37 Atlantic View Court, Atlantic Road, Weston Super Mare

Description

A leasehold 2 bed flat occupying a south-facing position on the 4th floor of a purpose-built block in an elevated position on the sought-after Weston Hillside. The property has exceptional sea views, a south-facing balcony, allocated off-street parking, guest parking and mature communal gardens. Previously listed at £175,000 and more recently £150,000; reduced guide price for sale by live online auction.

Accommodation

710 sq ft comprising a generous living space with enclosed balcony, separate kitchen, two double bedrooms and a bathroom.

Location

Weston Super Mare is a popular seaside town on the Bristol Channel coast of North Somerset, approximately 18 miles (29 km) south-west of Bristol. The town has a sandy beach, promenade, amenities, attractions, parks and transport links including the M5 motorway nearby and regular train services.

Tenure / Property Information

Investment Analysis

Evidence indicates a likely market value range of £155,000–£180,000, based on three more recent comparable sales within Atlantic View Court at £155,000, £167,000 and £180,000. The £249,950 sale is materially higher and has not been relied upon. The previous listing prices of £150,000 and £175,000 also support a base GDV of £167,000, subject to confirmation of condition, exact flat position and comparability. The guide price represents a substantial discount to the supported comparable evidence.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a buy-to-let or BRRR strategy at or near the guide, subject to confirming achievable rent, service-charge affordability, mortgageability and condition. Do not rely on the headline yield or GDV without validating the rental market and comparable flat details.

Works Required

No refurbishment works are evidenced in the supplied information. Allow for inspection, cleaning and any minor remedial items only if identified, but no numerical works allowance has been assumed. Confirm the condition of the kitchen, bathroom, balcony, windows, services and communal areas before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £95,000 guide, the analysis includes the known £1,800 buyer premium and assumes no refurbishment allowance because no works are evidenced. At the £167,000 base GDV, 75% refinancing equates to £125,250, exceeding the analysed £96,800 purchase cost including the premium by £28,450 before finance, tax and other costs. Actual refinancing depends on lender valuation, affordability, lease and property condition.

Buy-to-Let Analysis

Using the lower advertised asking rent of £1,050 pcm, annual gross rent is £12,600 and gross yield is approximately 13.26% on the £95,000 guide or 13.02% including the £1,800 buyer premium. The higher advertised asking rent of £1,350 pcm implies approximately 17.05% on the guide, but advertised rents are not achieved rents. The £208.29 monthly management charge, including buildings insurance, equals £2,499.48 annually and will reduce net returns. Mortgage interest, tax, voids, repairs and letting costs are not evidenced or included.

Flip Analysis

The base GDV is £167,000 against analysed acquisition cost of £96,800 including the buyer premium, producing a theoretical £70,200 difference before selling costs, finance, tax and any works. No selling-cost allowance or refurbishment allowance is supported, so a formal flip surplus is not calculated. The higher comparable evidence supports potential resale value, but the subject's condition and achieved saleability remain unverified.

Investor Risks & Due Diligence

• Advertised rental figures are asking rents and may not be achieved.

• The £208.29 monthly management charge materially reduces net rental returns.

• The supplied comparable sales are recorded at Atlantic View Court, Highbury Road, whereas the subject address is Atlantic Road; exact comparability should be verified.

• Property condition and any required works are not evidenced.

• The base GDV is an estimate rather than a formal valuation.

• Mortgage valuation, lender criteria and leasehold underwriting may differ from the analysis.

• The analysis excludes finance costs, taxation, voids, repairs, letting costs and selling costs.

Recommendation

Potentially suitable for a buy-to-let or BRRR strategy at or near the guide, subject to confirming achievable rent, service-charge affordability, mortgageability and condition. Do not rely on the headline yield or GDV without validating the rental market and comparable flat details.

Strategy Rating

Analysis Confidence

There is useful same-block sold-price evidence, two rental asking-rent indicators, a stated lease term, known service charge and a clear auction premium. Confidence is reduced because condition, achieved rent, exact comparable specifications, selling costs and financing terms are not supplied.