62 & 62A Brookley Road, Brockenhurst, Hampshire, SO42 7RA

Description

The property comprises a freehold mid-terrace convenience store with a substantial self-contained two-bedroom flat above, arranged over a total floor area of approximately 424 sq m (4,573 sq ft). The ground floor provides the convenience store accommodation, with the residential two-bedroom flat above extending to approximately 977 sq ft and benefiting from independent access to the rear. The property offers asset management potential through implementing the outstanding rent review and renegotiating the lease for the first-floor flat. Development/reconfiguration potential is noted to convert the flat into a HMO or sell it separately. The investment is VAT free.

Accommodation

Total floor area approximately 424 sq m (4,573 sq ft). Ground-floor convenience store. First-floor self-contained two-bedroom flat of approximately 977 sq ft with independent rear access.

Location

Brockenhurst is a New Forest village with eateries, butchers, grocers, an award-winning bakery and independent shops. Brockenhurst railway station is approximately 0.3 miles away, with direct services to London Waterloo, Southampton, Bournemouth and Lymington, together with wider connections across the South Coast.

Tenure / Property Information

Investment Analysis

The £450,000 guide equates to approximately £98 per sq ft on the stated total floor area, but no completed sales, capitalisation yield or formal valuation evidence is supplied. The auctioneer’s circa £57,000 p.a. rent estimate implies a strong headline income return, although it is subject to negotiations, rent reviews and new rents being agreed. A reliable GDV, scenario range and maximum bid cannot be established from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Prioritise income retention and asset management: verify the commercial rent review position, confirm the actual passing rents and renegotiate the residential tenancy before bidding. Treat HMO conversion or separate disposal of the flat as unproven optionality, not ascribed value.

Works Required

No specific physical defects or refurbishment requirements are evidenced. Potential works are limited to asset management: implement the outstanding commercial rent review, review the residential company tenancy and consider any professionally assessed reconfiguration or HMO conversion only after confirming planning, licensing, building and fire-safety requirements.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget, finance terms or capitalisation evidence is supplied. The commercial rent review and residential lease renegotiation may provide asset-management upside, but refinance proceeds cannot be calculated reliably.

Buy-to-Let Analysis

Using the auctioneer’s circa £57,000 annual rent estimate, the headline gross yield on the £450,000 guide is approximately 12.67%. This is not a passing-rent analysis: the rent is an estimate, the commercial lease has an outstanding 2025 rent review, and the residential unit is on a rolling company tenancy and holding over. The calculated total-cost yield also excludes any unknown works, buyer costs, finance, tax and other acquisition expenses.

Flip Analysis

A flip appraisal cannot be supported because there are no completed sales, formal GDV evidence, refurbishment costs or selling-cost allowance. The property is presented primarily as an income-producing mixed-use freehold investment rather than a demonstrably priced refurbishment opportunity.

Investor Risks & Due Diligence

• The circa £57,000 p.a. figure is an auctioneer estimate rather than evidenced passing rent and is subject to negotiations, rent reviews and new rents being agreed.

• The commercial lease has an outstanding rent review from 2025, creating uncertainty over the current and future rent.

• The residential flat is on a rolling company tenancy from 2007 and is currently holding over, so income, possession and renewal terms require verification.

• No buyer premium, administration charge or other acquisition costs are supplied.

• No physical condition, EPC, heating, parking or council-tax evidence is supplied.

• Potential HMO conversion, reconfiguration or separate sale of the flat is not assured and may require planning, licensing, building and fire-safety approvals.

• No completed sales or formal capitalisation evidence is supplied, so market value and refinance value cannot be established.

Recommendation

Prioritise income retention and asset management: verify the commercial rent review position, confirm the actual passing rents and renegotiate the residential tenancy before bidding. Treat HMO conversion or separate disposal of the flat as unproven optionality, not ascribed value.

Strategy Rating

Analysis Confidence

The guide price, tenure, accommodation, lease information and auctioneer rent estimate are supplied, but there are no completed comparables, formal valuation, passing rents, buyer costs, EPC, physical condition report, refurbishment budget or finance assumptions.