9 Windsor Court, Windsor Road, Barry, Vale of Glamorgan, CF62 7AP

Description

One bedroom first floor apartment suitable for owner occupation or investment. The 28-unit development benefits from a laundry, gym facilities, a lift to all floors and CCTV monitoring in communal areas.

Accommodation

Ground Floor: Grand communal hallway with a lift to all floors. First Floor: Communal hallway leading to the apartment. Hallway, shower room, open living/dining through to recessed kitchen, bedroom.

Location

Located in the sought-after West End side of Barry, close to bars, eateries, cafes, boutiques and other amenities. Within walking distance of beaches and parks including Barry Island and The Cold Knap. Excellent transport links are available to Cardiff city centre, with good access to the M4 motorway.

Tenure / Property Information

Investment Analysis

The five supplied completed sales at Windsor Court range from £90,000 to £105,000. The median is £95,000, supporting a base GDV of £95,000, with evidence-supported low and high scenarios of £90,000 and £105,000. The comparables are highly relevant because they are in the same development, although the evidence does not confirm identical size, condition, floor or lease terms.

Investment Snapshot

Strategy Recommendation

Potential BTL or owner-occupier purchase, subject to verifying the £850 pcm rent, lease terms, service charge, ground rent, communal costs and all additional auction charges. Do not rely on the headline yield until these items are confirmed.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance is therefore made for no identified works, subject to inspection, lease review and confirmation of communal/service-charge obligations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £95,000 base GDV, a 75% refinance is £71,250. Against the guide, buyer premium and minimum administration charge, with no works allowance, indicative cash left in is £4,750 before finance, tax and other unknown costs. The outcome depends on lender valuation, mortgage terms, lease acceptability and the missing service-charge and other property costs.

Buy-to-Let Analysis

At the supplied advertised asking rent of £850 pcm, annual gross rent is £10,200 and gross yield is approximately 13.97% on the £73,000 guide or 13.42% on the £76,000 guide plus known buyer and administration charges. This is not a net yield: service charge, ground rent, management, maintenance, voids, finance, insurance and other auction costs are not supplied. The rent is a single advertised listing, not achieved rent.

Flip Analysis

The base GDV of £95,000 less the £76,000 purchase-plus-known-cost basis implies £19,000 before selling costs, finance, tax and any works. A reliable flip surplus cannot be established because no selling-cost allowance, condition assessment or full auction-cost schedule is supplied.

Investor Risks & Due Diligence

• The lease began on 01/01/2007 for 99 years, so the remaining term is approximately 79 years as at the analysis date; exact unexpired term should be confirmed.

• Service charge, ground rent and communal maintenance costs are not supplied and could materially reduce net yield and refinancing appeal.

• The £850 pcm figure is an advertised asking rent, not an achieved or guaranteed passing rent.

• Additional search, seller, legal, transfer and other auction charges may apply but are not quantified.

• No inspection or condition evidence is supplied, so unforeseen works cannot be ruled out.

• The comparable sales do not confirm identical apartment size, condition, floor, lease terms or included rights.

Recommendation

Potential BTL or owner-occupier purchase, subject to verifying the £850 pcm rent, lease terms, service charge, ground rent, communal costs and all additional auction charges. Do not rely on the headline yield until these items are confirmed.

Strategy Rating

Analysis Confidence

Same-development completed sales provide useful GDV evidence, but rent is based on one asking listing and there is no condition, service-charge, ground-rent, lease-plan, parking or full-cost evidence.