Apartment 112 New Bank House, 100 Queen Street, Sheffield, South Yorkshire, S1 2FA

Description

A First Floor One Bedroom Flat Subject to a Periodic Tenancy Producing £7,800 Per Annum. The property comprises a first floor one bedroom flat situated within a corner building arranged over ground and twelve upper floors.

Accommodation

First Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of South Street Park are within easy reach. Transport links are provided by Sheffield rail station.

Tenure / Property Information

Investment Analysis

Five completed sales in the same building range from £42,000 to £82,000, with a median of £51,000. The evidence is not unit-specific and the variation is material, so £51,000 is used as the base GDV, with £42,000 low and £82,000 high scenarios. The current rent is £7,800 per annum (£650 pcm), while external rental evidence is advertised asking rent of £600–£795 pcm and is not achieved-rent evidence.

Investment Snapshot

Strategy Recommendation

Potential income-led BTL with BRRR upside, subject to legal-pack review, tenancy verification, leasehold charges and confirmation that the valuation supports refinancing. Do not rely on the apparent margin for a flip without verified costs and unit-specific evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance for works is therefore not estimated. Verify condition, tenancy documentation, service charges, ground rent and lease terms through the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the assumed £10,000 guide midpoint and with no works allowance included, total known cost is £11,800. A 75% refinance against the £51,000 base GDV would be approximately £38,250, implying indicative cash left in of £26,450 before finance, tax and any other costs. The outcome depends materially on lender valuation, leasehold costs, tenancy acceptability and the achievable valuation.

Buy-to-Let Analysis

Using the current passing rent of £7,800 per annum and the £10,000 midpoint of the guide range, gross yield is approximately 78.0%. Including the known £1,800 administration charge, gross yield is approximately 66.1%. These figures exclude finance, service charges, ground rent, insurance, maintenance, voids and taxation. The external rental evidence is asking-rent evidence only.

Flip Analysis

The base GDV of £51,000 materially exceeds the assumed £11,800 purchase plus known-cost figure, but no selling-cost allowance, finance cost, refurbishment allowance or tax has been supplied. A reliable flip surplus is therefore not calculated. The wide range of same-building sales creates significant resale-value uncertainty.

Investor Risks & Due Diligence

• Same-building sold prices range materially from £42,000 to £82,000 and are not confirmed as identical units.

• The property is subject to a periodic tenancy; tenancy terms, tenant status and rent payment history are not supplied.

• Leasehold service charge, ground rent, insurance and other lease obligations are unknown.

• Additional disbursements, legal fees, transfer fees or other special-condition charges may be payable.

• Rental comparables are advertised asking rents rather than achieved rents.

• No condition survey or refurbishment specification is provided.

• Finance, refinancing and valuation outcomes are not guaranteed.

Recommendation

Potential income-led BTL with BRRR upside, subject to legal-pack review, tenancy verification, leasehold charges and confirmation that the valuation supports refinancing. Do not rely on the apparent margin for a flip without verified costs and unit-specific evidence.

Strategy Rating

Analysis Confidence

There are five same-building completed sales and a stated passing rent, but the sales vary substantially, are not confirmed as identical units, and key leasehold, condition, buyer-cost and tenancy details are unavailable.