9 Greyfriars Court Sadler Road, Coventry, West Midlands, CV6 2PA

Description

2 bedroom first floor apartment requiring improvements. Benefiting from having a single garage in a block with secured access. Located on Sadler Road and Radford Road. Leasehold with 43 years remaining. Ideal investment opportunity.

Accommodation

FIRST FLOOR. Hallway. Lounge: 13 ft 8 in x 9 ft 3 in. Kitchen: 11 ft 3 in x 9 ft 3 in. Bedroom 1: 11 ft 4 in x 9 ft 3 in. Bedroom 2: 11 ft 3 in x 9 ft 3 in. Bathroom.

Location

Located on Sadler Road and Radford Road, Coventry, West Midlands.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £50,000 sale at Greyfriars Court on 27 February 2026. Older sales at the same development range from £74,000 to £85,500, but they are materially less current and may not reflect the present 43-year lease term or condition. A cautious base GDV of £50,000 is therefore used. The £45,000 guide leaves limited headroom before the known buyer premium and administration charge, refurbishment, leasehold costs and any special-condition fees.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after confirming the lease, service charge, ground rent, mortgageability, special-condition costs and a property-specific works quotation; otherwise the short lease and limited base-case margin make this unsuitable for BTL, BRRR or flipping.

Works Required

The auction description only confirms that improvements are required; it does not specify defects or a scope of works. Obtain an inspection and leasehold information before bidding. The EPC is E and the apartment has electric heating, but no specific upgrade cost is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £45,000 guide, the known buyer premium and administration charge add £2,760, before works and other possible special-condition costs. A 75% refinance against the £50,000 base GDV would be approximately £37,500, but total project cost and cash left in cannot be calculated because refurbishment and leasehold costs are unsupported. The short lease may materially restrict refinancing.

Buy-to-Let Analysis

A BTL assessment cannot be established reliably because the only rental evidence is an advertised £1,350 pcm for two-bedroom flats in CV1, not this CV6 property, and there is no auctioneer rent estimate. The 43-year lease, unknown service charge and unknown ground rent also require clarification before assessing mortgageability and net returns.

Flip Analysis

The base GDV is estimated at £50,000 from the most recent same-development sale, leaving only limited margin over the £45,000 guide before the £2,760 known charges, improvements, selling costs and other fees. A flip surplus cannot be calculated without a supported works allowance and selling-cost allowance. The historical £85,500 sale is not sufficiently current to underpin the base case.

Investor Risks & Due Diligence

• Only 43 years remain on the lease, which may restrict mortgageability, resale and refinancing.

• Service charge, service-charge period and ground rent are all unknown.

• The apartment is described as requiring improvements, but no condition survey or works budget is supplied.

• The EPC is E and heating is electric.

• The only rental evidence is an advertised CV1 rent and may not represent achievable rent for this CV6 property.

• Special Conditions of Sale may impose additional search, legal, transfer or seller-cost charges.

• The most recent same-development comparable sold for £50,000, leaving limited margin over the guide and known auction charges.

Recommendation

Do not bid on the current evidence alone. Proceed only after confirming the lease, service charge, ground rent, mortgageability, special-condition costs and a property-specific works quotation; otherwise the short lease and limited base-case margin make this unsuitable for BTL, BRRR or flipping.

Strategy Rating

Analysis Confidence

There are several same-development sold comparables and known auction charges, but current rent, condition/works costs, service charge, ground rent, lease documentation and additional sale costs are unavailable.