Flat 1 Goldney House, Corsham, Wiltshire SN13 0AU

Description

A two bedroom ground floor flat. The property forms part of a purpose built block with use of the communal gardens and an external store. In need of modernisation. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.

Location

Corsham is a town in the county of Wiltshire. Located in Goldney House, close to the turning for Priory Street. Amenities are available nearby along Rickwick Road and Newlands Road. Recreational amenities of Corsham Park, The Rec, Corsham Court Gardens and Beechfield Nature Area are all easily accessible. Transport: Chippenham - GWR; Melksham - GWR.

Tenure / Property Information

Investment Analysis

Same-building Land Registry evidence is highly dispersed: £71,250 on 20 September 2024 and £170,000 on 10 March 2026, with an earlier £168,866 sale. These sales are not identified by flat number, size, condition or lease terms, so they provide a broad reference range rather than a reliable unit-specific valuation. A midpoint scenario of £120,625 is used as the base GDV, subject to legal-pack, condition and comparability checks. The £70,000 guide is close to the lowest recorded sale but refurbishment costs and leasehold liabilities are unknown.

Investment Snapshot

Strategy Recommendation

Conditional value-led purchase only after reviewing the legal pack, confirming the new lease terms and obtaining a detailed refurbishment budget. Do not bid beyond a separately supported GDV less all works, selling, finance and leasehold costs.

Works Required

Modernisation of the vacant two-bedroom flat, including the kitchen, bathroom/WC and general internal finishes where required. The evidence does not define the specification, defects or cost, so no refurbishment allowance is estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV scenario, 75% refinancing would be approximately £90,468.75. However, total acquisition and refurbishment cost cannot be calculated because works, buyer costs, service charges and other leasehold liabilities are not supplied. Cash left in and equity cannot therefore be assessed reliably.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield, operating surplus and a sensible bid limit cannot therefore be established. The flat is stated to be vacant and in need of modernisation.

Flip Analysis

The evidence indicates potential gross value above the £70,000 guide, but the comparable range is unusually wide and the sales are not confirmed as the same flat. With refurbishment costs, selling costs and exact unit comparability unavailable, a dependable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Material dispersion in same-building sold prices, with no confirmation that the comparables are the same flat or equivalent specification.

• The property is stated to be in need of modernisation, but the scope and cost of works are unknown.

• No rental evidence or auctioneer rent estimate is supplied, preventing yield analysis.

• Leasehold service charges, ground rent and other lease terms are not supplied and require legal-pack review.

• Buyer premium, administration charge and other acquisition costs are not supplied.

• Parking, heating and council tax information are not supplied.

Recommendation

Conditional value-led purchase only after reviewing the legal pack, confirming the new lease terms and obtaining a detailed refurbishment budget. Do not bid beyond a separately supported GDV less all works, selling, finance and leasehold costs.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and a stated guide price, but the comparables are not unit-specific, condition and accommodation size are not evidenced in detail, and rent, refurbishment costs, buyer charges and leasehold costs are unavailable.