130 Shaftesbury Avenue, Southend-on-Sea, Essex

Description

This vacant Freehold building is currently arranged as two flats and requires refurbishment throughout. The property benefits from Off-Road Parking located to the front of the property and the rear garden has a southerly aspect. Southchurch Park is directly opposite and Southend Seafront is within close proximity.

Accommodation

Ground Floor: Lounge: 14'9 max x 12'1 max - access to: Bedroom: 11'4 max x 11'; Hallway - 2 x understairs cupboards; Separate W/c; Dining Room: 14'2 into bay x 10'8; Kitchen: 11'9 x 6'8 - access to: Bathroom: 7'5 x 3'8 - access to: Utility Room: 4'1 x 3'8. First Floor: Landing - access to loft space; Lounge / Diner: 17'8 max x 14'9 into bay; Kitchen: 8'8 x 7'7 red to 6'6; Bedroom One: 11'7 max x 11'5; Bedroom Two: 11'9 x 11'3 max red to 10'1 - staircase to rear; Bathroom / Wc: 5'9 x 5'8.

Location

Southchurch Park is directly opposite and Southend Seafront is within close proximity.

Tenure / Property Information

Investment Analysis

The five supplied same-street freehold terraced comparables range from £275,000 to £442,000, with the three more recent sales ranging from £320,000 to £442,000. Given the subject's vacant condition, stated refurbishment requirement and current two-flat arrangement, a cautious evidence-based GDV range is £320,000–£442,000, with £390,000 used as a midpoint estimate. This is not a formal valuation and the comparable dates and property differences create material uncertainty.

Investment Snapshot

Strategy Recommendation

Treat as a conditional refurbishment-and-resale opportunity only after a full survey, detailed refurbishment quotation and confirmation of the two-flat arrangement and compliance position. Do not bid on the supplied evidence alone.

Works Required

Refurbishment throughout, as expressly stated in the auction description. The two-flat layout should be assessed, with any required works to the kitchens, bathrooms, finishes, services and external areas identified through survey and compliance checks. No quantified works specification or cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At an indicative £390,000 base GDV, 75% refinancing would equate to £292,500. However, refurbishment costs, purchase fees and other auction charges are not supplied, so total cost, required equity and cash left in cannot be calculated. The strategy requires confirmation of the two-flat arrangement, refurbishment scope and refinance valuation.

Buy-to-Let Analysis

The supplied advertised asking rents for 3-bed properties are £1,400–£1,775 pcm, equivalent to £16,800–£21,300 annually. Against the £285,000 guide, this indicates approximately 5.9%–7.5% gross yield before refurbishment, finance, purchase fees, management, voids and maintenance. These are asking rents rather than achieved rents, and the subject's two-flat arrangement may not be directly comparable. Net yield cannot be established.

Flip Analysis

A resale case is suggested by supplied same-street sales up to £442,000, but no refurbishment allowance, buyer fees, selling costs or other project costs are provided. Consequently, the flip surplus and maximum bid cannot be calculated reliably. The wide comparable range and current two-flat configuration add valuation risk.

Investor Risks & Due Diligence

• The property requires refurbishment throughout, but no quantified scope or cost is supplied.

• The building is currently arranged as two flats, while the accommodation and rental evidence are presented around a 3-bed property; legal, planning and building-compliance status is not supplied.

• The rental evidence consists of advertised asking rents rather than achieved rents and may not directly reflect the subject's configuration.

• Auction fees are unspecified beyond the statement that the guide price is plus fees.

• The supplied same-street sales range widely from £275,000 to £442,000 and spans 2019–2022, creating valuation uncertainty.

• No EPC, survey, heating information, council-tax information or other technical due-diligence evidence is supplied.

Recommendation

Treat as a conditional refurbishment-and-resale opportunity only after a full survey, detailed refurbishment quotation and confirmation of the two-flat arrangement and compliance position. Do not bid on the supplied evidence alone.

Strategy Rating

Analysis Confidence

Same-street sold comparables and asking-rent evidence are available, but there is no EPC, survey, refurbishment budget, fee schedule, legal/compliance information for the two-flat arrangement or achieved-rent evidence.