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2 Franklyn Court, Edinburgh Place, Cheltenham, Gloucestershire, GL51 7SF

Marketed by:

Auction House London

Auction House London

1a, 5 Hampstead Gate, London NW3 6AL, UK

020 7625 9007

For Sale

Vacant Two-Bedroom Leasehold Flat

2 Franklyn Court, Edinburgh Place, Cheltenham, Gloucestershire, GL51 7SF

For Sale

£15,000+

• 2 Bedrooms


• Flat


• Leasehold


• Vacant


• Allocated parking


• Current Rating E

Description


A Vacant Second Floor Two Bedroom Flat. The property comprises a second floor two bedroom flat situated within a parade arranged over ground and two upper floors.


Accommodation


Second Floor: Reception Room with Open-Plan Kitchen; Two Bedrooms; Bathroom.


Location


The property is situated on a residential road close to local shops and amenities. The open spaces of King George V Playing Field are within easy reach. Transport links are provided by Cheltenham Spa rail station.


Tenure / Property Information


Tenure

Leasehold

Lease

The property is held on a 125 year lease from 19th June 2015, with approximately 113 years unexpired.

Occupancy

Vacant

EPC

Current Rating E

Parking

Allocated parking

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.


Investment Analysis


Completed sales at the same development range from £75,650 to £90,000 between 2020 and 2022. A base GDV of £80,000 is supported by the £80,000 comparable, but the evidence does not identify exact flat condition or current market movement.


Investment Snapshot


Guide Price

£15,000+ (plus fees)

HB Estimated GDV

£80,000


Strategy Recommendation


Do not bid on the current evidence alone. Obtain the legal pack, condition information, lease/service-charge details, rental evidence and all buyer costs before considering a capped purchase.


Works Required


No specific defects or works are evidenced. Investigate the EPC E rating, leasehold/legal matters and condition before bidding; no refurbishment allowance can be supported.


Rental & Market Context


No sufficiently specific external rental comparable identified.


Sold Comparables


The following completed sales were identified within approximately 5 miles:


Franklyn Court, Edinburgh Place, Cheltenham, Cheltenham, Gl51 7sf
2022-10-11 · Flat/Maisonette · Leasehold

£75,650

Franklyn Court, Edinburgh Place, Cheltenham, Cheltenham, Gl51 7sf
2020-04-27 · Flat/Maisonette · Leasehold

£90,000

Franklyn Court, Edinburgh Place, Cheltenham, Cheltenham, Gl51 7sf
2018-04-20 · Flat/Maisonette · Leasehold

£80,500

Franklyn Court, Edinburgh Place, Cheltenham, Cheltenham, Gl51 7sf
2016-12-09 · Flat/Maisonette · Leasehold

£80,000

Franklyn Court, Edinburgh Place, Cheltenham, Cheltenham, Gl51 7sf
2016-01-08 · Flat/Maisonette · Leasehold

£80,000


Potential BRRR Position


Base Project Cost

£16,800

Base GDV

£80,000

75% Refinance

£60,000

Indicative Cash Left In

£-43,200

Equity Before Finance / Tax

£63,200


At the £80,000 base GDV, 75% refinancing equates to £60,000. Against the known £16,800 guide-plus-administration cost, indicative cash left in is negative £43,200, but this is before any unsupported works and other purchase costs. Actual refinance eligibility is unconfirmed.


Buy-to-Let Analysis


BTL yield cannot be established because no sufficiently specific rental evidence or passing rent is supplied. The £16,800 base total cost comprises the £15,000 guide plus the £1,800 administration fee only; legal, search, transfer, finance and refurbishment costs are excluded.


Flip Analysis


The same-development sales support an £80,000 base GDV, but condition, selling costs, finance costs, legal costs and refurbishment costs are unavailable. A reliable flip surplus and maximum bid cannot therefore be calculated.


Investor Risks & Due Diligence


• No sufficiently specific rental evidence, so BTL yield is unquantified.


• EPC rating E may require investigation, but upgrade cost is unknown.


• Special Conditions may impose search, seller, legal or transfer costs not quantified here.


• Flat condition and refurbishment requirements are not evidenced.


• Leasehold service-charge and other lease obligations are not supplied.


• Comparable sales are historic and do not identify the exact unit or its condition.


Recommendation


Do not bid on the current evidence alone. Obtain the legal pack, condition information, lease/service-charge details, rental evidence and all buyer costs before considering a capped purchase.


Strategy Rating


HB Rating

★★☆☆☆


Analysis Confidence


Confidence

Low-Medium


There are several same-development completed sales and clear tenure/occupancy details, but no condition, rent, service-charge, legal-cost or full project-cost evidence.


Auction Details : 

Auction House London

Auction Date : 

11/11/26

Lot Number : 

044A

Tradelend Limited
Tradelend Limited

Bridging Finance, Development Finance

0203 886 2530

Tiger Financial
Tiger Financial

Bridging Finance, Development Finance

020 7965 7261

Tuscan Capital
Tuscan Capital

Bridging Finance

020 7846 9030

UK Bridging Loans Ltd
UK Bridging Loans Ltd

Bridging Finance

0116 366 6338

Ultimate Finance
Ultimate Finance

Bridging Finance

0800 121 7757

Property Location:

2 Franklyn Court, Edinburgh Place, Cheltenham, Gloucestershire, GL51 7SF

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