Apartment 2107, Bridgewater Place, Water Lane, Leeds, West Yorkshire

Description

This 21st floor, EWS1 compliant studio apartment is offered for sale via traditional auction. The property requires some minor cosmetic works to bring the apartment up to standard. Bridgewater Place was completed in 2007 and comprises 200 apartments across 30 stories.

Accommodation

21st Floor: lounge/kitchen area, sleeping area and shower room.

Location

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

Tenure / Property Information

Investment Analysis

Same-development completed sales range from £103,000 to £165,000. The comparables do not state floor area, bedroom count or condition, so their relevance to this studio is uncertain. A cautious base GDV of £155,000 is used, with £103,000 low and £165,000 high scenarios; this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, lease costs and condition. The guide appears potentially attractive against same-development sales, but studio-specific value and total costs must be verified before bidding.

Works Required

Minor cosmetic works only, as described by the auctioneer. No detailed schedule or cost evidence is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £59,000 guide, known buyer premium and minimum administration charge total £62,660 before works and other auction costs. A 75% refinance of the £155,000 base GDV would be £116,250, but total project cost and cash left in cannot be calculated without refurbishment and legal-pack costs.

Buy-to-Let Analysis

BTL yield cannot be established. The only rental evidence is an advertised £1,450 pcm for a two-bedroom apartment, which is not directly applicable to this studio. Service charge, ground rent and other ownership costs are not supplied.

Flip Analysis

The evidence indicates a substantial apparent margin between the guide and same-development sales, but no supported works budget, resale costs, legal-pack costs or comparable studio details are available. Flip surplus cannot be calculated reliably.

Investor Risks & Due Diligence

• Comparable sales may not be directly comparable to this studio because size and accommodation details are not supplied.

• No studio-specific rental evidence is provided, so rental yield is unquantified.

• Refurbishment costs are unspecified despite the stated need for cosmetic works.

• Leasehold service charge, ground rent and other lease terms are not supplied.

• Special-condition legal, search, seller-cost and transfer-fee disbursements may be payable.

Recommendation

Proceed only after reviewing the legal pack, lease costs and condition. The guide appears potentially attractive against same-development sales, but studio-specific value and total costs must be verified before bidding.

Strategy Rating

Analysis Confidence

Same-building sold evidence and auction fees are available, but the comparables lack size and bedroom details, rent evidence is for a two-bedroom unit, and works and leasehold costs are unspecified.