147 Elm Grove, Southsea, Hampshire

Description

Investment – unbroken freehold block of flats arranged to provide fourteen self-contained flats. Comprising 1 x one-bedroom flat and 13 x two-bedroom flats. GIA approximately 718.12 sq m (7,730 sq ft). Flats 5, 8, 9 and 12 each benefit from private outdoor space.

Accommodation

Fourteen self-contained flats: 1 x one-bedroom flat and 13 x two-bedroom flats. Flats 5, 8, 9 and 12 each have private outdoor space.

Location

The property is situated on the north side of Elm Grove. A wide range of shops and amenities can be found in nearby Southsea. Waitrose & Partners supermarket is approximately 0.5 miles towards the south. Portsmouth & Southsea rail station is approximately 0.9 miles to the north west. The M27 motorway is towards the north. Southsea Beach is towards the south.

Tenure / Property Information

Investment Analysis

The guide is £1.5m+, but no completed sales, formal valuation, rental evidence or auctioneer rent estimate has been supplied. A supported GDV, investment value or maximum bid cannot therefore be established. The asset comprises 14 self-contained flats with approximately 7,730 sq ft GIA and nine parking spaces, but the evidence does not confirm condition, income, tenure arrangements for individual flats or occupancy status beyond the stated description.

Investment Snapshot

Strategy Recommendation

Do not set a bid or pursue a defined strategy until valuation, rental, condition, occupancy, compliance and fee due diligence is completed. Any offer should remain subject to an independently supported valuation and full cost schedule.

Works Required

No specific defects or required works are evidenced. Commission a full building survey, verify statutory compliance and services, and budget only after inspection and review of the individual flats and common parts.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable without verified rents, condition costs, acquisition fees, finance assumptions and an evidence-based GDV. The freehold block format may support a single-asset refinance, but this cannot be quantified from the supplied evidence.

Buy-to-Let Analysis

BTL performance cannot be quantified because no sufficiently specific rental comparables or auctioneer rent estimate has been supplied. Confirm achievable rents for the one-bedroom and thirteen two-bedroom flats, occupancy, operating costs and any existing tenancies before bidding.

Flip Analysis

A flip or sale of the block cannot be underwritten because there are no completed sales, supported GDV, refurbishment costs or selling-cost allowance. The nine parking spaces serve a fourteen-flat block, but no market impact can be assessed from the evidence provided.

Investor Risks & Due Diligence

• No completed sales or other market valuation evidence has been supplied.

• No sufficiently specific rental evidence or passing-income information has been supplied.

• Condition, required refurbishment and statutory compliance are unknown.

• Buyer premium, admin charge and other third-party costs are unspecified.

• The stated occupancy information is unclear: the property is described as vacant while also stating that two flats are vacant.

• Nine parking spaces are identified for fourteen flats, but no evidence quantifies the effect on value or letting demand.

• The guide is £1.5m+ and may not represent the eventual purchase price.

Recommendation

Do not set a bid or pursue a defined strategy until valuation, rental, condition, occupancy, compliance and fee due diligence is completed. Any offer should remain subject to an independently supported valuation and full cost schedule.

Strategy Rating

Analysis Confidence

The evidence confirms the broad asset description, accommodation, approximate size, freehold tenure and guide price, but provides no rental evidence, comparable sales, condition information, EPC, council tax, buyer fees, admin charges or supported valuation.