7 Maple Apartments, Beven Grove, Wakefield, West Yorkshire

Description

Investment opportunity comprising a self-contained second floor duplex flat with parking. By Order of Receivers.

Accommodation

Hallway with spiral staircase to reception room with kitchen area, two bedrooms, one with ensuite shower room/WC, and bathroom/WC.

Location

Maple Apartments is located on the north side of Chaloner Grove, immediately west of its junction with Beven Grove. Wakefield town centre is approximately 1.5 miles south. Wakefield Westgate and Wakefield Kirkgate stations are within reach, Leeds Road (A650) provides access to the M1 motorway, and Pinderfields Hospital is within a short walk.

Tenure / Property Information

Investment Analysis

Recent completed sales in the same apartment development range from £108,500 to £115,000 in 2025, with a £125,000 sale in 2023. A base GDV of £115,000 is used, with low and high scenarios based on the supplied recent and wider comparable evidence. The exact flat, condition, tenancy terms and sale comparability are not confirmed.

Investment Snapshot

Strategy Recommendation

Investigate as a tenanted buy-to-let or potential BRRR purchase, subject to verifying the passing rent, tenancy file, service charges and special conditions. Do not rely on the headline yield or refinance figures until these are confirmed.

Works Required

No specific defects or refurbishment requirements are evidenced. Confirm condition, tenancy compliance, lease documents, service charges and presentation before purchase; any works allowance is unsupported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the guide as the purchase figure and no quantified works or buyer/admin costs, the indicative total cost is £77,000. At a £115,000 base GDV, 75% refinance is £86,250, implying £9,250 cash potentially released before finance, tax, valuation and refinancing costs. Actual BRRR feasibility depends on the existing tenancy, lender criteria, service charges, lease terms and confirmed valuation.

Buy-to-Let Analysis

At the £77,000 guide, the sole supplied advertised asking rent of £950 pcm implies £11,400 annual gross rent and a 14.81% gross yield before ground rent, service charges, management, maintenance, voids, finance and tax. This is an asking rent rather than achieved or passing rent, and the actual tenancy rent is not supplied, so the yield is indicative only.

Flip Analysis

At the guide and base GDV, the indicative gross margin before selling costs, finance, tax and any works is £38,000. No condition-based works allowance or selling-cost allowance is supplied, so a reliable net flip surplus cannot be calculated. The comparable sales are in the same development but may not be identical units.

Investor Risks & Due Diligence

• The flat is subject to an Assured Periodic Tenancy, but the passing rent, tenant status and tenancy documentation are not supplied.

• The £950 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Ground rent is £301.60 per annum and service charge information is not supplied.

• Buyer premium, administration charges and other seller or third-party costs are unknown.

• The property's condition and any required works are not evidenced.

• The comparable sales may not match the subject flat's floor, condition, parking arrangements or tenancy status.

• Refinance assumptions depend on lender valuation, affordability, leasehold criteria and confirmed rental income.

Recommendation

Investigate as a tenanted buy-to-let or potential BRRR purchase, subject to verifying the passing rent, tenancy file, service charges and special conditions. Do not rely on the headline yield or refinance figures until these are confirmed.

Strategy Rating

Analysis Confidence

There are several same-development completed sales and one rental asking listing, but condition, passing rent, service charges, buyer/admin fees, tenancy details and exact comparable-unit attributes are missing.