60A Preston Road, Westcliff-On-Sea, Essex

Description

A good sized two bedroom flat with large second floor loft rooms benefitting from a long lease with 124 years remaining. This spacious maisonette extends to more than 1,300 sq/ft over first and second floors and is situated close to the shops, bars and restaurants of Hamlet Court Road and only a short walk from Westcliff Station. The property is well presented internally with scope to improve access to the upper floor space. The property qualifies for the local Residents Parking Scheme.

Accommodation

Ground Floor: Communal entrance door, communal hall and staircase. First Floor: Personal Entrance Door, Entrance Hall, Lounge: 17'3" x 12'10", Kitchen: 12'9" x 8'10", Bedroom 1: 13'2" x 8'4", Bedroom 2: 9'4" x 8'3", Bathroom/WC: 12'10" x 5'4". Second Floor: Large loft rooms.

Location

Situated close to the shops, bars and restaurants of Hamlet Court Road and only a short walk from Westcliff Station.

Tenure / Property Information

Investment Analysis

Completed sales evidence ranges from £108,000 to £245,000. The £108,000 sale is materially lower than the other supplied evidence and may not be directly comparable. The subject property sold for £180,000 on 21 May 2025, while other Preston Road flat/maisonette sales were £204,000 and £245,000. A cautious base GDV of £204,000 is used, with £180,000 low and £245,000 high scenarios. These are evidence-based estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Proceed only with strict price discipline and after reviewing the legal pack, service charge and loft-room access/consent position. The evidence supports a potential value-led resale or owner-occupier purchase at around the guide, but does not support a reliable BTL or BRRR strategy without rent and cost evidence.

Works Required

The property is described as well presented internally. The identified opportunity is to improve access to the large second-floor loft rooms. No priced refurbishment schedule or confirmed defects are supplied, so no works allowance is included. Verify the legal pack, loft-room status, service charge and any required consents before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £175,000 guide, the known buyer premium and admin charge produce a base cost of £177,400 before any disbursements, finance, tax or works. At the £204,000 base GDV, 75% refinance is £153,000, leaving indicative cash of £24,400 in before finance and tax. This depends on lender valuation, mortgageability, legal-pack matters and the absence of significant works or service-charge liabilities.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property is vacant, leasehold and has an unquantified service charge. Do not rely on a rental strategy without independently verifying achievable rent and all ongoing costs.

Flip Analysis

Using the £204,000 base GDV against £177,400 of purchase plus known charges indicates £26,600 before selling costs, finance, tax, disbursements and any works. At the £180,000 low GDV, the margin before those costs is only £2,600; therefore the resale case is highly price-sensitive. No supported selling-cost allowance is supplied, so a formal flip surplus is not calculated.

Investor Risks & Due Diligence

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

• Annual service charge is not supplied and must be confirmed from the legal pack.

• The second-floor loft rooms and proposed access improvement may require verification of permissions, lawful use and building/lease compliance.

• Additional legal-pack disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees may apply.

• The low comparable value of £180,000 leaves little apparent margin over the guide and known charges.

• Leasehold terms, mortgageability and any restrictions must be checked in the legal pack.

Recommendation

Proceed only with strict price discipline and after reviewing the legal pack, service charge and loft-room access/consent position. The evidence supports a potential value-led resale or owner-occupier purchase at around the guide, but does not support a reliable BTL or BRRR strategy without rent and cost evidence.

Strategy Rating

Analysis Confidence

Several relevant completed sales are supplied, including a prior sale of the subject property, but there is no rental evidence, no refurbishment quotation, no service-charge figure, no disbursement schedule and no confirmed selling-cost allowance.