Flat 1, 19A Queen Street, Ipswich, Suffolk, IP1 1SW

Description

Presented in excellent decorative order throughout, this first floor rear flat features two bedrooms, two bathrooms and a spacious open-plan lounge/diner/kitchen. The property is to be sold with a tenant in situ paying a rent of £995pcm (£11,940 per annum).

Accommodation

Gated entrance leads to the rear of the building; communal entrance lobby with stairs rising to first floor landing; private entrance door to entrance hall with walk-in storage cupboard and further cupboard housing the wall-mounted boiler; open-plan lounge/diner/kitchen: 20'1 x 18'3 reducing to 16'3; bedroom one: 11'2 maximum reducing to 10'3 x 8'3 with door to en-suite shower room: 7'4 x 5'7; bedroom two: 11'3 maximum reducing to 10'3 x 8'5; bathroom/WC: 7'7 x 7'2.

Location

Central location

Tenure / Property Information

Investment Analysis

The latest supplied sale for the same address was £158,000 in November 2022, with an earlier sale at £144,000. A same-street flat sold for £175,000 in October 2025. On the supplied evidence, £158,000 is used as the base GDV, with £144,000–£175,000 as an evidence-supported range. The comparables are limited and partly historic, and no formal valuation, service-charge information or EPC is supplied.

Investment Snapshot

Strategy Recommendation

Consider as a rent-led purchase if the tenancy, lease, service charges and auction fees are satisfactory. Do not rely on the apparent refinance or resale margin until those unknown costs and the valuation are verified.

Works Required

No refurbishment works are evidenced: the flat is described as being in excellent decorative order. Allowance is therefore £0 for the supplied calculation, subject to inspection and verification of the tenant, lease and communal areas.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £158,000 base GDV and no evidenced refurbishment allowance, 75% refinance is £118,500. This exceeds the £110,000 guide by £8,500 before the unspecified auction fees and finance costs. The result depends on lender valuation, loan terms, tenancy documentation and the property’s full running costs.

Buy-to-Let Analysis

At the £110,000 guide, the stated passing rent of £995 pcm produces £11,940 per annum and a headline gross yield of 10.85%. This is based on passing rent rather than external achieved-rent evidence. Actual net returns cannot be calculated because buyer fees, service charges, insurance, management, maintenance and other property costs are not supplied.

Flip Analysis

At the guide and with no evidenced works, the base GDV implies £48,000 of gross value uplift before auction fees, finance, tax and selling costs. A reliable flip surplus cannot be calculated because no selling allowance or complete purchase-cost schedule is supplied. The tenant in situ may also affect resale strategy and timing.

Investor Risks & Due Diligence

• Buyer and administration fees are unspecified; the auctioneer states that the lot is sold plus fees.

• The tenant is in situ, but tenancy terms, deposit, arrears position and compliance information are not supplied.

• No service-charge, insurance, maintenance or communal-building cost information is provided.

• Rental evidence is limited to the stated passing rent, with no sufficiently specific external rental comparable.

• The base GDV relies on a same-address sale from 2022; the high scenario uses a different flat on Queen Street.

• No EPC, council-tax, parking or heating information is supplied.

• The apparent refinance surplus is before unspecified fees and depends on lender valuation and loan terms.

Recommendation

Consider as a rent-led purchase if the tenancy, lease, service charges and auction fees are satisfactory. Do not rely on the apparent refinance or resale margin until those unknown costs and the valuation are verified.

Strategy Rating

Analysis Confidence

The property has a stated passing rent, long lease and several relevant sold comparables, including two for the same address. Confidence is reduced by the lack of quantified buyer fees, service charges, EPC, tenancy details, external rental comparables and current formal valuation.