41 Salisbury Road, Southsea, Hampshire

Description

Investment comprising four leasehold self-contained flats within a Victorian bay-fronted three-storey building. Arranged to provide three one-bedroom flats and one two-bedroom flat. Total GIA approximately 237.75 sq m (2,558 sq ft). Rear courtyard garden. By order of receivers.

Accommodation

Four self-contained flats: three one-bedroom flats and one two-bedroom flat. Basement storage accommodation is understood to benefit from its own access.

Location

The property is located on the north side of Salisbury Close. There is a range of shops and amenities nearby along Albert Road and within Southsea. Fratton Rail Station is to the north. The M275 motorway is easily accessible to the north. Southsea Beach and The Rose Gardens are within easy reach.

Tenure / Property Information

Investment Analysis

The property comprises four fully let leasehold flats: three one-bedroom and one two-bedroom units. Supplied completed-sale evidence on Salisbury Road ranges from £109,000 to £186,500, but the comparables are individual flats and their sizes, configurations and condition are not provided. They therefore do not support a reliable aggregate GDV for this four-flat investment. No passing rents, auctioneer rent estimate, service charges, buyer premium, administration charge or condition information is supplied.

Investment Snapshot

Strategy Recommendation

Treat as a potentially income-led multi-flat acquisition, but do not rely on the £300,000+ guide as an investment value. Obtain verified unit-by-unit rents, costs, legal documents and condition information before bidding.

Works Required

No specific repair, refurbishment or compliance works are evidenced. Obtain a full survey, tenancy schedule, EPC information, gas and electrical records, and details of any communal or external maintenance before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported GDV, rent, refurbishment budget, buyer-cost information or finance-cost information. The separate long leasehold titles and fixed nominal ground rents are potentially helpful, but title, lender acceptability, service-charge arrangements and tenancy documentation require verification.

Buy-to-Let Analysis

The property is fully let under Assured Periodic Tenancies, but no passing rents or sufficiently specific rental evidence are supplied. BTL income, yield, debt affordability and maximum bid cannot therefore be established. Confirm the rent for each flat, tenancy terms, arrears, deposits and landlord obligations.

Flip Analysis

A flip appraisal is not supported by the evidence. The available comparables relate to individual leasehold flats rather than the complete four-flat investment, and no supported selling allowance, refurbishment budget or aggregate resale value is available.

Investor Risks & Due Diligence

• No passing rent or sufficiently specific rental evidence is supplied, so income and yield cannot be tested.

• The completed-sale comparables are individual flats and cannot reliably establish the value of the four-flat investment without unit details.

• Condition, refurbishment requirements and compliance information are not supplied.

• Buyer premium, administration charge and other potential seller or third-party charges are unknown.

• Service-charge and communal-maintenance arrangements are not stated.

• Tenancy schedules, arrears, deposits and other Assured Periodic Tenancy details require verification.

• EPC, council tax, parking and heating information are not supplied.

Recommendation

Treat as a potentially income-led multi-flat acquisition, but do not rely on the £300,000+ guide as an investment value. Obtain verified unit-by-unit rents, costs, legal documents and condition information before bidding.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy and some local completed sales are supplied, but critical valuation inputs—passing rent, rental comparables, condition, refurbishment costs, buyer costs and unit-specific comparable detail—are absent.