18 Vernons Mews, Black-A-Tree Road, Nuneaton, Warwickshire

Description

Well presented 2 bedroom, first floor apartment with open plan living, within a secured gated development with private residents parking. Leasehold with 176 years remaining. Potential to achieve circa 13% yield once fully let. Ideal investment opportunity.

Accommodation

FIRST FLOOR: Hallway; Store cupboard; Bathroom; Bedroom 1: 12 ft 9 in x 11 ft 1 in; Bedroom 2: 9 ft 2 in x 8 ft 4 in; Lounge/kitchen: 24 ft 5 in x 14 ft 2 in max. OUTSIDE: Rear: Car park.

Location

Situated within a secured gated development in Nuneaton, Warwickshire.

Tenure / Property Information

Investment Analysis

Recent same-development sales were £119,000 and £125,000 in 2025. A base GDV of £122,000 is supported, with a £119,000–£125,000 evidence range. The £65,000 lower guide represents a substantial discount, subject to legal-pack and condition checks.

Investment Snapshot

Strategy Recommendation

BTL or BRRR appears strongest at the lower guide, subject to confirming the rent, service-charge position, legal pack and achievable purchase price. Avoid relying on the auctioneer’s circa 13% claim without verification.

Works Required

No refurbishment works are identified from the evidence. Allow for inspection, cleaning and letting preparation only; no cost allowance is evidenced for these items.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £65,000 lower guide and no evidenced refurbishment allowance, total known cost is £67,640. At a £122,000 base GDV, 75% refinance is £91,500, indicating approximately £23,860 released before finance, tax and other costs, subject to lender valuation and underwriting.

Buy-to-Let Analysis

At the £65,000 lower guide, the advertised £795 pcm rent produces approximately 14.68% gross yield before costs. Including the stated £2,640 buyer premium and admin charge, gross yield is approximately 14.10%. The rent is an asking figure, not achieved rent, and the £1,200 annual service charge reduces net return.

Flip Analysis

The base GDV of £122,000 indicates a large gross margin against the £67,640 base cost. However, no supported selling allowance, finance cost, tax or additional legal-pack costs is provided, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• £795 pcm is an advertised asking rent rather than achieved rent.

• The £1,200 annual service charge reduces net yield.

• Additional legal-pack costs, seller costs, search fees and transfer fees may apply.

• Actual sale value may differ from the recent £119,000–£125,000 comparable range.

• Electric heating costs and condition beyond the description are not evidenced.

Recommendation

BTL or BRRR appears strongest at the lower guide, subject to confirming the rent, service-charge position, legal pack and achievable purchase price. Avoid relying on the auctioneer’s circa 13% claim without verification.

Strategy Rating

Analysis Confidence

Recent same-development completed sales, one rental asking figure, lease details and known auction charges are available; achieved rent, full legal-pack costs and detailed condition information are not.