Flat 1, 2, Myrtle Street, Southville, Bristol, BS3 1JE

Description

A well-presented ground floor one-bedroom flat in a prime Southville location, suited to first-time buyers or investors. Offered for sale with vacant possession, the flat is presented in move-in condition and benefits from its own private entrance, double glazing and gas central heating.

Accommodation

Open-plan kitchen/living room, double bedroom and modern en-suite shower room. Please refer to the floorplan for approximate room measurements and internal layout.

Location

Located on the corner of Myrtle Street and North Street in the heart of Southville, within easy reach of cafés, restaurants, independent shops, leafy parks and Bristol city centre.

Tenure / Property Information

Investment Analysis

The strongest directly named evidence is 4 Myrtle Street at £212,000 in October 2025 and £200,000 in June 2024. Myrtle Court sales range from £253,000 to £310,000 but their size, specification and exact comparability are not supplied. A cautious base GDV of £212,000 is therefore used, with a supported indicative scenario range of £200,000 to £253,000. The property is described as move-in condition, but no formal valuation or detailed comparable specification is available.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let, subject to independently validating the £1,100 pcm rent, confirming leasehold charges and reviewing the legal pack. Do not bid to a calculated maximum without refurbishment, finance, service-charge and selling-cost evidence.

Works Required

No specific refurbishment works are evidenced. The flat is described as well-presented and in move-in condition. Allow for inspection, legal-pack review and confirmation of leasehold information rather than assuming a refurbishment budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £212,000 base GDV, 75% refinancing equates to an indicative £159,000. This suggests potential refinance capacity above the £125,000 guide, but cash left in cannot be calculated because no refurbishment allowance or complete project-cost information is supplied. Lease terms, lender valuation, leasehold charges and finance costs require confirmation.

Buy-to-Let Analysis

The auctioneer estimates rent at £1,100 pcm, equivalent to £13,200 annually. Against the £125,000 guide, this indicates a gross yield of 10.56%, before the £2,280 buyer premium, finance, service charges, ground rent, management, maintenance and voids. No sufficiently specific external rental comparable was identified, so the rent estimate requires validation. The all-in yield cannot be established because refurbishment, leasehold and other acquisition costs are unavailable.

Flip Analysis

A base GDV of £212,000 is supported cautiously by the supplied £200,000 and £212,000 Myrtle Street sales, while £253,000 is used as an upper scenario from Myrtle Court. A flip surplus cannot be calculated because refurbishment costs, selling costs and a complete acquisition-cost schedule are not supplied. The £2,280 buyer premium alone would apply at the guide.

Investor Risks & Due Diligence

• The £1,100 pcm figure is an auctioneer estimate rather than evidenced achieved rent.

• No sufficiently specific external rental comparable was identified.

• The approximately 989-year lease is subject to confirmation in the auction legal pack and copy lease.

• Buyer premium of £2,280 is payable in addition to the purchase price; other acquisition costs are not supplied.

• Service charge, ground rent, council tax and parking information are not supplied.

• The GDV scenarios rely on comparables whose exact size, layout and specification are not provided.

• EPC rating is D.

• No refurbishment cost, finance cost or selling-cost evidence is supplied.

Recommendation

Investigate as a potential buy-to-let, subject to independently validating the £1,100 pcm rent, confirming leasehold charges and reviewing the legal pack. Do not bid to a calculated maximum without refurbishment, finance, service-charge and selling-cost evidence.

Strategy Rating

Analysis Confidence

The analysis has recent same-street completed sales, a stated rent estimate and a clear guide price, but exact comparable specifications, achieved rental evidence, refurbishment costs, leasehold charges, council tax, parking and full acquisition costs are missing.