68 Cornwallis Road, Bilton, Rugby, Warwickshire

Description

2 bedroom first floor maisonette with garden to rear and garage included. Requiring some redecoration, located in a popular residential location in Bilton. Leasehold with 45 years remaining (potential to extend the lease), an ideal investment opportunity.

Accommodation

FIRST FLOOR: Hallway; Kitchen and store: 11 ft 6 in x 6 ft 9 in; Lounge: 15 ft 4 in x 10 ft 2 in; Bathroom; Bedroom 1: 11 ft 3 in max x 10 ft 3 in; Bedroom 2: 10 ft 2 in x 6 ft 9 in. OUTSIDE: Front: Shared garden. Rear: Garden. On street parking and garage.

Location

Popular residential location in Bilton.

Tenure / Property Information

Investment Analysis

Recent same-road leasehold maisonette sales were £105,000 in April 2025 and £128,000 in May 2026. The subject’s 2007 sale was £106,500. A base GDV of £115,000 is a cautious evidence-based estimate, but the 45-year lease, condition and unknown lease-extension cost materially reduce certainty.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, lease-extension advice and confirmed financeability. Potentially suitable for BTL, but avoid bidding at a level that fails to allow for the short lease and unknown costs.

Works Required

Redecoration as described, subject to inspection. No further works are evidenced. Obtain quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At an £80,000 guide midpoint, the property could offer substantial apparent value against the £115,000 base GDV. However, refurbishment costs, legal-pack disbursements, lease-extension costs and refinanceability are unknown. The 45-year lease is the principal BRRR risk.

Buy-to-Let Analysis

The sole rental evidence is an advertised asking rent of £950 pcm, equating to £11,400 annually. Against the £80,000 midpoint of the guide, the gross yield is approximately 14.25% before fees, repairs, voids, finance and tax. Mortgageability and lease-extension costs require confirmation.

Flip Analysis

The estimated £115,000 base GDV is supported by recent same-road sales, but a reliable flip surplus cannot be calculated because refurbishment, selling and additional purchase costs are not supplied. The short lease may reduce resale demand and value.

Investor Risks & Due Diligence

• Only 45 years remain on the lease.

• Lease-extension premium and associated costs are unknown.

• Refurbishment cost is not quantified.

• Advertised rent is not an achieved passing rent.

• Additional legal, search, transfer and seller-cost reimbursements may apply.

• Mortgage and refinance availability may be restricted by the short lease.

• Garage, garden and condition comparability with sold evidence is not confirmed.

Recommendation

Proceed only subject to legal-pack review, lease-extension advice and confirmed financeability. Potentially suitable for BTL, but avoid bidding at a level that fails to allow for the short lease and unknown costs.

Strategy Rating

Analysis Confidence

Recent same-road sold comparables and one advertised rent are available, but lease-extension costs, refurbishment costs, selling costs, legal disbursements and mortgageability are unknown.