Apartment 2606, Bridgewater Place, Water Lane, Leeds, West Yorkshire

Description

Leasehold twenty sixth floor flat

Accommodation

Two bedrooms, reception room open plan to kitchen, bathroom/wc

Location

Bridgewater Place is located on Water Lane close to its junction with Victoria Road (A653). A comprehensive range of shops, bars and restaurants can be found locally within Leeds City Centre. Public transport links are available at Leeds Trains Station lying to the north along with a network of local bus services serving the surrounding areas. The property is served by road links including the A653 and the M621 located to the south. Recreational pursuits can be found at Hunslet Moor Park lying to the south.

Tenure / Property Information

Investment Analysis

Five same-building Land Registry comparables range from £103,000 to £165,000. Four sales between £155,000 and £165,000 support a base GDV of £160,000, with £103,000 treated as a lower outlier. The guide is broadly aligned with the stronger comparable evidence. Lease length, service charge, ground rent and review terms remain unknown.

Investment Snapshot

Strategy Recommendation

Consider only as a conditional BTL purchase after reviewing the lease, service-charge and ground-rent documentation, special conditions and physical condition. Do not rely on the headline yield until all leasehold costs are confirmed.

Works Required

No specific repair or refurbishment works are evidenced. Verify physical condition, fixtures, common parts and any building-management issues before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £160,000 purchase price, the indicative 75% refinance of the base GDV is £120,000. Cash left in cannot be calculated because refurbishment, service-charge, ground-rent, seller-fee and other acquisition costs are unknown. The unknown lease terms may materially affect refinanceability and value.

Buy-to-Let Analysis

The advertised asking rent of £1,450 pcm implies £17,400 annual gross rent and 10.88% gross yield against the £160,000 guide. This is not an achieved rent, and net yield cannot be established because service charge, ground rent, lease term and other ownership costs are unavailable. Suitability depends heavily on those leasehold costs and terms.

Flip Analysis

The supported GDV range is £155,000 to £165,000, but refurbishment costs, selling costs and some acquisition costs are unavailable. A reliable flip surplus and maximum bid therefore cannot be calculated. The guide already sits within the recent comparable range.

Investor Risks & Due Diligence

• Lease length is not provided.

• Annual service charge and ground rent are unknown, including review and increase terms.

• The £1,450 pcm figure is an advertised asking rent rather than achieved rent.

• The seller may charge additional completion fees under the Special Conditions of Sale.

• The £103,000 comparable indicates possible variation in value within the building.

• Physical condition and any required works are not evidenced.

Recommendation

Consider only as a conditional BTL purchase after reviewing the lease, service-charge and ground-rent documentation, special conditions and physical condition. Do not rely on the headline yield until all leasehold costs are confirmed.

Strategy Rating

Analysis Confidence

Same-building completed sales and one advertised rental are available, but lease length, service charge, ground rent, condition, refurbishment costs and potential seller fees are not provided.