Apartment 902 Horizon House, Sunderland, Tyne and Wear, SR1 1HS

Description

An excellent opportunity to acquire a ninth-floor studio apartment within the established Horizon House development in Sunderland, offering impressive elevated views across the city and towards the coastline. The accommodation extends to approximately 16 sq m and is cleverly arranged to maximise the available space. Internally, the apartment comprises an entrance hallway, modern shower room, fitted kitchenette and an open-plan living/bedroom area. The main living space benefits from an extensive wall of windows, providing plenty of natural light alongside the superb far-reaching views towards the sea. The kitchenette is fitted with a range of contemporary dark units, work surfaces, sink and cooking facilities, whilst the shower room is finished with modern grey tiling and includes a WC, wash hand basin, shower enclosure and heated towel rail. Situated within Horizon House, the property is conveniently positioned for Sunderland city centre and its wide range of shops, amenities, transport connections and leisure facilities. Offered on a leasehold basis, this compact apartment represents an attractive opportunity for investors seeking an affordable addition to their portfolio, with the elevated ninth-floor position and coastal outlook providing particular appeal. Tenure: Leasehold Floor: Ninth Floor Approximate Floor Area: 16 sq m (as per floor plan) An ideal investment opportunity in a well-established city centre development with impressive panoramic views. Tenure: Leasehold EPC Rating: C

Accommodation

A full room schedule was not reliably extracted from the supplied scrape. Confirm accommodation and floor areas from the auctioneer particulars and inspection.

Location

Located in Sunderland, Tyne and Wear. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Review complete building/property condition

• Electrical and heating inspection

• Allow for decoration and repairs where required

• Review service charge and major-works liabilities

Rental & Market Context

HB screening rent is approximately £50–£50 pcm (£600–£600 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £3,750–£4,500 against purchase + works of approximately £10,000–£17,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-12,000–£-4,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

• Confirm lease term, ground rent, service charge and major works

Recommendation

Initial recommendation: Buy-to-Let. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• Buy-to-Let: ★★★★☆

• BRRR: ★★★☆☆

• Flip: ★★★☆☆