Apartment 26, 2 Jamaica Street, Liverpool, Merseyside

Description

A two bedroom leasehold apartment comprising hall, open plan lounge/kitchen area with balcony, two bedrooms and bathroom.

Accommodation

Hall; open plan lounge/kitchen area with balcony; bedroom 1; bedroom 2; bathroom. Measurements: lounge/kitchen 3.74m x 6.86m; bedroom 1 2.88m x 3.31m; bedroom 2 2.43m x 2.67m; bathroom 1.94m x 1.97m.

Location

Located just off Wapping (A5036) and a short walk from the Albert Dock and Liverpool One Shopping Centre. Close to several bars, restaurants and other amenities.

Tenure / Property Information

Investment Analysis

Recent completed sales at 2 Jamaica Street range from £90,000 to £100,000, with three clustered sales at £90,000, £95,000 and £96,500. The £45,000 sale at Artesian House is materially lower and may not be directly comparable. A base GDV of £95,000 is supported by the stronger same-address evidence, with a £90,000–£100,000 core scenario range. The analysis uses the £64,000 guide plus the stated £1,500 buyer premium and £3,600 minimum administration charge. No refurbishment condition or works requirement is evidenced.

Investment Snapshot

Strategy Recommendation

Consider as a BTL or BRRR candidate subject to confirming the achieved rental level, service charge, ground rent, lease documentation, valuation and legal costs. Do not rely on the apparent refinance surplus until lender and lease due diligence are complete.

Works Required

No specific repair or refurbishment works are evidenced. Allow for inspection, lease review and any compliance or remedial items identified before exchange; no quantified refurbishment allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £64,000 guide, known purchase costs total £69,100 before any unprovided legal, search, transfer, finance or refurbishment costs. A 75% refinance of the £95,000 base GDV indicates £71,250, potentially exceeding this stated cost basis by £2,150 before finance, tax and other costs. The outcome depends on valuation, lending terms, lease costs and the absence of material works.

Buy-to-Let Analysis

The supplied rental evidence ranges from £750 to £1,130 pcm and consists of advertised asking rents, not achieved rents. This equates to £9,000–£13,560 annual gross rent. Against the £64,000 guide, the indicative gross yield is 14.06%–21.19%; against the guide plus the £1,500 buyer premium and £3,600 administration charge, it is 13.02%–19.62%. Service charge, ground rent, letting costs, finance and maintenance are not supplied, so net yield cannot be established.

Flip Analysis

The base GDV of £95,000 provides a gross spread of £25,900 over the guide, buyer premium and minimum administration charge before selling costs, finance, tax, legal costs and any works. A formal flip surplus cannot be calculated because no supported selling allowance or refurbishment cost is provided.

Investor Risks & Due Diligence

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

• Service charge, ground rent and other leasehold charges are not supplied.

• The £45,000 Artesian House sale is materially below the main same-address comparable range.

• Additional auction costs may include searches, seller costs, legal fees, transfer fees and disbursements.

• No condition survey or quantified refurbishment assessment is provided.

• Refinance depends on lender valuation, loan terms, lease acceptability and affordability assessment.

• Gross yield calculations exclude finance, management, maintenance, voids, tax and other operating costs.

Recommendation

Consider as a BTL or BRRR candidate subject to confirming the achieved rental level, service charge, ground rent, lease documentation, valuation and legal costs. Do not rely on the apparent refinance surplus until lender and lease due diligence are complete.

Strategy Rating

Analysis Confidence

There are several recent same-address completed sales and rental asking evidence, but condition, service charge, ground rent, achieved rent, lease covenants and full acquisition costs are not supplied. One materially lower comparable also increases valuation uncertainty.