22 Godfreys Mews, Chelmsford

Description

This one bedroom, ground floor retirement flat has access to a patio and is located in the Old Moulsham area of Chelmsford. The building is a three storey block and offers a lift and concierge, as well as residents and visitors parking on a first come first serve basis. Within easy access of Chelmsford City Centre and local amenities.

Accommodation

Ground Floor: Communal entry, private apartment entry, hallway, lounge with French doors to patio area, kitchen, bedroom and bathroom. Outside: Communal gardens externally.

Location

Located in the Old Moulsham area of Chelmsford, within easy access of Chelmsford City Centre and local amenities.

Tenure / Property Information

Investment Analysis

Completed sales in the same development range from £150,000 to £210,000 between July and December 2025. A base GDV of £160,000 is used, broadly aligned with the £156,500 and £160,000 sales, but the evidence does not provide the comparable flats’ bedroom count, condition, floor, lease length or service charges. The £150,000–£210,000 range is therefore indicative only. The auction guide represents a substantial apparent discount, but leasehold liabilities, buyer fees and property condition remain unquantified.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, lease and retirement-use checks, confirmation of service charges and inspection. The evidence supports investigating a value-led resale or BRRR opportunity rather than relying on BTL, because rent evidence is absent.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection-led works only; confirm the flat’s condition, communal repair liabilities and any required compliance or cosmetic works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £50,000 guide, the apparent purchase-to-GDV spread is attractive against the same-development sales, with an indicative 75% refinance figure of £120,000 based on the £160,000 base GDV. However, total project cost cannot be calculated because works, buyer/admin charges, service charges, legal costs and other non-optional fees are unknown. The approximately 61-year remaining lease is a major refinance and resale consideration.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The annual ground rent is £294.88, while service charges and other leasehold costs are not stated. Retirement-flat eligibility or letting restrictions should also be confirmed from the legal pack.

Flip Analysis

A resale strategy could benefit from the gap between the £50,000 guide and same-development completed sales, but no reliable flip surplus can be calculated. Works, acquisition costs, selling costs, leasehold charges and the correct comparable specification are not supplied. The £150,000–£210,000 sales range should not be treated as a formal valuation.

Investor Risks & Due Diligence

• Approximately 61 years remain on the lease based on the stated 99-year term commencing 1 June 1988.

• Annual ground rent of £294.88 is payable and service-charge information is not supplied.

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

• Buyer premium, administration charges and other non-optional fees are not quantified.

• Comparable sale details do not state bedroom count, condition, floor, lease length or service charges.

• The property is described as a retirement flat, but eligibility and use restrictions are not evidenced.

• Property condition and refurbishment requirements are not stated.

Recommendation

Proceed only subject to legal-pack review, lease and retirement-use checks, confirmation of service charges and inspection. The evidence supports investigating a value-led resale or BRRR opportunity rather than relying on BTL, because rent evidence is absent.

Strategy Rating

Analysis Confidence

Same-development completed sales are available, but comparable specifications, property condition, rent, service charges, buyer fees, selling costs and lease restrictions are incomplete.