Apartment 117 New Bank House, 100 Queen Street, Sheffield, South Yorkshire, S1 2FA

Description

A First Floor One Bedroom Flat Subject to a Periodic Tenancy Producing £7,195 Per Annum.

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

Completed sales in the same building range from £42,000 to £69,000 in 2024, with an older £82,000 sale in 2022. A base GDV of £55,000 is used, with £42,000 low and £69,000 high scenarios. Exact flat attributes, condition, service charges and the comparable units' tenancy status are not supplied, so this is an indicative range only.

Investment Snapshot

Strategy Recommendation

Potential income-led BTL, subject to legal-pack review, tenancy verification, service-charge and ground-rent checks, and confirmation that the flat and lease support the comparable values. Do not rely on the apparent BRRR or flip margin without valuation and cost evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and only undertake legally and practically necessary works confirmed by the legal pack or survey. The EPC is currently rated C.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £15,000 upper guide and £1,800 known administration charge, the indicative total cost before works and other fees is £16,800. A 75% refinance against the £55,000 base GDV would be approximately £41,250, implying £24,450 cash released before finance, tax and refinancing costs. This is highly dependent on lender valuation, lease and tenancy acceptability, service charges, condition and actual purchase price.

Buy-to-Let Analysis

At the £15,000 upper guide, the stated periodic tenancy income of £7,195 per annum equates to a 47.97% gross yield before costs, or 42.83% including the £1,800 administration charge. The £520 pcm figure is an advertised rental asking price, not achieved rent. Service charges, ground rent, management, maintenance, voids, taxes and legal-pack disbursements are not supplied, and the tenancy should be verified.

Flip Analysis

The evidence indicates a base GDV of £55,000, but no refurbishment allowance, selling costs, finance costs or complete buyer disbursements are supplied. A reliable flip surplus and maximum bid therefore cannot be calculated. The apparent margin against the upper guide is not a formal valuation or guaranteed resale profit.

Investor Risks & Due Diligence

• The property is subject to a periodic tenancy and the tenancy terms, tenant status and arrears position are not supplied.

• The £1,800 administration charge is known, but buyer premium, legal-pack disbursements and other acquisition costs are not quantified.

• Service charge and ground rent information is absent.

• The comparable sales vary materially from £42,000 to £69,000 in 2024, and unit-specific details are unavailable.

• No condition survey or refurbishment cost evidence is provided.

• The £520 pcm rental figure is an advertised asking rent, while the £7,195 annual figure is stated tenancy income; neither establishes future achievable net rent.

• Refinance proceeds depend on lender criteria and valuation and are not guaranteed.

Recommendation

Potential income-led BTL, subject to legal-pack review, tenancy verification, service-charge and ground-rent checks, and confirmation that the flat and lease support the comparable values. Do not rely on the apparent BRRR or flip margin without valuation and cost evidence.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and stated passing rent, but the exact comparable units, flat condition, service charges, ground rent, tenancy terms, disbursements and final purchase price are unavailable.