Apt. 602 Horizon House, Sunderland, Tyne and Wear, SR1 1HS

Description

An excellent opportunity for investors to acquire this sixth-floor studio apartment within the popular Horizon House development in Sunderland city centre. The property is currently let at £500 per calendar month, producing a passing rental income of £6,000 per annum, providing an immediate income stream from completion. The accommodation extends to approximately 16 sq m and comprises an entrance hall, bathroom with shower, fitted kitchen area and an open-plan lounge/bedroom. The apartment benefits from a large window frontage providing plenty of natural light. Horizon House is conveniently positioned within Sunderland city centre, providing easy access to a wide range of shops, bars, restaurants and transport connections, making the development popular with tenants. An affordable, ready-made investment opportunity which should appeal to landlords looking to add an income-producing property to their portfolio.

Accommodation

Approximately 16 sq m comprising an entrance hall, bathroom with shower, fitted kitchen area and an open-plan lounge/bedroom. Large window frontage providing plenty of natural light.

Location

Horizon House is positioned within Sunderland city centre, with access to shops, bars, restaurants and transport connections.

Tenure / Property Information

Investment Analysis

Completed sales in Horizon House range from £15,000 to £66,500, with a £15,000 sale on 7 January 2025, £18,500 on 10 October 2025 and £66,500 on 14 January 2026. The evidence is highly variable and does not identify the comparable unit specifications. A base GDV of £18,500 is therefore used, with £15,000 low and £66,500 high scenarios. The £15,000 upper-guide purchase figure is used for cost calculations. The £3,600 administration charge is included; other possible fees are not quantified.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-led BTL purchase if the tenancy, lease, service charges and all completion fees are verified. The passing rent is attractive relative to the guide, but the uncertain leasehold costs and inconsistent comparable evidence make aggressive bidding or a flip strategy unsuitable.

Works Required

No refurbishment works are identified in the supplied description. The apartment is described as ready-made and currently let. Allowance is therefore £0, subject to inspection and review of the lease and management information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £18,500 base GDV, 75% refinance is estimated at £13,875. Against the £18,600 purchase-plus-known-cost base, this leaves indicative cash left in of £4,725 before finance, tax and any unquantified fees. The result is highly sensitive to the wide range of Horizon House sales and the absence of lease and service-charge information.

Buy-to-Let Analysis

At the £15,000 upper guide, the passing rent of £500 pcm produces £6,000 annually and a 40.0% gross yield before costs. Including the known £3,600 administration charge, gross yield on the £18,600 base cost is 32.3%. A £550 pcm Sunderland asking-rent listing provides supporting market context but is not an achieved rent. Service charges, ground rent, insurance, management, voids, tax and other auction fees are not supplied, so net yield cannot be established.

Flip Analysis

At the £15,000 upper guide plus the known £3,600 administration charge, the base cost is £18,600 before works and other fees. Against the £18,500 base GDV, there is no apparent surplus before selling, finance, tax and unknown costs. No supported selling-cost allowance is available, so a formal flip surplus is not calculated.

Investor Risks & Due Diligence

• Lease term and other lease provisions are not supplied.

• Service charge, ground rent, insurance and management costs are not supplied.

• Additional search, seller-cost reimbursement, legal, transfer, buyer-premium and disbursement charges may apply but are unquantified.

• Completed Horizon House sales range widely from £15,000 to £66,500, creating substantial GDV uncertainty.

• The property is approximately 16 sq m and the current tenancy terms beyond the £500 pcm passing rent are not supplied.

• The £550 pcm rental evidence is an advertised asking rent rather than an achieved rent.

Recommendation

Consider only as a cautious income-led BTL purchase if the tenancy, lease, service charges and all completion fees are verified. The passing rent is attractive relative to the guide, but the uncertain leasehold costs and inconsistent comparable evidence make aggressive bidding or a flip strategy unsuitable.

Strategy Rating

Analysis Confidence

The passing rent, exact development and several completed sales are supplied, but comparable values vary materially and key leasehold, tenancy, service-charge and additional-fee information is missing.