4 Southfield Rise, Paignton, Torbay, TQ3 2NE

Description

Substantial freehold residential investment comprising six self-contained one-bedroom apartments, all currently let and producing approximately £52,200 per annum. Each apartment averages over 600 sq ft and the property includes some off-road parking.

Location

4 Southfield Rise, Paignton, Torbay, TQ3 2NE

Investment Analysis

Investment Snapshot

Strategy Recommendation

Preferred strategy: Multi-Unit Residential Investment. Confirm this against the legal pack, inspection, finance and local market evidence before bidding.

Works Required

• Obtain a condition / structural survey

• Electrical and heating checks

• Allow for decoration and repairs

• Review tenancy documents, rent history and landlord compliance

HB initial works allowance: £15,750–£42,000. This is an investment-feasibility allowance, not a contractor quotation.

Rental & Market Context

The auction particulars state current rental income of approximately £52,200 per annum. For initial appraisal only, HB estimates market rent at approximately £850–£1,025 pcm (£10,200–£12,300 pa). This is an HB estimate and should be verified against current local lettings.

GDV / Resale Analysis

HB indicative post-works / stabilised value range: £567,000–£640,500. This is an appraisal estimate only, not a RICS valuation. Verify against recent genuinely comparable sold evidence.

Properties Sold Within Approx. 5 Miles

Specific sold transactions are not contained in the supplied scrape, so no unverified addresses or sold prices have been inserted. Check recent Land Registry / local comparable evidence before setting a maximum bid.

Potential BRRR Position

Illustrative middle case: guide £525,000 plus midpoint works of £28,875 gives about £553,875 before acquisition/finance costs. At the midpoint HB value of £603,750, an illustrative 75% refinance is about £452,812, leaving approximately £101,062 of purchase/works capital before transaction costs.

Flip Analysis

Midpoint HB value £603,750 less guide and midpoint works gives an initial gross spread of about £49,875. This is not profit: SDLT, auction fees, legal fees, finance, holding costs, utilities, insurance, selling fees and contingency must also be deducted.

Investor Risks & Due Diligence

• Review the full legal pack, title and special conditions

• Confirm buyer's premium / auction administration charges and completion timetable

• Obtain a suitable condition or structural survey

• Verify refurbishment quotations and contingency

• Verify current rental evidence and recent comparable sales

• Confirm lender requirements, valuation and exit finance

• Verify tenancy agreements, deposits, rent history and landlord compliance

Recommendation

Initial recommendation: Multi-Unit Residential Investment. Proceed only if the legal pack, condition, funding and exit-value evidence support the proposed maximum bid.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★☆☆ | Flip/Resale: ★★★☆☆