8 Mary Street, Redfield, Bristol, BS5 9FH

Description

A spacious two-bedroom maisonette measuring approximately 838 sq ft, arranged over two floors and occupying a convenient position in the popular and well-established area of Redfield. The property provides well-proportioned accommodation comprising a generous living room, fitted kitchen, bathroom and two double bedrooms, together with a practical and versatile layout. The property is currently let at £1,450 per calendar month (£17,400 per annum), offering an attractive opportunity for investors seeking an established residential investment with a tenant already in situ.

Accommodation

Generous living room, fitted kitchen, bathroom and two double bedrooms, arranged over two floors. Refer to floorplan for approximate room measurements and internal layout.

Location

Mary Street is situated in the popular and well-established area of Redfield, close to Church Road and its range of independent shops, cafés, restaurants and everyday amenities. The area is well served by public transport, providing access to Bristol city centre and surrounding areas. The property is also within easy reach of St George Park, local schools and recreational facilities.

Tenure / Property Information

Investment Analysis

The subject property sold for £228,000 in July 2024. Two 2026 sales at the same street address, 12 Mary Street, were £250,000 and £325,000, although the substantial difference and different property number reduce comparability. A cautious base GDV of £250,000 is adopted, with £228,000 as the low scenario and £325,000 as the high evidenced scenario. The high case should be treated cautiously because no detailed specification, condition or floor-area comparison is supplied.

Investment Snapshot

Strategy Recommendation

Prioritise as a tenanted BTL or potential BRRR purchase, subject to verifying the tenancy, lease, service charges and condition. Do not rely on the £325,000 high GDV or bid without a full cost and legal-pack review.

Works Required

No refurbishment works are identified in the supplied evidence. The property is described as having a fitted kitchen, bathroom and EPC C. A physical inspection and review of the lease and tenancy documentation are required before budgeting any works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £250,000 base GDV, 75% refinancing equates to £187,500. Against the guide price plus the £2,280 buyer premium, and assuming no works allowance because no works are evidenced, this indicates £20,220 more refinance proceeds than those known acquisition costs before finance, tax and other costs. The result is highly sensitive to the unverified GDV, lease terms, lender valuation and any required works; no finance terms are supplied.

Buy-to-Let Analysis

At the supplied passing rent of £1,450 pcm, annual rent is £17,400. This produces a headline gross yield of 10.55% against the £165,000 guide and 10.40% against the guide plus the £2,280 buyer premium, before finance, tax, management, maintenance, voids, insurance and leasehold charges. The tenant is already in situ, but tenancy terms, deposit position and rent payment history are not supplied. No external rental comparables were identified.

Flip Analysis

A base GDV of £250,000 is supported only cautiously by the supplied same-street evidence. No refurbishment cost, selling costs or detailed condition information is supplied, so a reliable flip surplus cannot be calculated. The apparent gross spread over the £165,000 guide is not a net profit measure.

Investor Risks & Due Diligence

• Lease terms, remaining term, ground rent and service charges are not supplied and must be checked in the legal pack.

• The tenancy agreement, deposit position, payment history and any possession issues are not supplied.

• The £250,000 to £325,000 2026 comparable range is wide and relates to different sales, including another property number.

• No condition survey or refurbishment budget is available.

• Council tax, parking, heating, finance, management, maintenance, void and insurance costs are not supplied.

• The buyer premium is known, but other acquisition and disposal costs are not supplied.

• The £5,000 preliminary deposit and balance of deposit monies and buyer premium must be transferred within 24 hours if successful.

Recommendation

Prioritise as a tenanted BTL or potential BRRR purchase, subject to verifying the tenancy, lease, service charges and condition. Do not rely on the £325,000 high GDV or bid without a full cost and legal-pack review.

Strategy Rating

Analysis Confidence

The current rent, guide, buyer premium and several completed sales are supplied, but the lease, tenancy details, property condition, ongoing costs, sale costs and comparable-property specifications are incomplete.