49 Pocketts Wharf, Swansea, West Glamorgan, SA1 3XL

Description

Set within the Pocketts Wharf development and enjoying a prime waterfront position, the upper-floor apartment comprises an open-plan lounge and kitchen, two bedrooms, a main bedroom with a walk-in wardrobe, a shower room and a balcony. Cash buyers recommended.

Accommodation

Open-plan lounge and kitchen, two bedrooms, main bedroom with walk-in wardrobe, shower room and balcony.

Location

Pocketts Wharf is located in Swansea Marina within easy reach of the city centre, Swansea Bay, boutique cafés, restaurants, bars and leisure facilities. The property is within the sought-after development, close to the Marina and has views of the waterfront.

Tenure / Property Information

Investment Analysis

Five HM Land Registry sales within Pocketts Wharf range from £199,950 to £325,000. The median is £232,500, used as the base GDV. The £325,000 sale is materially above the other evidence and may not be directly comparable because sale details such as condition, floor, aspect and parking are unavailable. The £199,950 sale is used as the low scenario and £325,000 as the high evidence-supported scenario.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a rental-led purchase at or near the guide, subject to confirming lease terms, service charge, ground rent, condition, legal title and achieved local rent. Do not rely on the apparent GDV spread for a flip or refinance without full due diligence.

Works Required

No refurbishment works are specified in the supplied evidence. Allowance should therefore not be assumed; confirm condition, fixtures, services and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the guide price and the known £1,800 administration charge, with no works allowance because none is evidenced, base cost is £101,800. A 75% refinance against the £232,500 base GDV would be £174,375, indicating theoretical cash released of £72,575 before finance costs, tax and other acquisition or sale costs. Actual refinanceability is uncertain because the property is leasehold, only 87 years remain, service-charge information is unavailable and cash buyers are recommended.

Buy-to-Let Analysis

At the £100,000 guide, the supplied advertised two-bedroom rents of £925–£1,150 pcm imply gross yields of 11.10%–13.80%. Using the midpoint asking rent of £1,037.50 pcm gives £12,450 annual rent and a 12.45% gross yield on the guide, or 12.23% including the known £1,800 buyer administration charge. These are advertised rents, not achieved rents. Service charge, ground rent, management, maintenance, voids, finance and any seller fees are unknown, so net yield cannot be established.

Flip Analysis

The base GDV of £232,500 indicates a substantial difference from the £100,000 guide. However, no refurbishment requirement, selling costs, finance costs, seller fees or condition information is supplied. A reliable flip surplus cannot therefore be calculated. The comparable range is also wide and the highest sale may not be directly comparable.

Investor Risks & Due Diligence

• Only 87 years remain on the lease; lease extension cost and lender acceptability are unknown.

• Annual service charge and ground rent are not supplied.

• The auctioneer recommends cash buyers, which may restrict mortgage or refinance availability.

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

• Additional seller fees may be payable under the Special Conditions of Sale.

• Comparable sales range widely from £199,950 to £325,000, with limited detail on condition, floor, aspect and parking.

Recommendation

Potentially attractive as a rental-led purchase at or near the guide, subject to confirming lease terms, service charge, ground rent, condition, legal title and achieved local rent. Do not rely on the apparent GDV spread for a flip or refinance without full due diligence.

Strategy Rating

Analysis Confidence

There is strong same-development sales evidence and some local rental asking evidence, but condition, exact comparability, service charges, ground rent, parking, EPC, heating, seller fees and refurbishment requirements are unavailable.