9 Village Close, Bexhill-on-Sea, East Sussex

Description

A ground floor flat forming part of a purpose built block comprising of 4 flats. Presented in reasonable decorative order. Private lock-up Garage and off-street parking. Communal gardens. Conveniently located for the amenities of Bexhill-on-Sea.

Accommodation

Ground Floor: Reception Room, Two Bedrooms, Kitchen, Bathroom/WC

Location

Located near to the junction of Barnhorn Road and Village Close. An extensive range of shopping facilities are easily accessible in the centre of Bexhill. The sea front provides a range of recreational amenities. Transport: National Rail - Collington, Bexhill.

Tenure / Property Information

Investment Analysis

The supplied HM Land Registry evidence comprises five historic leasehold flat sales in the same Village Close, including the subject at £125,000 in 2015 and other flats at £145,000 in 2016 and £160,000 in 2018. These support an evidence-led historic GDV range of £125,000–£160,000, with £145,000 used as the base indication. No current comparable, EPC, service charge, ground rent, rent or detailed condition evidence is supplied, so this is not a formal current valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to verification of the tenancy, rent, lease liabilities, service charges, ground rent and all auction fees. At the £100,000 guide, the historic GDV evidence suggests potential headroom, but the absence of current valuation, rent and cost data means bidding should be conservative.

Works Required

No specific refurbishment works are evidenced. The flat is described as being in reasonable decorative order. Confirm condition, statutory compliance, lease terms, service charges, ground rent and any tenant-related obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base evidence-led GDV of £145,000, a theoretical 75% refinance is approximately £108,750. However, refurbishment costs, purchase costs, finance costs and rental income are unsupported, so cash left in and the viability of a BRRR strategy cannot be calculated.

Buy-to-Let Analysis

The flat is occupied and let on a periodic tenancy, but no passing rent or reliable rental evidence is supplied. Rental yield, coverage and cash flow therefore cannot be established. The unspecified buyer fee, possible VAT and any seller or other special-condition charges also prevent a reliable total-cost assessment.

Flip Analysis

Historic same-block sales support an indicative GDV range of £125,000–£160,000, with £145,000 as the base case. A flip surplus cannot be calculated because refurbishment costs, buyer fees, VAT, selling costs and other project costs are not supplied. The comparable evidence is also dated 2015–2018.

Investor Risks & Due Diligence

• Historic comparable evidence may not represent current market value.

• No passing rent or sufficiently specific rental evidence is supplied.

• The buyer fee amount is unspecified and VAT may apply to the sale price.

• Seller's charges and other special-condition costs may apply.

• Occupied periodic tenancy requires verification of rent, terms, compliance and possession position.

• No service charge, ground rent or detailed lease-cost information is supplied.

• No refurbishment budget or detailed inspection evidence is supplied.

Recommendation

Proceed only subject to verification of the tenancy, rent, lease liabilities, service charges, ground rent and all auction fees. At the £100,000 guide, the historic GDV evidence suggests potential headroom, but the absence of current valuation, rent and cost data means bidding should be conservative.

Strategy Rating

Analysis Confidence

There are several same-close completed sales and clear tenure and occupancy information, but the sales are dated and there is no current valuation, rent, EPC, service charge, ground rent, condition budget or complete auction fee schedule.