46 Tower Road, Ware, SG12 7LW

Description

A self-contained ground floor flat requiring modernisation in a purpose-built block.

Accommodation

Entrance Hall; Living Room; Kitchen; Bedroom; Bathroom/WC

Location

Situated on Tower Road, close to the amenities available in Ware Town Centre and travelling facilities including Ware Train Station. Beacon Park is also nearby.

Tenure / Property Information

Investment Analysis

The supplied evidence does not establish a reliable market value or GDV. The only recent comparable is a £262,500 2023 sale at 90 Tower Road, but its bedroom count, size and condition are not supplied. Older same-road leasehold flat sales were £137,000 and £139,500 in 2014. The property is vacant, leasehold and requires modernisation. Rental evidence comprises advertised asking rents of £1,080–£1,250 pcm, not achieved rents.

Investment Snapshot

Strategy Recommendation

Proceed only subject to reviewing the legal pack, lease and service-charge information and obtaining a full refurbishment quotation. The strongest evidenced route is potential buy-to-let, but the asking-rent evidence and unknown costs require validation before bidding.

Works Required

Modernisation of the self-contained flat, subject to inspection: review and update of the kitchen, bathroom/WC, decoration and other finishes as required. No specific defects or costs are evidenced, so a refurbishment allowance cannot be quantified.

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 refurbishment costs, a supported GDV, service charges and refinance terms are not supplied. The £1,500 inclusive buyer premium is known, while the seller may charge additional fees under the special conditions.

Buy-to-Let Analysis

Advertised one-bedroom rents range from £1,080 to £1,250 pcm, equivalent to £12,960–£15,000 annually. At the £95,000 guide, this implies an indicative gross yield of approximately 13.64%–15.79%, before refurbishment, service charges, management, voids, finance and other costs. These are asking rents rather than achieved rents, and no service charge or other running costs are supplied, so a reliable net return cannot be established.

Flip Analysis

A resale surplus cannot be calculated. The £262,500 2023 Tower Road sale is not sufficiently comparable because its size, bedroom count and condition are unknown, and no selling allowance or refurbishment budget is supplied.

Investor Risks & Due Diligence

• The flat requires modernisation, but no inspection-based scope or refurbishment cost is supplied.

• The recent £262,500 comparable lacks bedroom, size and condition details and may not be like-for-like.

• Rental figures are advertised asking rents rather than achieved rents.

• Leasehold service charge, reserve fund, restrictions and remaining lease term details beyond the stated 125-year term are not supplied.

• Additional seller fees may be payable under the special conditions of sale.

• EPC D and Council Tax Band B are supplied, but heating and parking information are not.

Recommendation

Proceed only subject to reviewing the legal pack, lease and service-charge information and obtaining a full refurbishment quotation. The strongest evidenced route is potential buy-to-let, but the asking-rent evidence and unknown costs require validation before bidding.

Strategy Rating

Analysis Confidence

The property description, tenure, guide price, buyer premium, one recent comparable and two asking-rent listings are supplied, but there is no measured size, condition budget, service charge, detailed lease information, like-for-like comparable detail, achieved rent or supported GDV.