21 Charles Court Wheatfield Road, Colchester, Essex, CO3 0YS

Description

Spacious one bedroom apartment in need of refurbishment with parking. The accommodation comprises a bright, generous lounge, separate kitchen, well-proportioned double bedroom and bathroom, all offering scope for updating. Externally communal parking, plus unrestricted on-street parking also available.

Accommodation

Bright, generous lounge, separate kitchen, well-proportioned double bedroom and bathroom.

Location

Situated in the popular Stanway area of Colchester, Charles Court is conveniently located for Tollgate Retail Park, offering supermarkets, shops, restaurants, cafés and leisure facilities. Excellent transport links include easy access to the A12 and Marks Tey railway station, providing direct services to London Liverpool Street. Regular bus services connect the area with Colchester city centre and surrounding villages.

Tenure / Property Information

Investment Analysis

HM Land Registry evidence for Charles Court ranges from £125,000 to £180,000, including two sales in 2025. However, the evidence does not identify the bedroom count, size, condition or lease length of those comparables. This apartment has only 61 years unexpired and requires refurbishment, so a reliable GDV or bid ceiling cannot be established from the supplied evidence. The guide plus stated buyer premium and administration charge is £72,760 before refurbishment and other possible charges.

Investment Snapshot

Strategy Recommendation

Do not proceed on the supplied evidence alone. Obtain the legal pack, confirm lease and service-charge details, establish lease-extension implications, and secure independent refurbishment and rental assessments before bidding.

Works Required

Refurbishment and updating of the kitchen, bathroom and general internal finishes, as supported by the description. No detailed schedule or cost evidence has been supplied.

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 refurbishment costs, supported rent and a reliable post-refurbishment value are unavailable. The short remaining lease also creates refinance and exit uncertainty.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent and gross yield cannot be established. The 61-year lease is a material consideration for mortgageability, resale and future lease-extension costs.

Flip Analysis

The supplied sold evidence indicates a broad £125,000–£180,000 range within Charles Court, but the comparables are not sufficiently matched for size, bedroom count, condition or lease term. A reliable resale GDV and flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Only 61 years remain on the lease, which may affect financeability, resale and lease-extension cost.

• The property is described as requiring refurbishment, but no detailed scope or cost estimate is supplied.

• No sufficiently specific rental evidence is available, so BTL yield cannot be established.

• Sold comparables lack supplied information on bedroom count, size, condition and lease length.

• Buyer premium and administration charge are known, but other possible auction, legal and completion charges are not quantified.

Recommendation

Do not proceed on the supplied evidence alone. Obtain the legal pack, confirm lease and service-charge details, establish lease-extension implications, and secure independent refurbishment and rental assessments before bidding.

Strategy Rating

Analysis Confidence

There are several same-development completed sales and clear tenure/condition information, but no matched comparable specifications, refurbishment costs, rental evidence, service-charge information or reliable GDV basis.