23 Compton Flats, Sunningdale Road, Yeovil, Somerset

Description

A one bedroom first floor flat. The property benefits from a balcony. A new 990 year lease on completion. In need of modernisation.

Accommodation

First Floor - Kitchen, Bathroom, Reception Room, Bedroom, Balcony

Location

The property is situated on Sunningdale Road in a residential area of Yeovil, Somerset, with a range of local shops and everyday amenities nearby. Yeovil town centre is easily accessible, offering a wider selection of supermarkets, independent retailers, cafés, restaurants and leisure facilities. The surrounding area benefits from nearby schools, healthcare services and green spaces, providing convenient amenities for residents. Local bus services and road links connect the property to the town centre and surrounding areas, while Yeovil Pen Mill railway station provides rail connections to neighbouring towns and cities. Transport: Yeovil Pen Mill - GWR, South Western Railway; Yeovil Junction - South Western Railway.

Tenure / Property Information

Investment Analysis

The strongest available evidence is a £103,750 completed sale at Compton Flats in January 2022, with another Compton Flats sale at £83,000 in March 2016. Further local development evidence includes £70,000 for Flat 24 in 2011 and £89,500 for Flat 16 in 2006. These sales support a broad historical value range of £89,500–£103,750, but the comparables are not confirmed as identical to Flat 23 and there is no current valuation evidence. The £45,000 guide implies a substantial apparent discount before refurbishment, buyer premium, VAT and other costs.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase for resale or refinance, but proceed only after a full inspection, lease and service-charge review, and confirmation of all auction costs. Do not bid solely on the apparent guide-price discount.

Works Required

Modernisation is required, but no detailed schedule or condition report is supplied. Allow for inspection-led refurbishment of the kitchen, bathroom, finishes and decoration, subject to confirming the condition of the heating system and all other elements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

The guide is materially below the strongest supplied comparable, creating potential BRRR value if the flat can be modernised economically. However, the unknown works budget, unknown buyer premium and other charges, absence of rent evidence, and unconfirmed lease/service-charge details prevent a reliable cash-left-in or refinance assessment.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Refurbishment costs, buyer premium and other acquisition costs are also unknown, so rental yield and maximum bid cannot be calculated.

Flip Analysis

A resale around the £103,750 base evidence point is possible but not a formal valuation. The project surplus cannot be calculated because refurbishment costs, buyer premium, VAT and selling costs are not supplied. The comparable evidence is historical and not confirmed as identical to Flat 23.

Investor Risks & Due Diligence

• The flat is stated to be in need of modernisation, but the scope and cost of works are unknown.

• The heating system is not warranted or guaranteed and its condition is unconfirmed.

• The buyer premium is charged but its amount is unspecified; VAT and other seller's charges may also apply.

• No rental evidence is available, preventing a supported BTL yield assessment.

• The comparable sales are historical and are not confirmed as identical to Flat 23.

• Lease-specific costs and terms beyond the proposed 990-year lease, including service charges, are not supplied.

Recommendation

Potential value-add purchase for resale or refinance, but proceed only after a full inspection, lease and service-charge review, and confirmation of all auction costs. Do not bid solely on the apparent guide-price discount.

Strategy Rating

Analysis Confidence

There is useful same-development completed-sale evidence and a stated guide price, but current market value, rent, refurbishment scope, buyer premium, selling costs and lease-related charges are incomplete or unavailable.