26 Ploughlands, Bracknell, Berkshire

Description

By order of a Major Housing Association. Long leasehold 1 bed ground floor self-contained flat requiring modernisation.

Accommodation

Ground floor: One bedroom, reception room, kitchen, shower room/WC, hallway. Gross Internal Area GIA: Approximately 46 sq m (495 sq ft).

Location

The property is situated on Ploughlands, a residential cul-de-sac, off Moordale Avenue via Kingsmere Road. Public transport links include Bracknell Mainline Railway Station and local bus services. Road links include the A329(M) and M4 motorway. Shopping amenities are available in Bracknell Town Centre including The Lexicon, with further shops, bars and restaurants in Reading. Recreational pursuits are available at Jocks Lane Recreation Ground and Lily Hill Park.

Tenure / Property Information

Investment Analysis

The guide is £105,000. Three same-street leasehold flat sales are supplied at £164,000 in September 2022, £199,950 in August 2018 and £190,000 in December 2015. However, bedroom count, size, condition, lease terms and sale circumstances are not provided, so they are insufficient to establish a reliable GDV or valuation range. The £1,800 inclusive-of-VAT contract documentation fee is known; seller-charged additional fees remain unspecified.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain the legal pack, full lease terms, seller-charged fees, service information and a detailed refurbishment quotation before considering a purchase or resale strategy.

Works Required

Modernisation of the flat as described, subject to inspection and the legal documentation. All services are disconnected, and the condition of the heating system and other services is unwarranted, so testing, reconnection and any necessary remedial work should be assessed before bidding. No specific scope or cost is evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified without a supported GDV, rent, refurbishment budget and full lease information. The new 990-year term is potentially favourable, but the remaining lease provisions and any seller-charged completion fees are awaited or unspecified.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Refurbishment costs, lease information and the condition of disconnected services are also unknown.

Flip Analysis

A flip assessment cannot be quantified reliably. Same-street historic sales provide context but lack comparable property details and are not sufficient to establish a current resale value. Works costs and selling allowances are also unsupported.

Investor Risks & Due Diligence

• All services are disconnected and their condition is not warranted.

• Refurbishment scope and cost are unknown because the flat is only described as requiring modernisation.

• No sufficiently specific rental evidence is available.

• The lease information is otherwise awaited, so service charges, ground rent, restrictions and other terms are unknown.

• Seller-charged additional completion fees may apply and are unspecified.

• The supplied sold comparables lack bedroom, size, condition and lease-detail information and may not be directly comparable.

Recommendation

Do not bid on current evidence alone. Obtain the legal pack, full lease terms, seller-charged fees, service information and a detailed refurbishment quotation before considering a purchase or resale strategy.

Strategy Rating

Analysis Confidence

The property description, guide, tenure, GIA, EPC, council tax band, fee and historic same-street sales are supplied, but there is no specific rental evidence, refurbishment cost, current comparable detail, full lease information or complete fee schedule.