14 Burrell Road, Ipswich, Suffolk IP2 8AB

Description

A first floor flat close to the railway station. Situated on the southern fringe of the town centre, this first floor flat requires modernisation. The property represents an excellent investment opportunity with strong rental demand in the area.

Accommodation

One bedroom accommodation with a living room, kitchen and bathroom.

Location

Close to the railway station, on the southern fringe of Ipswich town centre.

Tenure / Property Information

Investment Analysis

The available evidence is limited to five leasehold flat sales at 42 Burrell Road, rather than the subject property. The most recent sales were £90,000 in May 2025 and £215,000 in August 2022, with older sales ranging from £85,000 to £150,000. The large variation reduces confidence; the recent £90,000 sale is the most relevant indicator, with £85,000 used as a cautious low scenario. The guide range of £45,000–£55,000 is before the stated £2,400 buyer premium and admin charge. No detailed refurbishment schedule, rental evidence or formal valuation is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after inspection and legal-pack review confirm the lease, required modernisation, contribution obligations and total costs. Do not rely on the stated rental demand or pursue a BRRR/flip strategy without verified rent, works and resale assumptions.

Works Required

Modernisation is required according to the description, but no detailed schedule or condition report is supplied. Any works should be limited to items confirmed by inspection and the legal pack; the evidence does not support a quantified refurbishment allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £90,000 base GDV, 75% refinancing equates to £67,500. A meaningful BRRR assessment cannot be completed because refurbishment cost, rent, finance costs and total acquisition cost are unsupported. The 63-year lease is a material refinancing and resale consideration.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The flat is described as having strong rental demand, but this is not a quantified passing or achieved rent. Ground rent is £75 per annum, with no service charge stated, but the lease has only 63 years unexpired and may require lease-related consideration.

Flip Analysis

A resale assessment is indicative only. Using the £90,000 base GDV, the project cost cannot be calculated because the modernisation allowance and any selling costs are not supplied. The available comparable evidence is inconsistent and relates to another property, so a quantified flip surplus is not supported.

Investor Risks & Due Diligence

• Only 63 years remain on the lease, which may affect mortgageability, resale and lease-extension cost.

• The property requires modernisation, but the scope and cost are unknown.

• No sufficiently specific rental evidence or passing rent is provided, so yield cannot be established.

• Comparable sale prices vary substantially, including £150,000 and £215,000 historical outliers.

• The buyer premium and admin charge total £2,400, with additional possible disbursements and other legal or transfer charges.

• The lease requires a 50% contribution for any work required and payment of the annual insurance premium; the extent of any liability is unknown.

• The current EPC rating is E.

• Ground-rent review provisions require review of the legal pack.

Recommendation

Proceed only after inspection and legal-pack review confirm the lease, required modernisation, contribution obligations and total costs. Do not rely on the stated rental demand or pursue a BRRR/flip strategy without verified rent, works and resale assumptions.

Strategy Rating

Analysis Confidence

There are several local sold comparables and a recent £90,000 indicator, but they relate to another address, vary substantially, and there is no usable rent, works budget, condition report or complete legal-cost schedule.