57 Sally Hill, Portishead, North Somerset, BS20 7BH

Description

A leasehold first floor flat within the Sally Hill development in Portishead Marina, with approximately 620 sq ft of accommodation comprising a reception room with Juliet balcony, separate kitchen, two bedrooms and a bathroom, plus mature communal gardens. Previously let for many years and now vacant; requires cosmetic updating. Previously listed at £220,000 and more recently £170,000; reduced guide price for live online auction.

Accommodation

Reception room with Juliet balcony, separate kitchen, two bedrooms and a bathroom; approximately 620 sq ft.

Location

Sally Hill development in Portishead Marina. Portishead has a High Street, modern harbourside with restaurants, bars and Waitrose, and the Lake Grounds with its park, esplanade and outdoor swimming pool. The M5 is within 3.5 miles and Clevedon is just under 5 miles away.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 59 Sally Hill for £220,000 in April 2025. Other Sally Hill sales range from £228,000 to £350,000, but are older and lack accommodation, condition and specification details, limiting direct comparability. A £220,000 base GDV is therefore used as an evidence-led estimate, not a formal valuation. The property is described as requiring cosmetic updating, and the lease is long at approximately 973 years remaining.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase at or near guide, subject to confirming the leasehold pack, service-charge position, condition and achievable resale value. Do not rely on a BTL or BRRR return until rent and full project costs are evidenced.

Works Required

Cosmetic updating as described, potentially including redecoration and presentation improvements. No detailed schedule or cost evidence has been supplied, so the refurbishment allowance cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £220,000 base GDV, a 75% refinance is £165,000. The guide is £130,000 plus the £1,800 buyer premium including VAT, before refurbishment and other costs. However, total project cost and cash left in cannot be calculated because refurbishment costs, finance costs and any further acquisition costs are unsupported.

Buy-to-Let Analysis

BTL assessment cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is provided. The stated annual management fee of £2,500 and ground rent of £150 would reduce net income, but service-charge and other ownership costs are not fully evidenced.

Flip Analysis

Using the £220,000 evidence-led base GDV, resale potential appears materially above the £130,000 guide. A reliable flip surplus cannot be calculated because refurbishment, finance, selling and other project costs are not supplied. The comparable evidence is limited and does not confirm identical size, condition or specification.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• The annual management fee is £2,500, with a further £150 annual ground rent; other leasehold costs are not supplied.

• Refurbishment is described only as cosmetic updating, with no schedule or cost estimate.

• Comparable sales lack detailed information on size, condition, specification and exact comparability.

• The guide is stated as £130,000 +++, so the eventual auction price may exceed the guide.

• Finance, resale, legal, tax and other transaction costs are not supplied.

• Vacant possession is stated, but no detailed condition or inspection evidence is provided.

Recommendation

Potential value-add purchase at or near guide, subject to confirming the leasehold pack, service-charge position, condition and achievable resale value. Do not rely on a BTL or BRRR return until rent and full project costs are evidenced.

Strategy Rating

Analysis Confidence

The property description, long lease, guide, buyer premium and several same-development completed sales are available, but rental evidence, refurbishment costs, detailed service-charge information, parking details and full project costs are absent.