23 & 25 Centrecourt Road, Worthing, BN14 7AQ

Description

A two storey semi-detached property, currently arranged as 2 x self contained freehold flats. Flat 23 is a first floor flat comprising living room, kitchen, 2 bedrooms and a bathroom. Flat 25 is a ground floor garden flat comprising living room, kitchen, 2 bedrooms, a lean-to and a bathroom. Externally the property benefits from private gardens and parking for a vehicle.

Accommodation

Flat 23 – First Floor Flat: Living Room 5.10 x 3.0m; Kitchen 3.10 x 2.70m; Bedroom (1) 3.0 x 3.0m; Bedroom (2) 3.0 x 2.40m; Bath/WC 1.90 x 1.80m; Total Floor Area 53 sq.m. Flat 25 – Ground Floor Flat: Living Room 4.10 x 3.0m; Kitchen 3.50 x 2.70m; Lean to 1.70 x 1.10m; Bedroom (1) 3.10 x 3.10m; Bedroom (2) 3.10 x 2.40m; Bath/WC 1.90 x 1.70m; Total Floor Area 74 sq.m.

Location

The property is situated in Worthing, with local shops and amenities close by. Worthing town centre with its range of shops, restaurants and mainline railway station are just over half a mile away. The property is also ideally situated for access to the A27 providing links along the south coast.

Tenure / Property Information

Investment Analysis

The £285,000 guide equates to £142,500 per flat. The only supplied sold comparables are the same-road sale in 2003 (£140,000) and 1997 (£49,950), so they do not support a current GDV. Current rent is £1,900 pcm in total, but the separate £1,900 pcm rental listing is advertised asking rent rather than achieved rent.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led BTL acquisition, subject to legal-pack, tenancy and condition checks; do not rely on BRRR or flipping without current valuation evidence.

Works Required

No works are evidenced. Confirm condition, legal compliance and any requirements affecting the two-flat arrangement through the legal pack and survey before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed because no current GDV, refurbishment budget or refinance valuation is supported. The 1% administration fee would be £2,850 at the guide, with possible additional disbursements.

Buy-to-Let Analysis

The stated rents total £1,900 pcm, or £22,800 annually, producing an 8.0% gross yield on the £285,000 guide before finance, tax, management, maintenance and other costs. Both occupancies are holding over, so current income and possession terms require verification. Net yield cannot be established from the evidence.

Flip Analysis

A flip surplus cannot be calculated because current GDV, refurbishment costs and selling costs are unsupported. The supplied comparables are materially historic and insufficient for a resale valuation.

Investor Risks & Due Diligence

• Both flats are occupied by tenants holding over, creating tenancy and possession uncertainty.

• The property is arranged as two self-contained flats; legal and regulatory status should be confirmed.

• Current valuation evidence is absent; the supplied comparables date from 1997 and 2003.

• The 1% administration fee applies at the guide, with possible additional disbursements.

• The rental listing is an advertised asking rent, not achieved rent.

Recommendation

Consider only as an income-led BTL acquisition, subject to legal-pack, tenancy and condition checks; do not rely on BRRR or flipping without current valuation evidence.

Strategy Rating

Analysis Confidence

Current rent and property details are supplied, but current comparable sales, GDV, condition, refurbishment costs, selling costs and full purchaser disbursements are unavailable.