33 Pegasus Court, 29 Union Road, Solihull, West Midlands, B90 3BU

Description

A well presented second floor apartment comprising reception room with Juliette balcony, kitchen, family bathroom and master bedroom with built-in wardrobes. The property benefits from secure gated parking with an allocated car parking space and manicured gardens. Pegasus Court is a retirement development comprising 39 retirement apartments with gated access to communal parking, an Estate Manager, 24 hour emergency pull cord system, guest suite, communal laundry facilities, battery charge facility for mobility scooters, communal gardens, owners lounge with kitchen, library area and fitness suite.

Accommodation

Living Room: 4.66m x 3.48m (15'3" x 11'5"); Kitchen: 2.33m x 1.95m (7'8" x 6'5"); Bedroom: 5.69m x 1.65m (18'8" x 5'5"); Bathroom: 2.20m x 1.95m (7'3" x 6'5").

Location

Shirley is a popular and well-established suburb of Solihull, offering local amenities, shops, restaurants and leisure facilities. The area has transport links to Solihull, Birmingham and the surrounding motorway network, as well as schools, parks and green spaces.

Tenure / Property Information

Investment Analysis

The five supplied completed sales are all recorded at Pegasus Court and range from £90,000 to £207,500, with a median of £173,000. However, the evidence does not identify the individual units, floor levels, sizes, condition, tenure terms, service charges or sale circumstances. A cautious scenario range is therefore £90,000 to £207,500, with £173,000 used as an indicative base GDV rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a potential low-entry purchase subject to legal-pack, leasehold-cost and unit-specific valuation checks. Do not bid on the apparent GDV discount alone; rental and resale evidence is not sufficiently specific.

Works Required

The description states that the apartment is well presented and provides no evidence of specific defects or refurbishment requirements. No works allowance is therefore quantified. Inspection and review of the legal pack would be required before budgeting any works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £70,000 guide, the stated buyer premium and admin charge add £3,840 before any disbursements or works, giving a known acquisition subtotal of £73,840. A 75% refinance of the indicative £173,000 base GDV would be £129,750, but total project cost cannot be calculated because works, disbursements, finance costs and other leasehold charges are unsupported.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The retirement-development restrictions, lease terms and any service-charge or letting restrictions should be checked in the legal pack before considering letting.

Flip Analysis

The supplied same-development sales indicate substantial potential gross value spread, but the comparables are not matched to the subject unit and no selling costs, finance costs, works budget or other completion costs are provided. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Same-development comparable prices vary materially from £90,000 to £207,500 and are not identified as the subject unit.

• No sufficiently specific rental evidence is available, preventing yield assessment.

• Service charge, ground rent, reserve-fund and retirement-development management costs are not supplied.

• Additional disbursements and other purchaser charges may be payable under the legal pack.

• Leasehold restrictions and letting eligibility have not been evidenced.

• Works, finance and resale costs are not supplied, preventing reliable maximum-bid or profit calculations.

Recommendation

Treat as a potential low-entry purchase subject to legal-pack, leasehold-cost and unit-specific valuation checks. Do not bid on the apparent GDV discount alone; rental and resale evidence is not sufficiently specific.

Strategy Rating

Analysis Confidence

There are several completed sales at the same development and a detailed property description, but the sales are not matched to the subject unit and there is no rental evidence, service-charge information, ground rent, legal-pack detail, works budget or cost information beyond the stated auction charges.