89 Compair Crescent, Ipswich, Suffolk, IP2 0EJ

Description

Two bedroom apartment with permit parking close to Ipswich train station and town centre. The property offers well-proportioned accommodation, comprising a welcoming entrance, a spacious reception room providing ample space for both living and dining, and a kitchen. There are two good sized double bedrooms, with the master bedroom benefiting from an en-suite shower room, in addition to a separate family bathroom. Further benefits include residents’ parking and access to maintained communal gardens.

Accommodation

Welcoming entrance, spacious reception room with living and dining space, kitchen, two good sized double bedrooms, en-suite shower room to the master bedroom, and separate family bathroom.

Location

Ideally situated for easy access to Ipswich town centre and the popular Ipswich Waterfront, providing an excellent selection of bars, restaurants and attractive riverside amenities. Ipswich railway station is easily accessible, offering regular services to London Liverpool Street and a range of other destinations.

Tenure / Property Information

Investment Analysis

Completed sales on the same crescent range from £85,000 to £140,000, with two recent 2025 sales at £135,000 and £45,000. The £45,000 sale is a significant outlier and the evidence does not provide size, condition or specification details for direct adjustment. A supported scenario range is £85,000–£140,000, with £130,000 used as the base GDV based on the £130,000 and £135,000 comparable evidence. The £80,000 guide is materially below most of the supplied same-street evidence, subject to legal-pack review and any undisclosed property issues.

Investment Snapshot

Strategy Recommendation

Investigate as a buy-to-let or BRRR purchase, subject to legal-pack review, leasehold lenderability, service-charge accounts and an independent valuation. Do not bid solely on the headline GDV spread; confirm the £45,000 comparable and all additional auction charges before setting a bid limit.

Works Required

No refurbishment defects or required works are evidenced. Allow for inspection, cleaning and any minor presentation works only if confirmed, but no numeric works allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £80,000 guide, known acquisition costs total £82,700 before any additional legal-pack charges, finance, tax or works. At the £130,000 base GDV, 75% refinance is £97,500, theoretically exceeding these known costs by £14,800 before refinance costs and other liabilities. The result is attractive on paper but depends on the property achieving the base valuation, lender acceptance of the leasehold and service-charge profile, and confirmation of all lease and auction costs.

Buy-to-Let Analysis

Using the directly relevant same-street advertised rent of £850 pcm gives annual gross rent of £10,200 and a 12.75% gross yield on the £80,000 guide, or 12.33% on the guide plus the stated £1,500 buyer premium and £1,200 admin charge. The £2,177.33 annual service charge and £200 ground rent materially reduce net returns. The £1,100 pcm evidence is a broader Ipswich asking-rent indicator and is not treated as achieved rent. Mortgage costs, voids, management, maintenance and other legal-pack charges are not supplied.

Flip Analysis

Using the £130,000 base GDV against the £80,000 guide and £2,700 stated buyer/admin charges leaves £47,300 before selling costs, finance, tax, legal-pack charges and any works. A formal flip surplus cannot be established because no selling allowance, finance cost or refurbishment budget is supplied. The wide comparable range creates valuation risk.

Investor Risks & Due Diligence

• Same-street completed sales vary substantially from £45,000 to £140,000, creating material valuation uncertainty.

• The annual service charge is £2,177.33 and ground rent is £200, reducing net rental returns.

• Lease terms, ground-rent review provisions and service-charge review provisions require legal-pack confirmation.

• Additional search fees, seller costs, legal fees, transfer fees and other special-condition charges may apply.

• Advertised rents are not achieved or passing rents.

• No condition inspection or refurbishment budget is supplied.

• Theoretical refinance figures depend on lender valuation and leasehold lending criteria.

Recommendation

Investigate as a buy-to-let or BRRR purchase, subject to legal-pack review, leasehold lenderability, service-charge accounts and an independent valuation. Do not bid solely on the headline GDV spread; confirm the £45,000 comparable and all additional auction charges before setting a bid limit.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale and rental evidence, but comparable property specifications, condition, passing rent, refurbishment requirements, selling costs, finance costs and full auction charges are not supplied.