390C Bitterne Road, Bitterne Village, Southampton, SO18 5RS

Description

Freehold investment with upper floors for development. Substantial four-storey property offered with a commercial tenant on the ground floor and vacant upper floors. The upper parts may be suitable for conversion into residential accommodation, subject to all necessary consents.

Accommodation

Ground floor and basement commercial unit; first and second floors comprise numerous office rooms and ancillary accommodation with separate access.

Location

Located in the popular suburb of Bitterne towards the eastern edge of Southampton.

Tenure / Property Information

Investment Analysis

The guide is £190,000–£210,000 plus fees. Supplied sold evidence ranges from £250,000 to £524,328, but the comparables are recorded as “Other” or different property references and provide no size, accommodation, condition or income detail. They are therefore insufficient to establish a reliable market value or GDV for this mixed commercial/residential property.

Investment Snapshot

Strategy Recommendation

Proceed only after legal, lease, planning and building-condition due diligence. Do not rely on the stated development potential or sold comparables to set a bid without verified conversion costs, GDV and income evidence.

Works Required

Obtain planning and building-regulation advice for any proposed residential conversion of the vacant upper floors. Assess the existing office accommodation, separate access and services before specifying adaptation or refurbishment works. No costed works allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because GDV, refurbishment costs, achievable rent and full acquisition costs are unsupported. The potential residential conversion is expressly subject to consents. Confirm the lease position, title, planning feasibility, costs and refinance valuation before considering this strategy.

Buy-to-Let Analysis

A BTL yield cannot be established because no passing commercial rent, residential rent evidence or auctioneer rent estimate is supplied. The upper floors are vacant and any residential use is subject to the necessary consents. The commercial lease and its full financial terms require review.

Flip Analysis

A flip surplus cannot be calculated. The supplied comparables are insufficiently specific, no conversion or refurbishment budget is available, and buyer, administration, selling and other transaction costs are not quantified. Any resale strategy would depend materially on obtaining consent for the upper floors.

Investor Risks & Due Diligence

• The ground floor and basement are occupied under a 10-year commercial lease commencing 8 June 2021, while the listing also states vacant possession; this apparent inconsistency requires legal clarification.

• Conversion of the vacant upper floors is only potential and is subject to all necessary consents.

• No passing rent or auctioneer rent estimate is supplied, so income and yield cannot be assessed.

• The comparables are not sufficiently specific to establish a reliable valuation for this property.

• Administration, other non-optional costs, VAT, Stamp Duty and Land Registry fees are unspecified and may be payable.

Recommendation

Proceed only after legal, lease, planning and building-condition due diligence. Do not rely on the stated development potential or sold comparables to set a bid without verified conversion costs, GDV and income evidence.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, occupancy structure, lease commencement, guide range and general development potential, but omits rent, lease rent and break terms, floor areas, planning position, condition, works costs, fees and sufficiently comparable valuation evidence.