21 Cunworth Court, Bracknell, Berkshire, RG12 8SR

Description

Long leasehold two bedroom ground floor purpose built self-contained flat requiring modernisation. By order of a Major Housing Association.

Accommodation

Ground floor: Two bedrooms, reception room, kitchen, bathroom, separate WC, hallway. Gross Internal Area: approximately 71 sq m (767 sq ft).

Location

The property is situated within Cunworth Court, located off Great Hollands Road. Public transport links include Bracknell Mainline Railway Station and local bus services. Road links include the A329(M) and the M4 Motorway. Shopping amenities are available locally within Great Hollands Neighbourhood Centre, with further shops, bars and restaurants in Bracknell Town Centre and The Lexicon Shopping Centre. Recreational pursuits can be found at South Hill Park, Great Hollands Recreation Ground and Swinley Forest.

Tenure / Property Information

Investment Analysis

Sold evidence within Cunworth Court ranges from £185,000 to £218,000: £185,000 in 2023, £218,000 in 2024 and £195,000 in 2025. The £195,000 2025 sale is used as the base GDV, with £185,000 and £218,000 as evidence-supported low and high scenarios. Comparability is limited because the sold properties' condition, size and lease terms are not supplied, while this flat requires modernisation and has unknown service charge and ground rent details.

Investment Snapshot

Strategy Recommendation

Proceed only subject to reviewing the legal pack, confirming lease charges and seller fees, and obtaining a building/services inspection and refurbishment quotation. The apparent discount to same-block sales is potentially attractive, but the evidence is insufficient to set a reliable maximum bid or confirm an investment strategy.

Works Required

Modernisation of the two-bedroom flat is indicated by the auction description. The disconnected services and heating system require inspection and testing before costs can be specified. No particular repair or finish items are assumed beyond the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The base GDV supports an indicative 75% refinance figure of £146,250. A BRRR assessment cannot establish cash left in because refurbishment costs, lease charges, finance costs and any additional completion fees are unknown. Rental coverage and refinance viability also cannot be tested without rent evidence.

Buy-to-Let Analysis

BTL analysis cannot establish rent or yield because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The £120,000 guide plus the known £1,800 buyer contract documentation fee excludes refurbishment, finance, service charge, ground rent and any applicable seller fees.

Flip Analysis

The same-block sold evidence supports a base GDV of £195,000, with an evidence range of £185,000 to £218,000. A flip surplus cannot be calculated because no refurbishment allowance or supported selling-cost allowance is available. The guide is £120,000, but the project cost remains unquantified.

Investor Risks & Due Diligence

• All services are disconnected and no warranty or guarantee is provided for the heating system or other services.

• The flat requires modernisation, but no refurbishment cost evidence is supplied.

• Annual service charge, ground rent and review details are unknown and must be confirmed.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• Communal parking is unallocated and there is no garden.

• The sold comparables' condition, accommodation details and lease financial terms are not supplied.

Recommendation

Proceed only subject to reviewing the legal pack, confirming lease charges and seller fees, and obtaining a building/services inspection and refurbishment quotation. The apparent discount to same-block sales is potentially attractive, but the evidence is insufficient to set a reliable maximum bid or confirm an investment strategy.

Strategy Rating

Analysis Confidence

Same-block completed-sale evidence supports a market-value range, but condition-adjusted comparability, refurbishment costs, rent, lease charges, service information and potential seller fees are unavailable.