139 La Salle (8FF), Chadwick Street, Leeds, West Yorkshire, LS10 1NH

Description

Leasehold eighth floor flat

Accommodation

Principal bedroom with en-suite, one further bedroom, reception room open plan to kitchen, bathroom/wc

Location

The property is located on Chadwick Street. A comprehensive range of shops, bars and restaurants can be found within Leeds City Centre lying to the north west. Public transport links can be found at Leeds Station and at Cross Gates Rail Station located to the east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A61 and the M621 both lying to the south. Recreational pursuits can be found at East End Park lying to the east.

Tenure / Property Information

Investment Analysis

Same-development sold evidence ranges from £65,000 to £135,000, with other sales at £72,000, £76,000 and £86,500. The £135,000 sale is materially above the other evidence and no size, floor, condition or specification details are supplied to explain the variation. A cautious base GDV of £86,500 uses the closest lower comparable, while £65,000–£135,000 represents the observed evidence range. The £91,000 guide is above four of the five supplied sales. Service charge, ground rent and seller fees remain unknown.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the lease, service charge, ground rent, seller fees, condition and rental demand. On the supplied evidence, the guide appears aggressive versus most comparable sales; a cautious BTL assessment is preferable to an assumed flip.

Works Required

No specific repair or refurbishment works are evidenced. Obtain a viewing, lease and management-pack review before budgeting for works; ground rent, service charge and any remedial liabilities are currently unknown.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a 75% refinance of the base GDV, indicative gross borrowing would be £64,875. Total project cost cannot be established because works, seller fees, ground rent and service charge are unknown. The guide also exceeds most supplied same-development sales, so refinance risk is material.

Buy-to-Let Analysis

The advertised asking rent of £1,200 pcm equates to £14,400 annually and a gross yield of approximately 15.8% against the £91,000 guide, before service charge, ground rent, voids, management, maintenance, finance and taxes. The rent is only an asking figure, and the unknown service charge and ground rent prevent a reliable net-yield assessment.

Flip Analysis

A flip case cannot be reliably quantified. The base GDV is £86,500 against a £91,000 guide before the £1,800 buyer administration charge, works and selling costs. The observed comparable range is wide and no supported works or selling allowance is available.

Investor Risks & Due Diligence

• Guide price of £91,000 exceeds four of the five supplied same-development sales.

• Wide comparable range of £65,000 to £135,000 creates material valuation uncertainty.

• £1,800 buyer administration charge applies, with possible additional seller fees.

• Ground rent, service charge and review or increase terms are unknown.

• The £1,200 pcm figure is an advertised asking rent, not achieved rent.

• Leasehold terms and management liabilities require confirmation despite the stated 125 years remaining.

• No condition or refurbishment information is supplied.

Recommendation

Proceed only after confirming the lease, service charge, ground rent, seller fees, condition and rental demand. On the supplied evidence, the guide appears aggressive versus most comparable sales; a cautious BTL assessment is preferable to an assumed flip.

Strategy Rating

Analysis Confidence

There are five same-development sold comparables and one advertised rent, but the comparable values vary substantially and key lease, service-charge, ground-rent, condition and fee information is missing.