Flat 1, 21 St. Margarets Green, Ipswich, Suffolk, IP4 2BN

Description

A one-bedroom flat, without possession. Auction House North West have not inspected but believe this to be a one-bedroom flat. The property is sold without possession and no viewings are available. All services/appliances have not and will not be tested. The total approximate floor area, taken from an expired EPC is 72m2 although this cannot be verified.

Accommodation

Bedroom, living room, kitchen and bathroom.

Location

Well located on the edge of Christchurch Park and the historic centre of Ipswich with access to all amenities and transport links.

Tenure / Property Information

Investment Analysis

The only recent comparable supplied is the same address, sold leasehold for £50,000 on 7 August 2025. This supports a base GDV estimate of £50,000, but there is insufficient evidence to establish reliable low and high scenarios. The older 2005 sales are not used as current market evidence. The £395 pcm rental evidence is an advertised asking rent for a one-bedroom property in Christchurch Street, IP4, rather than achieved rent or an exact match. The property cannot be viewed, is sold without possession, has an expired EPC and an unverified floor area, while leasehold costs remain unknown.

Investment Snapshot

Strategy Recommendation

Treat as a high-diligence purchase rather than an underwritten refurbishment or flip. Only proceed after reviewing the legal pack and confirming lease, ground rent, service charge, possession position and special costs; otherwise do not bid.

Works Required

No specific works can be supported from the evidence because the flat has not been inspected and no viewings are available. Following possession, arrange inspection, service and appliance testing, confirmation of floor area and condition, and carry out only any remedial or refurbishment works identified. Review the lease, ground rent and service charge before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A £50,000 base GDV implies 75% refinance proceeds of approximately £37,500. However, refurbishment costs, leasehold charges, legal costs and any possession-related costs are unknown, so total project cost and cash left in cannot be calculated. The apparent refinance margin is therefore not sufficient evidence to support a BRRR decision.

Buy-to-Let Analysis

Using the supplied £395 pcm advertised asking rent, annual gross rent is estimated at £4,740 and gross yield on the £37,000 guide is approximately 12.81%. This is not an achieved rent and is not confirmed for the subject flat. Net yield cannot be established because ground rent, service charge, finance costs, insurance, maintenance, voids and legal costs are unknown. Possession is not available at auction, creating additional occupancy and possession risk.

Flip Analysis

The supplied recent same-address sale supports a £50,000 base GDV against the £37,000 guide, before the £1,500 buyer premium, works, legal or selling costs. Because condition is unknown, possession is unavailable, special-condition costs are unspecified and no selling allowance is supplied, a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Property is sold without possession and no viewings are available.

• Auctioneer has not inspected the property; services and appliances will not be tested.

• The EPC is expired and the stated 72m2 floor area cannot be verified.

• Ground rent and service charge are unknown and must be checked in the legal pack.

• Special conditions may impose search fees, sellers' costs, legal fees and transfer fees.

• The recent comparable is a single same-address sale and the rental evidence is an advertised asking rent for a different listing.

• Lease length is stated as 99 years from 2005, but current unexpired term and lease provisions should be verified.

Recommendation

Treat as a high-diligence purchase rather than an underwritten refurbishment or flip. Only proceed after reviewing the legal pack and confirming lease, ground rent, service charge, possession position and special costs; otherwise do not bid.

Strategy Rating

Analysis Confidence

A recent same-address sale and one local advertised rent are available, but there is no inspection or viewing, possession is unavailable, the EPC and floor area are unverified, and key leasehold and project costs are missing.