53 / 53A Cotswold Road, Westcliff-on-Sea, Essex, SS0 8AA

Description

This Freehold building is currently arranged as two self-contained flats. Both are currently let and producing a total rental income of £1,900pcm (£22,800 pa). The current tenants are to remain in situ. The property is within easy access of both Hamlet Court Road shops and Westcliff on Sea mainline railway station.

Accommodation

Ground Floor: Entrance Hall; Lounge: 15'9 x 14'9 into bay; Kitchen: 10'6 x 9'9; Bedroom: 13'3 x 12'3; Bathroom / Wc. Externally: Private Section of Rear Garden. First Floor: First Floor Landing; Lounge: 14'9 x 13'7 into bay; Kitchen: 11'5 x 9'8; Bedroom One: 13'6 x 13'2; Bedroom Two: 9'1 x 8'9; Bathroom and Separate W/c. Externally: Private Section of Rear Garden.

Location

Within easy access of both Hamlet Court Road shops and Westcliff on Sea mainline railway station

Tenure / Property Information

Investment Analysis

The supplied completed-sale evidence is insufficient for a reliable current GDV. The comparables are dated and materially inconsistent: 71 Cotswold Road sold for £336,500 in 2020, while 57 Cotswold Road sold for £187,500 in 2016 and £430,750 in 2018. The subject is arranged as two self-contained flats, so these sales cannot be directly applied without further detail on accommodation, condition, legal use and current market evidence. The existing income is £1,900 pcm, but no sufficiently specific external rental comparables were identified.

Investment Snapshot

Strategy Recommendation

Consider as an income-led hold/BTL only subject to verification of the tenancy income, legal two-flat arrangement, compliance, condition and all auction fees. Do not bid on a flip or BRRR basis without an independent valuation and full due diligence.

Works Required

No refurbishment works or defects are evidenced. Obtain a condition survey and verify the legal and safety compliance of the two-flat arrangement before allowing for any 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 reliably because no current GDV, refurbishment budget or refinance valuation is supported by the evidence. The existing tenancy income may support an investment case, but the achievable refinance amount and cash left in are unknown. Verify title, planning and building compliance for the two-flat arrangement, tenancy documentation and actual rent receipts.

Buy-to-Let Analysis

The property is currently let with tenants remaining in situ and reported total income of £1,900 pcm (£22,800 pa). Against the £275,000 guide price, this produces an 8.29% gross yield before finance, tax, maintenance, voids, management, insurance and other costs. This is based on reported passing rent, not independently verified market rent. Net yield cannot be established because costs, tenancy details and EPC information are unavailable.

Flip Analysis

A flip appraisal is not supported. No current GDV, condition-based works budget, selling costs or reliable comparable evidence for this two-flat arrangement is provided. The dated comparables show a wide range and cannot establish a resale value.

Investor Risks & Due Diligence

• Both flats are tenanted and tenants are to remain in situ, so vacant possession and immediate redevelopment or refurbishment cannot be assumed.

• The legal, planning and compliance status of the building's arrangement as two self-contained flats is not evidenced.

• No current market valuation or sufficiently comparable rental evidence is available.

• The supplied completed-sale comparables are dated and materially inconsistent.

• Buyer, administration and other auction fees are unspecified, so total acquisition cost cannot be calculated.

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

• Reported rent should be verified against tenancy agreements, rent statements and bank receipts.

Recommendation

Consider as an income-led hold/BTL only subject to verification of the tenancy income, legal two-flat arrangement, compliance, condition and all auction fees. Do not bid on a flip or BRRR basis without an independent valuation and full due diligence.

Strategy Rating

Analysis Confidence

Passing rent, tenure, occupancy and guide price are supplied, but there is no current valuation, external rental evidence, condition report, EPC, fee schedule, tenancy detail or confirmation of the legal and regulatory status of the two flats.