41C Manor Road, Westcliff-on-Sea, Essex

Description

Vacant first floor flat situated at the rear of an established semi-detached building in a residential location in Westcliff-on-Sea. The property is close to Westcliff-on-Sea railway station, local shops in Hamlet Court Road and the seafront facilities, which are within 0.25 miles. The flat has a gas heating system via radiators and a residents parking area to the front on a first come, first served basis.

Accommodation

Communal entrance hallway with stairs to first floor landing. Private entrance door opening to entrance reception hallway, living room with archway to kitchen area, bedroom and bathroom.

Location

Close proximity to Westcliff-on-Sea railway station, with services to London Fenchurch Street on the C2C line, local shops in Hamlet Court Road and seafront facilities within 0.25 miles. Further shops, supermarkets, restaurants and transportation links are available in surrounding areas, including London Southend Airport.

Tenure / Property Information

Investment Analysis

Recent same-road completed sales provide the main value evidence: £127,500 at 43 Manor Road in March 2022 and £142,000 at 11 Manor Road in April 2023. A base GDV of £135,000 is used as an indicative midpoint, with £127,500–£142,000 as an evidence-supported range. Differences in flat size, specification, condition and sale circumstances are not provided, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let hold if the flat is confirmed satisfactory on inspection and the legal pack contains no adverse cost or lease provisions. Do not rely on the indicative BRRR or flip case without verified total costs and condition.

Works Required

No specific refurbishment defects or works are evidenced. Allow for inspection, cleaning and any repairs only after viewing and reviewing the legal pack; no refurbishment budget can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £135,000 base GDV, 75% refinance is £101,250. This is only £1,250 above the £100,000 guide before auction fees, taxes, works and finance costs. Because those costs and the property condition are unknown, cash left in and the viability of a BRRR exit cannot be established.

Buy-to-Let Analysis

At the £100,000 guide, the advertised asking rent of £1,100 pcm implies £13,200 annual gross rent and a 13.2% gross yield before ground rent, service charge, maintenance, voids, management, finance and auction costs. The rent is an asking figure rather than achieved rent, and service charge and other ownership costs are not supplied.

Flip Analysis

The indicative GDV range is supported by recent same-road sales, but no refurbishment requirement, acquisition-cost schedule or supported resale allowance is available. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• £300 per annum ground rent and other leasehold costs, including any service charge, are not fully evidenced.

• Auction administration, search, other non-optional fees, Stamp Duty, Land Registry fees and VAT may be payable but are not quantified.

• The £1,100 pcm rent is an advertised asking rent, not an achieved or guaranteed passing rent.

• The flat’s condition, size and specification are not provided, limiting the GDV and works assessment.

• Resident parking is first come, first served rather than allocated.

• Recent comparable prices range from £127,500 to £142,000 and may reflect different flat sizes, condition or specifications.

Recommendation

Potential buy-to-let hold if the flat is confirmed satisfactory on inspection and the legal pack contains no adverse cost or lease provisions. Do not rely on the indicative BRRR or flip case without verified total costs and condition.

Strategy Rating

Analysis Confidence

There are two relatively recent same-road completed sales and one advertised rental, but flat sizes, condition, service charge, auction costs, legal-pack details and achieved rental evidence are unavailable.