211 Witham Wharf, Brayford Wharf East, Lincoln LN5 7DH

Description

A wonderful opportunity to acquire this well maintained apartment, in the heart of the City. The property boasts spacious and convenient accommodation throughout and will appeal to a range of landlords.

Accommodation

Entrance Hall; Open Plan Living/Dining Area; Kitchen; Bedroom 1; Shower Room; Storage

Location

The property is situated in the popular, and prominent Witham Wharf development, overlooking the Brayford Pool in the heart of the historic City of Lincoln. Lincoln offers a wealth of facilities, amenities and leisure opportunities, along with eateries, public houses, bars and restaurants. Lincoln is also home to the castle and Cathedral and is well positioned for access to surrounding towns and the University.

Tenure / Property Information

Investment Analysis

The supplied completed sales are within Witham Wharf and range from £105,000 to £138,000 between 2018 and 2023, with one substantially higher £310,000 sale that appears anomalous without size, floor, specification or date-context detail. The closest available evidence is £110,000 in 2022 and £105,000 in 2020. An indicative base GDV of £110,000 is therefore used, with a cautious evidence-based range of £105,000–£125,000. This is not a formal valuation because bedroom, floor area, floor level, service charge, ground rent and directly comparable specification are unavailable.

Investment Snapshot

Strategy Recommendation

Do not bid without reviewing the legal pack and confirming service charge, ground rent, lease conditions, disbursements and achievable rent. Any purchase should be priced with the £105,000–£125,000 indicative GDV range in mind and should not rely on the anomalous £310,000 sale.

Works Required

No specific refurbishment works are evidenced; the apartment is described as well maintained. Confirm condition, fixtures, appliances and any repair requirements through the legal pack and viewing. No refurbishment allowance is included because there is insufficient cost evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £110,000 base GDV, 75% refinance is approximately £82,500. A complete BRRR assessment cannot be calculated because purchase price, refurbishment costs, service charges, finance costs and other completion/disbursement costs are not sufficiently known. At the £99,000 top of guide, the known buyer premium and admin charge alone total £2,880 before any other costs.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The description indicates landlord appeal, but achievable rent, service charge, ground rent, management, maintenance and void costs are unknown. The broad £49,000–£99,000 guide also makes return highly price-sensitive.

Flip Analysis

The indicative base GDV is £110,000, based primarily on the £105,000 and £110,000 Witham Wharf sales, with £125,000 as an upper scenario. A flip surplus cannot be calculated reliably because the eventual purchase price, refurbishment requirement, selling costs and disbursements are not established. The £310,000 comparable is not relied upon due to insufficient specification evidence.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, so rental income and yield cannot be established.

• Service charge and ground rent information is not supplied for the leasehold apartment.

• Auction disbursements, seller costs, legal fees, search fees and transfer fees may be payable but are not quantified.

• The comparable sales vary materially, including an unexplained £310,000 transaction, reducing valuation confidence.

• The guide range is broad at £49,000–£99,000, making the investment case highly sensitive to the final purchase price.

• No detailed condition, floor area, floor level, parking or heating information is supplied.

Recommendation

Do not bid without reviewing the legal pack and confirming service charge, ground rent, lease conditions, disbursements and achievable rent. Any purchase should be priced with the £105,000–£125,000 indicative GDV range in mind and should not rely on the anomalous £310,000 sale.

Strategy Rating

Analysis Confidence

There are several same-development completed sales and a stated 999-year lease, but no floor area, directly matched bedroom comparables, rental evidence, service-charge information, refurbishment budget or full legal-pack costs.