29 Falkland Court, Braintree, Essex, CM7 9LL

Description

A vacant second floor two bedroom flat in a well maintained purpose built block with off street parking. Situated in a popular residential area, this spacious 2 bedroom flat benefits from floor to ceiling windows in the lounge and master bedroom providing plenty of natural light, fitted kitchen and bathroom, entry phone system and off street parking. The property would benefit from light refurbishment but is generally in good condition.

Accommodation

Lounge - 17' 1" x 12' 4"; Kitchen - 8' 10" x 8' 6"; Bathroom - 7' 0" x 5' 9"; Bedroom One - 14' 1" x 10' 0"; Bedroom Two - 10' 11" x 7' 5"

Location

Situated in a popular residential area.

Tenure / Property Information

Investment Analysis

Same-block completed sales range from £85,000 to £165,000. The median is £153,000, used as the base GDV. However, lease lengths and condition of the comparables are not supplied, and this flat has only 47 years remaining, creating material valuation and refinancing uncertainty.

Investment Snapshot

Strategy Recommendation

Proceed only as a price-led BTL or lease-extension project after confirming service charges, lease terms, lenderability and lease-extension costs. Do not rely on the upper comparables without evidence of comparable lease length and condition.

Works Required

Light refurbishment only, as described: general cosmetic updating and review of the fitted kitchen, bathroom and finishes. No detailed schedule or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, substantial gross equity appears possible against the £153,000 base GDV, but total project cost cannot be calculated because refurbishment costs and buyer/admin fees are unknown. A 75% GDV refinance is £114,750, though lender acceptance may be restricted by the 47-year lease.

Buy-to-Let Analysis

Advertised two-bedroom rents indicate £1,125–£1,235 pcm, equivalent to approximately £13,500–£14,820 annually. On the £65,000 guide, the gross yield is approximately 20.8%–22.8%, before fees, works, finance, service charges and voids. The 47-year lease is a major BTL and resale risk.

Flip Analysis

The evidence supports a broad resale range of £85,000–£165,000, with a £153,000 median. Flip profitability cannot be established because refurbishment, acquisition, selling and lease-extension costs are unsupported. The short lease may materially reduce resale demand and achievable price.

Investor Risks & Due Diligence

• Only 47 years remain on the lease.

• Comparable sale prices vary substantially from £85,000 to £165,000.

• Refurbishment costs are not provided.

• Buyer, administration and other auction fees are unspecified.

• Advertised rents are asking rents, not achieved rents.

• EPC is rated E.

• Refinance and resale may be constrained by the short lease.

Recommendation

Proceed only as a price-led BTL or lease-extension project after confirming service charges, lease terms, lenderability and lease-extension costs. Do not rely on the upper comparables without evidence of comparable lease length and condition.

Strategy Rating

Analysis Confidence

There are five same-block completed sales and two advertised rents, but comparable lease lengths, service charges, refurbishment costs, buyer fees and selling costs are unavailable.