Apartment 51, Forum Court, 80 Lord Street, Southport

Description

A wonderful opportunity to acquire this two bedroom fourth floor retirement apartment for those aged 60 and over, offered for sale with the benefit of access to communal reception and dining rooms along with gated access to Lord Street and secure electric gates via King Street leading into the car park.

Accommodation

Entrance hallway with two storage cupboards; W.C.; Bedroom One with fitted wardrobes; Bedroom Two with fitted wardrobes; Shower room; Lounge; Kitchen.

Location

The property is situate in Forum Court, in the heart of Southport town centre, giving convenient access to the local area and the wide range of facilities and amenities on offer, including access to the town centre, beach and promenade.

Tenure / Property Information

Investment Analysis

Five completed sales at the same building range from £76,000 to £140,000, with a median of £85,000. As the sales are not identified as Apartment 51 and vary materially, £85,000 is used as the base GDV, with £76,000 low and £140,000 high scenarios.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review confirming the age restriction, lease terms, charges and all completion costs. The low guide creates potential value, but missing rental and cost evidence prevents firm investment underwriting.

Works Required

No refurbishment works are evidenced. Allowance excludes any unidentified works, service charges or legal-pack costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £10,000 guide, the known acquisition cost is £13,600 including the £3,600 admin charge, before disbursements and any works. A 75% refinance of the £85,000 base GDV would be £63,750, but finance, valuation, service-charge and legal costs are unknown.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is restricted to occupants aged 60 and over, limiting the tenant pool.

Flip Analysis

The evidence indicates substantial theoretical value above the guide, but the comparable sales are not confirmed as Apartment 51 and no selling-cost allowance is supplied. A reliable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Age restriction to purchasers or occupiers aged 60 and over

• Leasehold obligations and potentially material communal charges are not supplied

• Additional disbursements and seller costs may be payable under the special conditions

• No sufficiently specific rental evidence is available

• Same-building comparable prices vary materially and are not identified as Apartment 51

Recommendation

Proceed only subject to legal-pack review confirming the age restriction, lease terms, charges and all completion costs. The low guide creates potential value, but missing rental and cost evidence prevents firm investment underwriting.

Strategy Rating

Analysis Confidence

Same-building completed sales support a broad GDV range, but the comparables are not unit-specific and rental, condition, service-charge, disbursement and selling-cost evidence is missing.