18B Bridge Street, Evesham, Worcestershire, WR11 4RR

Description

A well-positioned two-bedroom first-floor apartment situated in the heart of Evesham town centre, directly on the High Street. Currently producing £7,800 PA, the property offers an attractive opportunity for investors looking to acquire an existing income-producing asset.

Accommodation

Kitchen/Dining Room 24'3" x 12'6"; Living Room 14'6" x 13'0"; Bedroom One 17'6" x 9'7"; Bedroom Two 11'6" x 9'11"; Bathroom 7'9" x 7'2". Communal entrance.

Location

Situated in the heart of the historic market town of Evesham, directly on the High Street, with access to shops, supermarkets, cafés, restaurants, pubs and public transport. Market Square, River Avon and Abbey Park are within easy walking distance. Evesham railway station is approximately a 10-minute walk from the town centre. The town has road connections via the A46 and nearby M5.

Tenure / Property Information

Investment Analysis

The evidence includes a £72,000 completed sale at the same address in April 2023 and older sales of £77,000 and £80,000 in 2003. The £80,000 guide is above the latest supplied comparable. A cautious evidence-based GDV range is £72,000–£80,000, with a £76,000 base estimate; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led BTL if the existing £7,800 annual rent is verified and the legal pack confirms acceptable lease and tenancy terms. The guide appears high against the latest supplied comparable, making BRRR or flipping unattractive on the available evidence.

Works Required

No refurbishment works are evidenced in the supplied information, so no works allowance has been included. Obtain and review the legal pack, lease, title and property condition before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £76,000 base GDV, 75% refinance is estimated at £57,000. Against the £83,840 purchase-and-known-cost base total, approximately £26,840 would remain invested before finance, tax and any further costs. The base GDV is below the guide price, so the evidence does not support an attractive BRRR outcome at the guide.

Buy-to-Let Analysis

At the £80,000 guide, the stated £7,800 annual income produces a 9.75% gross yield before the £200 annual ground rent, management, maintenance, finance, tax and other costs. The £750 pcm rental listing implies an 11.25% gross yield, but it is an advertised asking rent rather than achieved rent. Including the £1,800 buyer premium and £2,040 admin charge, the gross yield on known acquisition cost is approximately 9.30% using the stated income. Service charge is stated as £0.

Flip Analysis

At the £76,000 base GDV, the project shows an estimated £7,840 shortfall against the £83,840 purchase-and-known-cost total before selling costs, finance, tax and refurbishment. No refurbishment or selling allowance is evidenced, so a formal flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The £80,000 guide exceeds the latest supplied same-address completed sale of £72,000.

• The stated £7,800 annual income is not independently evidenced as passing rent or supported by tenancy details.

• The £750 pcm rental figure is an advertised asking rent and may not be achievable.

• Buyer premium and admin charge total £3,840, with further legal-pack disbursements potentially payable.

• The £200 annual ground rent reduces net income.

• No EPC, council tax, heating, parking, condition or service-charge documentation is supplied.

• Lease, title, tenancy and any additional seller-cost obligations require legal-pack review.

Recommendation

Consider only as an income-led BTL if the existing £7,800 annual rent is verified and the legal pack confirms acceptable lease and tenancy terms. The guide appears high against the latest supplied comparable, making BRRR or flipping unattractive on the available evidence.

Strategy Rating

Analysis Confidence

The analysis has a same-address completed sale, stated current income, lease terms and known auction charges, but lacks EPC, council tax, condition, tenancy details, legal-pack disbursements and current achieved rental evidence.