40 Lesingham Drive, Tile Hill, Coventry, West Midlands CV4 9JT

Description

Two bedroom ground floor flat requiring modernisation. Located off Tile Hill Lane, Coventry and within close proximity to Hearsall Common Woodland. Ideal investment opportunity.

Accommodation

Entrance Hall; Lounge: 16 ft 4 in x 13 ft; Kitchen: 8 ft 9 in x 8 ft 4 in; Bedroom 1: 11 ft 6 in x 9 ft 5 in; Bedroom 2: 12 ft 9 in x 9 ft 9 in; Bathroom; Utility room/store: 6 ft 5 in x 4 ft 6 in.

Location

Located off Tile Hill Lane, Coventry and within close proximity to Hearsall Common Woodland.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or GDV evidence supplied, so market value cannot be reliably estimated. The supplied rental evidence indicates advertised asking rents of £875–£1,250 pcm, but includes houses and may not reflect this flat or achieved rent.

Investment Snapshot

Strategy Recommendation

Do not set a bid based on the current evidence. Obtain the legal pack, lease/service-charge details, inspection findings, contractor quotations and comparable completed sales before considering purchase.

Works Required

Modernisation of the flat as required, subject to inspection and contractor quotations. The evidence does not specify the required works or their cost.

Rental & Market Context

Potential BRRR Position

BRRR analysis is unsupported because there is no GDV evidence, refurbishment budget or confirmed leasehold cost information. The 75% refinance amount cannot be calculated.

Buy-to-Let Analysis

Indicative advertised rents are £875–£1,250 pcm, but no achieved rent or auctioneer estimate is supplied. Yield cannot be established without a selected purchase price, refurbishment cost, service charge, ground rent and other acquisition costs.

Flip Analysis

A flip surplus cannot be calculated because no completed-sale evidence, GDV, refurbishment cost or selling allowance is supplied.

Investor Risks & Due Diligence

• Lease term information is supplied, but service charge, service-charge period and ground rent remain unknown.

• The flat requires modernisation, but the scope and cost of works are unknown.

• Advertised rents are not achieved rents and the evidence includes houses as well as flats.

• Buyer premium and administration charge total £2,400, with possible additional search, seller, legal and transfer charges.

• No completed-sale comparables were supplied to support a market value or GDV.

• Electric heating and on-street parking may affect tenant and buyer appeal, although their financial impact is unquantified.

Recommendation

Do not set a bid based on the current evidence. Obtain the legal pack, lease/service-charge details, inspection findings, contractor quotations and comparable completed sales before considering purchase.

Strategy Rating

Analysis Confidence

No sold comparables, GDV, refurbishment cost, achieved rent, service-charge information or ground-rent information were supplied; additional auction fees are also unspecified.