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

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

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

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

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

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

Analysis Confidence

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.