14 Oakey Close, Coventry, West Midlands

Description

Comprising Reception Room, Kitchen, Bedroom, Shower Room. GIA approximately 41 sq m (438 sq ft). A new 999 year lease will be granted on completion. Well located for the amenities of Coventry. By Order of a Housing Association.

Accommodation

Reception Room, Kitchen, Bedroom, Shower Room. GIA approximately 41 sq m (438 sq ft).

Location

Various rail operators run services from Coventry rail station, approximately 4 miles to the south. The M6 and M1 Motorways are easily accessible. The property is situated on the south side of Oakey Close. Local shops and amenities are available in Longfield, with further and more extensive facilities of Coventry City centre accessible approximately 3.6 miles to the south. The open spaces of Longford Park are easily accessible to the south east.

Tenure / Property Information

Investment Analysis

The strongest evidence is two same-close, same-property-type leasehold sales in 2026 at £60,000 and £61,000. Older same-close sales were materially higher, but are less relevant to current value. A reasonable evidence-supported scenario range is £60,000–£61,000, with a base GDV of £60,500. Condition, lease terms beyond the stated new 999-year lease, service charge, ground rent and legal restrictions remain unverified.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming leasehold charges, condition and achievable rent. The guide-to-comparable gap is notable, but insufficient evidence exists to justify a firm BTL, BRRR or flip bid.

Works Required

No specific defects or required works are evidenced. Allowance cannot be estimated without inspection and the legal documents; verify condition, services, lease terms, service charge and ground rent before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £45,000 guide, 75% of the £60,500 base GDV is approximately £45,375, leaving only £375 of nominal gross headroom before works, buyer costs, finance, tax and refinance costs. The strategy is therefore highly sensitive to any refurbishment, leasehold or transaction costs.

Buy-to-Let Analysis

BTL cannot be underwritten because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The guide is below the two recent same-close sales, but actual yield cannot be established without rent, service charge, ground rent, insurance and other costs.

Flip Analysis

The base GDV is £60,500 against the £45,000 guide, but refurbishment, buyer costs, selling costs and any finance costs are unsupported. A reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, so rental yield cannot be established.

• Condition and refurbishment costs are unknown.

• Service charge, ground rent, insurance and other leasehold costs are not supplied.

• Buyer, administration, seller or third-party fees may apply but are not quantified.

• The legal terms of the new 999-year lease require verification.

• 75% refinance of the base GDV provides only nominal headroom over the guide before all other costs.

Recommendation

Proceed only after reviewing the legal pack and confirming leasehold charges, condition and achievable rent. The guide-to-comparable gap is notable, but insufficient evidence exists to justify a firm BTL, BRRR or flip bid.

Strategy Rating

Analysis Confidence

There are two highly relevant recent completed sales on the same close and a stated guide price, but rental, condition, leasehold-cost, EPC, service-charge, ground-rent and fee evidence is missing.