18 Rushbrook Mill, Paper Mill Lane, Bramford, Ipswich, Suffolk

Description

One bedroom top floor apartment within a converted former Mill, located on the outskirts of Ipswich. Requiring full refurbishment throughout, a one bedroom apartment with open plan lounge/kitchen and bathroom. Located in Bramford Village, situated to the west of Ipswich. It provides access to the A14 with links to the A12.

Accommodation

One bedroom top floor apartment with open plan lounge/kitchen and bathroom.

Location

Bramford Village, to the west of Ipswich, with access to the A14 and links to the A12.

Tenure / Property Information

Investment Analysis

The supplied completed sales within Rushbrook Mill range from £55,000 to £123,000. The variation may reflect differences in condition, specification and unit characteristics, which are not supplied. A cautious indicative post-refurbishment GDV base case of £84,000 is based on the £84,000 sale of Flat 21, with a supported comparable range of £80,125 to £118,000 excluding the lower £55,000 sale, which may indicate poorer condition or other differences. This is not a formal valuation and the condition of the comparables is unknown.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, inspection and a firm refurbishment quotation. The opportunity may suit a refurbishment-led resale, but absent rental evidence and unknown leasehold/project costs make BTL and BRRR underwriting premature.

Works Required

Full refurbishment throughout, including refurbishment of the open-plan lounge/kitchen, bedroom and bathroom, subject to inspection and contractor pricing. No specific defects, services issues or structural works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the indicative £84,000 base GDV, a 75% refinance is £63,000. However, the required refurbishment budget, leasehold charges, disbursements and finance costs are unknown, so total project cost and cash left in cannot be calculated. The strategy requires confirmed works pricing and legal-pack review.

Buy-to-Let Analysis

BTL analysis cannot be completed reliably because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Refurbishment costs, service charge and ground rent are also unknown. The guide price is £40,000, before the £1,500 buyer premium, £1,200 administration charge and any legal-pack disbursements.

Flip Analysis

The supplied comparable evidence supports an indicative base GDV of £84,000, with a wider evidenced range of £80,125 to £118,000. A flip surplus cannot be calculated because refurbishment costs, selling costs and other project costs are not supplied. Known purchase-stage charges total £2,700 before other possible disbursements.

Investor Risks & Due Diligence

• Full refurbishment is stated as required, but no cost estimate or detailed condition report is supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Annual ground rent, service charge and review terms require legal-pack confirmation.

• Buyer premium and administration charge total £2,700, with additional legal-pack disbursements potentially payable.

• Comparable sold prices vary materially from £55,000 to £123,000 and the reasons for the variation are unknown.

• Leasehold title has 104 years remaining, but other lease terms and charges are not supplied.

Recommendation

Proceed only subject to legal-pack review, inspection and a firm refurbishment quotation. The opportunity may suit a refurbishment-led resale, but absent rental evidence and unknown leasehold/project costs make BTL and BRRR underwriting premature.

Strategy Rating

Analysis Confidence

There are several relevant completed sales in the same development, but condition-adjusted comparability, refurbishment costs, rent, leasehold charges, disbursements and selling costs are not supplied.