26 Waterloo Street, Weston-super-Mare, Somerset BS23 1LN

Description

A mid terrace building comprising a Ground Floor Shop with separate rear access to 4 Self-Contained Flats on the first and second floors. Gross Yield 13%.

Accommodation

Ground Floor Shop and 4 self-contained flats on the first and second floors, with separate rear access.

Location

Located close to the junction with Longton Grove Road in an attractive retail parade in the town centre, close to the Sea Front, with nearby multiple retailers such as Tesco Express, The Salvation Army, Haart and Cash Generator and a variety of independent retailers. Weston-super-Mare is approximately 21 miles south-west of Bristol, 33 miles west of Bath and approximately 5 miles from the M5, Junction 21.

Tenure / Property Information

Investment Analysis

The property is a freehold mixed-use building comprising a ground-floor shop and four self-contained flats. The supplied particulars state a 13% gross yield, but provide no passing rent, rent schedule, external rental evidence or completed sales comparables. Two flats are stated to be let on periodic agreements and two have been sold off, creating a need to verify the title structure, retained income and lease arrangements. No evidence supports a GDV or refurbishment allowance.

Investment Snapshot

Strategy Recommendation

Treat as a due-diligence-led income investment rather than a priced refurbishment or flip. Do not rely on the stated 13% yield until the retained rent, tenancy terms, sold-off flat documentation and all additional costs are verified.

Works Required

No condition or defect information is supplied, so no refurbishment works or allowance can be supported. Prior to bidding, verify the condition of the shop and common parts, title and lease documentation, service-charge responsibilities, statutory compliance and the status of the two periodic tenancies.

Rental & Market Context

Potential BRRR Position

A BRRR analysis cannot be completed because no supported GDV, refurbishment cost, rent schedule or refinance valuation is available. The known minimum acquisition figure before any other costs is the £250,000 guide plus the £1,500 administration charge, subject to the auction result and additional non-optional fees.

Buy-to-Let Analysis

The particulars state a 13% gross yield, but no rent figures or rent schedule are supplied and no external rental comparable was identified. The yield therefore cannot be independently recalculated or tested against the £250,000 guide. Two flats are reportedly let periodically and two have been sold off; tenancy income, ownership and lease documentation must be verified. The £1,500 non-refundable administration charge is known, while other possible fees are unspecified.

Flip Analysis

A flip analysis cannot be supported because there are no completed sales comparables, GDV evidence, condition assessment, refurbishment costs or selling-cost allowance. The mixed-use format and two sold-off flats also require legal and marketability due diligence before considering resale.

Investor Risks & Due Diligence

• The stated 13% gross yield cannot be independently recalculated because no rent schedule or passing rents are supplied.

• Two flats are stated to be let on periodic agreements, so tenancy terms, income and possession position require verification.

• Two flats have been sold off, requiring verification of title, leases, retained ownership and the income attributable to the subject property.

• Additional non-optional fixed or variable fees may apply, but are not quantified.

• No condition, EPC, statutory compliance, service-charge or repair information is supplied.

• No market-value or resale evidence is supplied for this mixed-use property.

Recommendation

Treat as a due-diligence-led income investment rather than a priced refurbishment or flip. Do not rely on the stated 13% yield until the retained rent, tenancy terms, sold-off flat documentation and all additional costs are verified.

Strategy Rating

Analysis Confidence

The property description, tenure, guide price, stated yield and administration charge are supplied, but there are no rent figures, rental comparables, sales comparables, condition details, GDV evidence or refurbishment costs.