15 Newtown Buildings, Newtown Road, Bedworth, Warwickshire, CV12 8QA

Description

Long leasehold second floor self-contained flat requiring modernisation. Full vacant possession.

Accommodation

Second floor: one bedroom, reception room with balcony, kitchen, bathroom/WC and hall.

Location

Situated on the corner of Newtown Road and Park Road. Public transport links include Bedworth Railway Station and local bus services. Road links include the A444 and M6 Motorway. Shopping amenities are available in Bedworth Town Centre, with further shops, bars and restaurants in Nuneaton Town Centre and Coventry City Centre. Recreational facilities include Miners’ Welfare Park and Bedworth Almshouses Park.

Tenure / Property Information

Investment Analysis

The supplied evidence includes two same-building leasehold flat sales: £85,000 in February 2023 and £68,000 in February 2017. The £85,000 transaction is the strongest available indication, although the subject requires modernisation and no floor area, specification, parking position or detailed condition evidence is supplied. A base GDV of £85,000 is therefore used, with £68,000 as a lower evidence-based scenario. No higher completed sale is supplied, so a high GDV is not supported. Lease costs, service charge, ground rent, heating, parking and EPC details remain unknown.

Investment Snapshot

Strategy Recommendation

Proceed only as a tightly inspected refurbishment opportunity after obtaining the special conditions, lease-cost information, a refurbishment quotation and rental evidence. Do not rely on the headline GDV or bid above a separately costed limit.

Works Required

Modernisation of the flat, subject to inspection: update the kitchen, bathroom/WC, finishes and other dated internal elements identified by a survey. No specific defects or costed scope are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £20,000 guide, the known purchase price plus the £1,800 administration charge is £21,800 before refurbishment and any seller charges. A 75% refinance against the base £85,000 GDV would be £63,750, but cash left in cannot be calculated without a supported refurbishment budget and complete acquisition costs. Lease and property-cost checks are essential.

Buy-to-Let Analysis

BTL cannot be properly assessed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charge, ground rent and other lease costs are also unknown. The £1,800 buyer administration charge would need to be included in any final appraisal.

Flip Analysis

The supplied same-building evidence indicates a potential resale benchmark of £85,000, but the project cannot be costed because no refurbishment allowance, selling costs or additional completion charges are supplied. A reliable flip surplus and maximum bid therefore cannot be established.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not evidenced.

• No sufficiently specific rental evidence is available.

• Annual service charge, ground rent and review details are unknown.

• The seller may charge additional completion fees under the special conditions.

• Parking, heating and EPC details are unconfirmed.

• The subject's condition and specification may differ from the supplied same-building sales.

• Leasehold obligations and remaining lease details should be verified despite the stated approximately 96 years remaining.

Recommendation

Proceed only as a tightly inspected refurbishment opportunity after obtaining the special conditions, lease-cost information, a refurbishment quotation and rental evidence. Do not rely on the headline GDV or bid above a separately costed limit.

Strategy Rating

Analysis Confidence

There are relevant same-building completed sales and a clear guide price, but rent, refurbishment costs, service charges, ground rent, seller fees, floor area, EPC and several property details are unavailable.