99 Sirius, 6 The Boardwalk, Brighton Marina, Brighton

Description

A two bedroom sixth floor flat, approximately 849 sq ft. Presented in good condition. The flat forms part of a purpose built block and benefits from a private balcony.

Accommodation

Sixth Floor - Kitchen/Lounge, Two Bedrooms, Bathroom/WC, Shower Room/WC. Balcony.

Location

Located on The Boardwalk, accessed off Marina Way and The Waterfront. A variety of shops, restaurants and bars are available closeby in the centre of Brighton. The recreational amenities of Brighton Beach and East Brighton Park is closeby. Road links via the A27. Transport Brighton Railway Station - National Rail.

Tenure / Property Information

Investment Analysis

The latest supplied completed sale is £340,000 for a leasehold flat in the same Brighton Marina Boardwalk development, dated May 2024. An older 2022 sale reached £405,000, but the evidence does not confirm the comparable units' size, floor, views, condition or exact similarity to 99 Sirius. A cautious base GDV of £340,000 is therefore used, with £340,000 to £405,000 as the evidence-supported scenario range.

Investment Snapshot

Strategy Recommendation

Consider as a BTL-led purchase only if the tenancy, lease, service charge, ground rent and actual rent are verified. Do not rely on the nominal BRRR or flip figures without those costs and a more directly comparable valuation.

Works Required

The flat is described as being in good condition, so no refurbishment allowance is included. Allow for standard inspection, cleaning and preparation only if required; no specific defects or upgrade works are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £250,000 guide, no refurbishment allowance and no supplied purchase costs, the indicative total cost is £250,000. A 75% refinance against the £340,000 base GDV would be £255,000, leaving a nominal £5,000 surplus before finance, tax and other costs. Missing lease and building-cost information makes the refinance outcome uncertain.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,950 pcm, equivalent to £23,400 annually. Against the £250,000 guide and with no works or buyer/admin costs supplied, the gross yield is 9.36%. This is only an asking-rent assessment; service charge, ground rent, council tax, EPC, lease length and other letting costs are unknown, so net yield and affordability cannot be established.

Flip Analysis

Against the £340,000 base GDV, the nominal surplus over the £250,000 guide and zero works allowance is £90,000 before selling costs, finance, tax and any buyer costs. No supported selling allowance is provided, so a formal flip surplus is not calculated. The valuation range is also based on different units in the development.

Investor Risks & Due Diligence

• The property is leasehold, but lease length, ground rent and service charge are not supplied.

• Occupancy is stated as let, but the tenancy terms, passing rent, deposit and arrears position are not provided.

• The £1,950 pcm figure is an advertised asking rent rather than achieved or confirmed passing rent.

• Comparable sales relate to Orion 9 rather than the subject flat, with no evidence of matching size, floor, outlook, condition or balcony characteristics.

• Buyer premium, administration charge and other auction costs are not supplied.

• EPC, council tax, parking and heating information are not supplied.

• The indicative refinance calculation excludes finance costs, tax and any purchase or disposal costs.

Recommendation

Consider as a BTL-led purchase only if the tenancy, lease, service charge, ground rent and actual rent are verified. Do not rely on the nominal BRRR or flip figures without those costs and a more directly comparable valuation.

Strategy Rating

Analysis Confidence

There is useful same-development sold-price evidence and one advertised rental, but the comparables are different units and key lease, tenancy, service-charge, ground-rent, EPC and auction-cost information is missing.