Basement Flat, 76a Lansdowne Place, Hove, BN3 1FH

Description

Renovated lower ground floor 2-bedroom flat. The self-contained flat within a period conversion comprises 2 bedrooms, one with ensuite, living room with adjacent kitchen separated by Crittall-style doors, and a cloakroom. The property has the benefit of a private patio space.

Accommodation

Living Room - 4.4 x 3.1; Kitchen - 4.5 x 1.8; Bedroom 1 - 4.4 x 4; Bedroom 2 - 4.2 x 2.9; Bathroom; Ensuite. Total floor area: 78 sq.m. (taken from EPC).

Location

Located on Lansdowne Place within the Brunswick Town Conservation Area, with multiple local amenities and Hove beach close by. Brighton City Centre is approximately 0.9 miles northwest and Hove mainline station approximately 0.8 miles northwest. Gatwick Airport is approximately 22 miles away. What3Words: track.spicy.sings.

Tenure / Property Information

Investment Analysis

Same-street sold evidence ranges from £250,000 to £422,500, but property size, condition and lease terms are not provided for comparison. A base GDV of £330,000 is used, with £250,000 low and £360,000 high scenarios. The approximately 57-year lease is a material value and mortgageability risk.

Investment Snapshot

Strategy Recommendation

Proceed only at a price reflecting the short lease and after legal, lender and lease-extension due diligence. BTL may work on headline rent, but BRRR and resale are materially exposed to lease restrictions.

Works Required

No specific works are evidenced. The flat is described as renovated; £0 refurbishment allowance is used, subject to inspection and legal-pack review.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £250,000 purchase and £0 works allowance, estimated base cost including the £2,500 administration fee is £252,500. A 75% refinance of the £330,000 base GDV is £247,500, leaving approximately £5,000 unrecovered before finance, tax and other costs. The 57-year lease creates significant refinance risk.

Buy-to-Let Analysis

Using the single £1,300 pcm advertised asking rent, gross yield is 6.24% on the guide and 6.18% including the 1% administration fee. This excludes service charge, finance, maintenance, voids, legal costs and ground rent. The short remaining lease may restrict lending and tenant demand; achieved rent is unverified.

Flip Analysis

Base GDV of £330,000 less the £252,500 base acquisition cost implies £77,500 before selling costs, finance, tax and any works. No supported selling-cost allowance is available, so a reliable flip surplus cannot be established.

Investor Risks & Due Diligence

• Approximately 57 years remain on the lease, potentially limiting mortgageability, refinancing and resale.

• Ground rent is £100 per annum and doubles every 25 years.

• Rental evidence is one advertised asking rent, not an achieved rent.

• Service charge, legal-pack disbursements, selling costs and other property costs are unknown.

• Comparable property sizes, conditions and lease terms are not provided.

Recommendation

Proceed only at a price reflecting the short lease and after legal, lender and lease-extension due diligence. BTL may work on headline rent, but BRRR and resale are materially exposed to lease restrictions.

Strategy Rating

Analysis Confidence

There is useful same-street sold evidence and one rental listing, but comparable specifications, service charges, selling costs, lease-extension cost and achieved rent are unavailable.