239b Church Road, St George, Bristol

Description

A first-floor leasehold flat in a mixed-use corner property with a private rear entrance via Lypiatt Road. The 1,131 sq ft flat is currently arranged as five bedrooms, two bathrooms and a separate kitchen. An off-street parking space is adjacent to the entrance. Previously let as five beds, but the property is in an Article 4 area and requires an HMO licence to rent the full number of bedrooms. No HMO has been applied for or will be provided. The property is sold with vacant possession and has scope for residential or commercial use subject to the necessary consents.

Accommodation

Currently arranged as five bedrooms, two bathrooms and a separate kitchen; 1,131 sq ft; private entrance at the rear via Lypiatt Road.

Location

Situated on Church Road, with local amenities and services within walking distance. St George's Park is within a few hundred yards and Bristol City Centre is approximately two miles away.

Tenure / Property Information

Investment Analysis

The supplied leasehold flat comparables range from £230,000 to £293,500, although they relate to different dates and include varying property details. An indicative base GDV of £261,750 is used as the midpoint of that evidence range only; this is not a formal valuation. The five-bedroom arrangement cannot be assumed to support HMO value or rent because the property is in an Article 4 area and no HMO licence is provided.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming lawful residential use, HMO/planning requirements, lease and service-charge position, and inspecting condition. Do not underwrite the auctioneer's £30,000 rent without an HMO licence and compliant operation.

Works Required

No specific defects or required works are evidenced. Allowance cannot be quantified. Before bidding, verify condition, fire safety, services, lease terms, planning position, HMO licensing requirements and any consents for residential or commercial use.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the indicative base GDV, 75% refinance is approximately £196,313. However, acquisition cost, refurbishment cost, finance costs and legal/compliance costs cannot be established from the evidence. The refinance case is therefore unverified and depends on acceptable valuation, lawful use and lender acceptance of the leasehold flat and its configuration.

Buy-to-Let Analysis

The auctioneer estimates £500 per room pcm, or £30,000 pa, but this is expressly subject to HMO status. No HMO licence has been applied for or provided, and the property is in an Article 4 area. No sufficiently specific external rental evidence is available, so a reliable current BTL rent and gross yield cannot be established. Service charge is provisionally £100 pcm and insurance is estimated at £700-£1,000 pa.

Flip Analysis

The supplied evidence supports an indicative GDV range of £230,000 to £293,500, with a midpoint of £261,750. A flip surplus cannot be calculated because no condition-based works allowance, acquisition price, finance cost or selling-cost allowance is supported. The £1,800 including VAT buyer premium should be considered if a purchase occurs.

Investor Risks & Due Diligence

• Five-bedroom use may require HMO licensing and Article 4 compliance; no HMO licence is provided.

• The auctioneer's £30,000 annual rent estimate is conditional on HMO status and is not passing rent.

• No sufficiently specific rental comparables are available.

• No condition-based refurbishment cost is supplied.

• Residential or commercial use may require necessary consents.

• Leasehold service charge and insurance costs are estimated or provisional rather than fully confirmed.

• Comparable sales vary by date and property details, limiting GDV precision.

• Buyer premium of £1,800 including VAT is payable on exchange of contracts.

Recommendation

Proceed only after confirming lawful residential use, HMO/planning requirements, lease and service-charge position, and inspecting condition. Do not underwrite the auctioneer's £30,000 rent without an HMO licence and compliant operation.

Strategy Rating

Analysis Confidence

There are several leasehold comparables and a stated auctioneer rent estimate, but no condition report, EPC, council tax, external rental evidence, HMO licence, planning position, confirmed purchase price or refurbishment costs.