182 / 182A Hamlet Court Road, Westcliff-on-Sea, Essex

Description

This Freehold property consists of a ground floor lock-up shop with a two bedroom self-contained flat (access from the rear of the building above). Currently let at a combined rent of £17,550 per annum and to be sold with the tenant in situ. Located in an established trading area close to Westcliff on Sea railway station.

Accommodation

Ground Floor: Lock-Up Shop of approx 64 sq. metres; further external storage unit to the rear. First Floor Flat, accessed from the rear of the building: Lounge: 16'6 max x 12'4 max; Kitchen: 10'9 max x 10'3 max; Bedroom One: 10'7 max x 10'3 max; Bedroom Two: 7'8 max x 7'5 max; Shower Room; Separate W/c.

Location

Located in an established trading area close to Westcliff on Sea railway station.

Tenure / Property Information

Investment Analysis

The £185,000 guide equates to an initial gross yield of approximately 9.49% on the stated combined rent of £17,550 per annum. Nearby completed sales range from £200,000 to £300,000 for 186 and 176 Hamlet Court Road, with older sales at £235,500, £240,000 and £365,000. These are not confirmed like-for-like mixed-use comparables, and no floor areas, condition or tenure details are supplied for them. A reliable GDV or maximum bid cannot therefore be established from the evidence alone.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led mixed-use investment, subject to satisfactory review of the tenancy, lease terms, rent split, condition and all auction fees. Do not rely on a resale or refinance strategy without stronger valuation and cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and verification of the shop, flat, external storage, services, statutory compliance and tenant repair responsibilities before bidding; no works allowance can be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because no reliable GDV, refurbishment budget, buyer fees or finance assumptions are supplied. The in-situ income may support an investment strategy, but refinance capacity and cash left in cannot be calculated without those inputs and verified tenancy documentation.

Buy-to-Let Analysis

The property is let with the tenant in situ at a stated combined rent of £17,550 per annum, producing approximately 9.49% gross yield against the £185,000 guide before fees, finance, maintenance, voids, tax and other costs. The tenant, lease terms, rent apportionment between shop and flat, deposit, repairing obligations and rent review provisions are not supplied. The £1,300 pcm two-bedroom rental listing is asking-rent evidence only and is not a confirmed achieved rent for the flat.

Flip Analysis

A flip assessment is not supported by the evidence. Although nearby completed sales range from £200,000 to £300,000 and above, they are not confirmed comparable mixed-use sales, while condition, costs, fees, resale allowance and GDV are unknown. Estimated flip surplus is therefore unavailable.

Investor Risks & Due Diligence

• The property is sold with the tenant in situ, but the tenancy and lease terms are not supplied.

• The combined rent does not show how income is apportioned between the commercial unit and flat.

• Buyer and other auction fees are unspecified, so total acquisition cost cannot be calculated.

• No condition, EPC, service-cost, compliance or repair information is supplied.

• Nearby sold comparables are not confirmed to be directly comparable mixed-use properties.

• The £1,300 pcm rental evidence is an advertised asking rent, not an achieved rent.

Recommendation

Consider only as an income-led mixed-use investment, subject to satisfactory review of the tenancy, lease terms, rent split, condition and all auction fees. Do not rely on a resale or refinance strategy without stronger valuation and cost evidence.

Strategy Rating

Analysis Confidence

The current combined rent, guide price, tenure, occupancy and property description are supplied, but buyer fees, lease details, condition, EPC, operating costs and reliable like-for-like valuation evidence are absent.