66 Ditchling Rise, Brighton, East Sussex

Description

By order of a major housing association. Freehold building arranged as three selfcontained flats (one flat vacant, two flats sold on leases), requiring updating, part vacant possession.

Accommodation

Flat 2 – Raised Ground Floor – Vacant: one bedroom, reception room, kitchen, bathroom/WC. Flat 1 – LG Floor Garden: sold on a lease. Flat 3 – First: sold on a lease.

Location

Situated on the northern fringes of Brighton’s vibrant seafront town centre with a host of amenities and tourist attractions. Transport options include local bus routes, Brighton rail station and road links via the A23 to London or A27 along the south coast.

Tenure / Property Information

Investment Analysis

The £139,000 guide is the only supplied price evidence. No completed-sale comparables, GDV evidence, rental evidence or detailed lease-income information has been supplied, so market value and investment returns cannot be established reliably. The freehold comprises three self-contained flats, but Flats 1 and 3 have already been sold on long leases, leaving only Flat 2 vacant; the value and income attributable to the retained freehold therefore require legal and valuation review.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain the full lease and special conditions, confirm the freehold income and rights relating to Flats 1 and 3, inspect Flat 2, obtain a refurbishment quotation and establish supported rental and sales evidence.

Works Required

Updating is stated to be required, but no detailed schedule or cost evidence is provided. The EPC is rated G, so the scope and cost of any required energy or other improvement works must be assessed. Parking, heating and council-tax information also require clarification.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported GDV, rent, refurbishment budget or refinance valuation. The retained asset is also affected by the two existing long leases, which require review before assessing refinanceability.

Buy-to-Let Analysis

A BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Flat 2 is vacant; Flats 1 and 3 are subject to approximately 87 years remaining on their stated leases, and their lease income or freehold financial terms are not provided.

Flip Analysis

A flip appraisal cannot be calculated because there are no completed-sale comparables, supported GDV or refurbishment costs. The existing long leases over Flats 1 and 3 and the unspecified updating requirement materially affect resale analysis.

Investor Risks & Due Diligence

• Two of the three flats have been sold on leases, leaving uncertain retained freehold income and control.

• Flat 2 is vacant and the building is stated to require updating, but the works scope and cost are unknown.

• The EPC is rated G and potential improvement requirements have not been costed.

• No sufficiently specific rental evidence or auctioneer rent estimate is supplied.

• No completed-sale comparables or other evidence supports a GDV.

• The seller may charge additional completion fees under the special conditions.

• Parking and heating information is unavailable.

• The supplied council-tax information is inconsistent, stating both Band B and Deleted.

Recommendation

Do not bid on the supplied evidence alone. Obtain the full lease and special conditions, confirm the freehold income and rights relating to Flats 1 and 3, inspect Flat 2, obtain a refurbishment quotation and establish supported rental and sales evidence.

Strategy Rating

Analysis Confidence

Only the guide price, basic accommodation, tenure, occupancy, lease terms and general condition description are supplied. There are no comparable sales, rental evidence, GDV, works budget or detailed fee information.