20a, Montague Road, PORTSMOUTH, Hampshire, PO2 0NF

Description

Leasehold first floor flat. Unsafe to enter. It is assumed that a chemical spill has taken place at the property; details are unknown and the property has been deemed not safe to enter.

Accommodation

One bedroom, additional room, reception room, kitchen, bathroom/wc

Location

The property is located on Montague Road. Shopping amenities are available locally within Portsmouth City Centre lying to the south. Public transport links can be found at Hilsea Train Station to the north east and Fratton Train Station to the south, along with local bus services. Road links include the M275 and the A2047, both located to the east. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

Completed sales on Montague Road range from £72,500 to £159,500, but the properties' condition, size and lease terms are not supplied. The £102,000 sale at 14 Montague Road is used as a cautious base GDV indicator, with a very broad evidence-based range of £72,500–£159,500. This is not a formal valuation and may not reflect the subject flat's unknown contamination condition or shorter lease.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence. Proceed only after reviewing the legal pack and special conditions, obtaining specialist environmental advice, confirming access and contamination liabilities, and establishing the lease, ground rent and full works budget.

Works Required

Do not enter until specialist environmental and safety assessment is completed. Subject to the assessment, potential works may include professional decontamination, making the property safe, followed by inspection and any identified remedial works. No reliable refurbishment scope or cost can be established from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £102,000 base GDV, 75% refinancing equates to £76,500. However, refurbishment cost, environmental remediation, total acquisition costs, lease-extension implications and lender acceptability are unknown. BRRR cash requirements and returns therefore cannot be reliably calculated.

Buy-to-Let Analysis

A single £2,000 pcm advertised asking rent is supplied for a one-bedroom property on Oriel Road, not the subject flat, and is not an achieved rent. It cannot reliably support a subject rent or yield. BTL viability is further undermined by the unknown chemical-spill risk, unknown works cost, short lease and ground rent being TBC.

Flip Analysis

A flip assessment cannot be completed reliably because the property is unsafe to enter, the contamination details and works scope are unknown, and selling costs are not supplied. The £102,000 base GDV is only an indicative comparable-led figure; no dependable flip surplus can be calculated.

Investor Risks & Due Diligence

• The flat is explicitly unsafe to enter and an unknown chemical spill is assumed.

• Environmental contamination, remediation requirements and associated liabilities are unknown.

• The lease is variously stated as having 60 or 61 years remaining.

• Ground rent is TBC and lease terms may affect mortgageability and resale.

• The contract documentation fee is £1,800 inclusive of VAT, while additional seller fees may also apply.

• Parking and heating information are not confirmed.

• The supplied rental evidence is an advertised asking rent for a different road and cannot establish the subject property's achievable rent.

Recommendation

Do not bid on the current evidence. Proceed only after reviewing the legal pack and special conditions, obtaining specialist environmental advice, confirming access and contamination liabilities, and establishing the lease, ground rent and full works budget.

Strategy Rating

Analysis Confidence

There are several completed local sales, but no condition, size, lease detail or contamination evidence for the subject, no reliable comparable rent, no works budget, and potentially additional seller fees are unknown.