5b Connaught Place, Weston-Super-Mare, North Somerset

Description

A leasehold flat occupying the hall floor of a converted period property in an elevated position overlooking the main town. The property requires complete modernisation and has potential to be rearranged, subject to gaining the necessary consents.

Accommodation

Private entrance leading to a reception room, separate kitchen, bedroom to the rear, shower and WC.

Location

Weston Super Mare is a popular seaside town on the Bristol Channel coast in North Somerset, approximately 18 miles (29 km) south-west of Bristol. It has a sandy beach, town centre amenities, the Grand Pier, parks and green spaces, and transport links including the M5 motorway and regular train services.

Tenure / Property Information

Investment Analysis

Completed same-street leasehold flat sales range from £100,000 to £240,000. The more recent evidence is £154,000 for 5A in February 2026 and £140,500 for 3 in February 2024. As bedroom numbers, floor areas and condition are not supplied, these are not fully comparable. A provisional base GDV of £140,500 is used, with £100,000 low and £154,000 high scenarios. The property’s complete-modernisation requirement creates material uncertainty.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack, survey and detailed refurbishment-cost verification. The lower guide could support a refurbishment-led BTL or resale case on paper, but no maximum bid should be set without works, finance and exit-cost evidence.

Works Required

Complete modernisation of the reception room, kitchen, bedroom, shower/WC and associated finishes/services as identified by the condition description. Any rearrangement is subject to the necessary consents. No specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a provisional £140,500 base GDV, 75% refinance is £105,375. However, refurbishment costs, finance costs and the eventual purchase price are unsupported, so cash left in and equity requirements cannot be calculated. The strategy depends on completing modernisation within budget and achieving the provisional GDV.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £888 pcm, equivalent to £10,656 annually, not an achieved or guaranteed rent. On the £50,000 lower guide this equates to 21.31% gross yield; on the £75,000 upper guide it equates to 14.21%. Net yield and yield on total cost cannot be established because refurbishment costs and other acquisition costs are not fully evidenced.

Flip Analysis

The same-street evidence supports a broad provisional GDV range of £100,000 to £154,000, but the comparables lack size, bedroom and condition details. A flip surplus cannot be calculated because refurbishment costs and a supported selling-cost allowance are unavailable. The complete-modernisation requirement makes the resale margin highly sensitive to the auction purchase price and works budget.

Investor Risks & Due Diligence

• Complete modernisation is required, but no refurbishment cost evidence is supplied.

• Potential rearrangement is subject to obtaining the necessary consents.

• Comparable sales vary materially from £100,000 to £240,000 and their sizes, bedroom counts and conditions are not provided.

• The £888 pcm figure is an advertised asking rent rather than achieved or passing rent.

• Insurance of £237.50 per annum is stated to be subject to the legal pack; no formal management fee is confirmed.

• Parking and heating information are not supplied.

• Buyer premium of £1,800 including VAT is payable on exchange and must be allowed for in any bid calculation.

Recommendation

Proceed only subject to legal-pack, survey and detailed refurbishment-cost verification. The lower guide could support a refurbishment-led BTL or resale case on paper, but no maximum bid should be set without works, finance and exit-cost evidence.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and one rental asking figure, but comparable specifications, property condition detail, refurbishment costs, finance costs, selling costs and full legal-pack information are absent.