Apartment 2001, Bridgewater Place, Water Lane, Leeds, West Yorkshire

Description

This 20th floor, EWS1 compliant 1 bedroom apartment is offered for sale via traditional auction. The property requires some minor cosmetic works to bring the apartment up to standard. Bridgewater Place completed in 2007, comprises 200 apartments across 30 stories and offers Leeds city centre views. The development has an on-site concierge.

Accommodation

Twentieth floor: lounge/kitchen area, bedroom and shower room.

Location

Bridgewater Place is located south of Leeds city centre. Leeds train station, city centre shopping, restaurants and bars are a short walk away.

Tenure / Property Information

Investment Analysis

Same-building sold evidence ranges from £103,000 to £165,000. The four 2025 sales cluster at £155,000–£165,000, supporting a base GDV of £160,000, but flat size and specification are not supplied. The £103,000 sale provides a lower evidence-supported scenario.

Investment Snapshot

Strategy Recommendation

Potentially attractive BTL/BRRR opportunity at the guide, subject to satisfactory leasehold information, legal pack review and confirmation of achievable rent. Do not bid to an undefined maximum without full costs.

Works Required

Minor cosmetic works to bring the apartment up to standard. No detailed scope or cost allowance is provided.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, known acquisition costs total £78,780 before works and unknown disbursements. A 75% refinance of the £160,000 base GDV is £120,000, indicating £41,220 theoretical cash released before finance, tax and refurbishment costs. Actual viability depends heavily on leasehold charges and lender valuation.

Buy-to-Let Analysis

Using the directly comparable Bridgewater Place asking rent of £1,000 pcm, annual rent is estimated at £12,000. This represents a 16.00% gross yield on the £75,000 guide and 15.23% on the guide plus known buyer premium and minimum admin charge. Service charge, ground rent and other auction disbursements are unknown, so net yield cannot be assessed.

Flip Analysis

A £160,000 base GDV indicates substantial headline margin against the £75,000 guide, but refurbishment costs, selling costs, finance costs and unknown disbursements are not available. A reliable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Ground rent and service charge are unknown.

• Special-condition fees, legal costs and other disbursements may be payable.

• Rental figures are advertised asking rents, not achieved rents.

• Comparable flat sizes and specifications are not supplied.

• Leasehold ownership creates ongoing landlord and management-cost exposure.

Recommendation

Potentially attractive BTL/BRRR opportunity at the guide, subject to satisfactory leasehold information, legal pack review and confirmation of achievable rent. Do not bid to an undefined maximum without full costs.

Strategy Rating

Analysis Confidence

Good same-building sale evidence and rental asking evidence are available, but service charge, ground rent, detailed works costs, flat-specific comparable details and other auction disbursements are missing.