99 Drake House, Sir Francis Way, Brentwood, Essex, CM14 4TG

Description

Buy to let investment: a leasehold second floor flat close to High Street with tenant in occupation producing an income of £13,200 per annum. A second floor two bedroom apartment with lift and communal parking, located at the bottom of Brentwood High Street, a short walk from Brentwood main line station, with fast links to the city via the newly opened Elizabeth Line. The property has a tenant in occupation producing £1,100 pcm, giving a gross yield of over 9% of the guide price.

Accommodation

Entrance Hall; Lounge/Diner - 14'7 x 14'2; Kitchen - 14'3 x 7'3; Bedroom One - 12'5 x 11'0; Bedroom Two - 11'5 x 7'0; Bathroom; Communal Parking

Location

Located at the bottom of Brentwood High Street, a short walk from Brentwood main line station, with fast links to the city via the newly opened Elizabeth Line.

Tenure / Property Information

Investment Analysis

Same-building Land Registry sales range from £138,250 to £200,000. Using the £187,500 median as a base GDV proxy, the evidence supports a broad £138,250–£200,000 range, subject to differences in condition, lease terms and sale date.

Investment Snapshot

Strategy Recommendation

Consider as a BTL purchase subject to verifying the tenancy, rent, lease, service charges, fees and legal title. Do not rely on BRRR or flipping assumptions without cost evidence.

Works Required

No refurbishment works are evidenced. Verify condition, EPC requirements, lease, communal areas and any required compliance works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £187,500 base GDV proxy would be approximately £140,625. Refurbishment costs, purchase fees and total project cost are unavailable, so cash left in and BRRR viability cannot be established.

Buy-to-Let Analysis

The stated tenant income is £1,100 pcm (£13,200 annually), producing a 9.78% gross yield against the £135,000 guide before fees, finance, tax and operating costs. The investment case depends on rent being verified and on acceptable lease and landlord costs.

Flip Analysis

The evidence indicates a base GDV proxy of £187,500, but no works budget, buying fees or selling allowance is supplied. Flip surplus cannot therefore be calculated reliably.

Investor Risks & Due Diligence

• Only 82 years remain on the lease.

• Buyer and administrative fees are unspecified.

• Tenant, tenancy terms and rent payment history require verification.

• No service charge, ground rent or other leasehold costs are supplied.

• Comparable sales vary materially in price and date.

• EPC is rated D.

Recommendation

Consider as a BTL purchase subject to verifying the tenancy, rent, lease, service charges, fees and legal title. Do not rely on BRRR or flipping assumptions without cost evidence.

Strategy Rating

Analysis Confidence

Same-building completed-sale evidence and stated rent are available, but condition, fees, lease costs, tenancy terms and refurbishment requirements are not supplied.