Apt. 6 Florian Mews, Sunderland, Tyne and Wear, SR4 8PL

Description

This well presented two bedroom second floor apartment represents an excellent opportunity for buyers seeking a property in a convenient location. Situated within the popular Florian Mews development, the property enjoys easy access to Sunderland City Centre, Sunderland Royal Hospital, local shops, supermarkets, restaurants, leisure facilities and a wide range of everyday amenities. The apartment benefits from secure communal entry. Internally, the accommodation has a welcoming entrance hallway with a spacious walk-in storage cupboard, a generous open-plan lounge, dining and modern fitted kitchen, two well sized double bedrooms, with the main bedroom having an en-suite shower room, together with an additional bathroom. Externally, the development offers well maintained communal grounds and the added benefit of a secure allocated parking space. With vacant possession, excellent transport links and strong rental appeal, this is a fantastic opportunity to acquire a well located apartment in a sought after residential development.

Accommodation

Welcoming entrance hallway with a spacious walk-in storage cupboard, open-plan lounge, dining and modern fitted kitchen, two well sized double bedrooms, main bedroom with en-suite shower room, and an additional bathroom.

Location

Situated within the popular Florian Mews development, with easy access to Sunderland City Centre, Sunderland Royal Hospital, local shops, supermarkets, restaurants, leisure facilities and everyday amenities. The property has excellent transport links.

Tenure / Property Information

Investment Analysis

Evidence from the same Florian Mews development ranges from £62,500 to £90,000. The two most recent sales were £62,500 and £67,500, while other sales were £82,000 and £90,000. Given the described well-presented condition, a cautious base GDV of £75,000 is used, with a low scenario of £62,500 and high scenario of £90,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR purchase if secured at or near the £60,000 guide, subject to verification of lease length, service charge, ground rent, legal title and achievable rent. Avoid relying on the high GDV scenario without further valuation evidence.

Works Required

No refurbishment works are identified in the supplied description. Allowance assumes the apartment is acquired in its described well-presented condition; legal, leasehold and general inspection checks remain important.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £60,000 guide plus the £3,600 admin charge, the base cost is £63,600 before any unspecified additional auction or leasehold costs. A 75% refinance against the £75,000 base GDV would be £56,250, leaving an indicative £7,350 in the project before finance, tax and other costs. The outcome depends materially on the achievable valuation, lease terms, service charges and lender criteria.

Buy-to-Let Analysis

Using the £684 pcm advertised SR4 two-bedroom rent as an indicative, not achieved, rent gives annual rent of £8,208. Against the £60,000 guide this indicates 13.68% gross yield, or 12.91% against the £63,600 base cost including the stated £3,600 admin charge. Service charge, ground rent, council tax and finance costs are not supplied, so net yield cannot be assessed.

Flip Analysis

The base GDV is estimated at £75,000 from same-development completed sales. Against the £63,600 guide-based cost, the gross difference is £11,400 before selling costs, finance, tax and any additional auction or legal charges. A formal flip surplus is not calculated because no supported selling-cost allowance or refurbishment budget is supplied.

Investor Risks & Due Diligence

• The £684 pcm figure is an advertised asking rent rather than achieved rent and is not stated to be for this exact apartment.

• Lease length, service charge and ground rent are not supplied.

• Additional auction charges may include searches, seller-cost reimbursement, legal fees and transfer fees.

• The high valuation scenario is based on higher same-development sales and may not reflect this apartment's exact condition or characteristics.

• Net yield and financing returns cannot be confirmed because operating and finance costs are unavailable.

Recommendation

Potential BTL or BRRR purchase if secured at or near the £60,000 guide, subject to verification of lease length, service charge, ground rent, legal title and achievable rent. Avoid relying on the high GDV scenario without further valuation evidence.

Strategy Rating

Analysis Confidence

Same-development completed sales provide useful value evidence, but rent is only an advertised area listing and lease terms, service charges, ground rent, council tax, finance costs and other auction fees are absent.