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £80,000 guide, 75% of the £105,000 base GDV is £78,750. This indicates limited refinance headroom before allowing for modernisation, acquisition costs and finance costs. The strategy cannot be fully underwritten until the works budget, lease obligations, service charge, ground rent and lender valuation are confirmed.

Buy-to-Let Analysis

Using the only supplied rental evidence, £450 pcm produces annual rent of £5,400 and a 6.75% gross yield against the £80,000 guide. However, the evidence is an asking rent for a 2-bedroom flat in Prospect Place, SN1, rather than achieved rent for this Latton property. Net yield cannot be established because refurbishment costs, service charge, ground rent, insurance, voids, management and finance costs are unavailable.

Flip Analysis

The £105,000 base GDV is supported by the September 2025 sale at 12 Limes Place. A flip surplus cannot be calculated because the modernisation cost, purchase costs, finance costs and selling allowance are not supplied. The £25,000 difference between guide and base GDV should not be treated as profit.

Investor Risks & Due Diligence

• Modernisation scope and cost are unknown.

• The £450 pcm figure is an advertised asking rent for a different Swindon location, not achieved rent for Latton.

• The new 999-year lease is subject to further legal-pack details.

• Ground rent, service charge, insurance and other lease obligations were not supplied.

• Communal parking is first come first served rather than allocated.

• Electric heating may affect running costs, but no EPC or energy-cost evidence was supplied.

• No buyer premium, administration charge or other auction costs were provided.

Recommendation

Proceed only subject to legal-pack, lease and condition due diligence. The property may suit a BTL or first-time-buyer strategy at or below guide, but the unknown modernisation cost and limited rental evidence make a firm bid or flip case unsupported.

Strategy Rating

Analysis Confidence

A recent same-development completed sale supports the base GDV and the guide allows a gross-yield calculation, but refurbishment costs, lease charges, EPC, legal details, achieved rent and selling/acquisition costs are missing.