82 Moorland Road, St. Austell, Cornwall

Description

Vacant long leasehold self-contained second floor flat. By order of a Housing Association. The Vendor will not accept offers prior to auction.

Accommodation

Reception room, two bedrooms, kitchen and bathroom. GIA approximately 68.93 sq m (742 sq ft).

Location

Located on the north east side of Moorland Road. The shops and amenities of St Austell are to the north east. St Austell rail station (CrossCountry and GWR) is approximately 0.6 miles to the north east. The A390 is to the south. Porthpean Beach is to the south east.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-road leasehold flat sale at £65,000 on 10 February 2025. The £100,000 sale from 2007 is materially historic and is not relied upon as a current valuation indicator. A provisional base GDV of £65,000 is therefore used, subject to inspection, specification and confirmation that the comparable is sufficiently similar.

Investment Snapshot

Strategy Recommendation

Proceed only if due diligence confirms the flat's condition, legal title, lease terms and total costs. The low guide relative to the recent same-road sale is potentially attractive, but the evidence is insufficient to set a reliable maximum bid or confirm a BTL, BRRR or flip strategy.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and only undertake works confirmed as necessary, potentially including general redecoration or repairs if identified, but no cost allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £65,000 GDV, a 75% refinance would be approximately £48,750. Total acquisition and works costs cannot be calculated because refurbishment, buyer/admin fees and other charges are not supplied. BRRR viability therefore remains unconfirmed.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The flat is vacant and has a new 990-year lease at a peppercorn ground rent, but buyer costs, operating costs and achievable rent remain unknown.

Flip Analysis

The provisional £65,000 GDV is supported primarily by the February 2025 same-road sale. A flip appraisal cannot be completed because works, acquisition costs, selling costs and any supported resale allowance are unavailable.

Investor Risks & Due Diligence

• No supported achievable rent or yield evidence.

• No condition or refurbishment cost evidence.

• Buyer premium, admin charge and other possible charges are unspecified.

• The £65,000 GDV relies mainly on one comparable sale and remains subject to similarity and inspection.

• Leasehold legal, service charge and management details are not supplied despite the new 990-year lease.

Recommendation

Proceed only if due diligence confirms the flat's condition, legal title, lease terms and total costs. The low guide relative to the recent same-road sale is potentially attractive, but the evidence is insufficient to set a reliable maximum bid or confirm a BTL, BRRR or flip strategy.

Strategy Rating

Analysis Confidence

One relevant recent same-road sale supports a provisional GDV, but there is no condition report, rent evidence, buyer/admin fee information, EPC, council tax, parking or heating information, and the second comparable is historic.