37 & 39 Bristol Gardens & 1 Bennett Road, Brighton, East Sussex

Description

Freehold end-of-terraced corner property with frontage onto both Bristol Gardens and Bennett Road, currently arranged as three self-contained units. Flat 39 Bristol Gardens is a ground floor flat comprising a living room, kitchen, bedroom and bathroom. Flat 1 Bennett Road is a first and second floor maisonette comprising a living room, kitchen, two bedrooms and a bathroom, with a private garden. Flat 37 Bristol Gardens is a two-bedroom maisonette with a private garden. The auctioneers have been unable to inspect Flat 37 Bristol Gardens and cannot confirm its layout or condition.

Accommodation

39 Bristol Gardens: ground floor; living room 4.12 x 3.94, kitchen 5.05 x 2.45, bedroom 4.93 x 3.72, bathroom 2.31 x 1.63; total floor area 45 sq.m, taken from the EPC. 1 Bennett Road: maisonette; living room 4.82 x 3.94, kitchen 2.72 x 2.18, bedroom 1 6.77 x 3.59, bedroom 2 3.74 x 2.97, bathroom 2.72 x 2.18; total floor area 75 sq.m, taken from the EPC. 37 Bristol Gardens: rear maisonette; total floor area 44 sq.m, taken from the EPC.

Location

Situated in the heart of Kemptown, approximately a 2 minute walk from Brighton's seafront. Kemptown offers independent shops, cafes and restaurants. Brighton city centre and mainline station are approximately 1.5 miles from the property. London Victoria is 62 minutes away.

Tenure / Property Information

Investment Analysis

The £575,000 guide is above the supplied £515,000 2023 sale at 22B Bristol Gardens, although that is not directly comparable to this three-unit property. Other comparables are older and lack sufficient detail. A reliable GDV cannot be established from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, possession position, inspecting all accessible areas, obtaining a valuation and establishing unit-by-unit rental evidence. Maintain strict bid discipline at the auction.

Works Required

No refurbishment scope can be confirmed. Inspection of the occupied flat, review of the vacant units, condition surveys, statutory compliance checks and any required remedial works should be completed before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable because GDV, refurbishment costs, total rental income and the condition of the inaccessible occupied flat are unknown. Possession proceedings may also affect timing and control of the asset.

Buy-to-Let Analysis

Whole-property rental income cannot be established. One flat is let at £1,300 pcm, but the other units' achievable rents are unknown. The £2,100 pcm five-bedroom listing is an asking-rent benchmark, not confirmed achieved rent for this property. Gross yield cannot therefore be calculated reliably.

Flip Analysis

A flip appraisal cannot be completed reliably. The supplied sales are limited, dated or not directly comparable, while refurbishment costs, resale costs and a supported GDV are unavailable.

Investor Risks & Due Diligence

• Flat 37 Bristol Gardens has not been inspected and its layout and condition are unconfirmed.

• Possession proceedings are ongoing for the tenant of Flat 37 Bristol Gardens.

• Total achievable rent for the three units is unknown.

• The supplied £2,100 pcm figure is an advertised asking rent, not achieved rent confirmed for this property.

• Comparable sales are limited, dated and not sufficiently detailed for a reliable GDV.

• Additional purchaser disbursements are unspecified and may be payable.

Recommendation

Proceed only after reviewing the legal pack, possession position, inspecting all accessible areas, obtaining a valuation and establishing unit-by-unit rental evidence. Maintain strict bid discipline at the auction.

Strategy Rating

Analysis Confidence

There is useful title, occupancy, accommodation and comparable-sale evidence, but the occupied flat is uninspected and total rental, condition, works, GDV and purchaser disbursements are not established.