Flat 1, Stanhope Lodge, Stanhope Drive, Cowes, Isle Of Wight

Description

Located in the heart of the popular town of Cowes, with the main yachting harbour and other amenities a short drive away, this ground floor flat would benefit from some upgrading and modernisation. Once renovated, the flat is considered ideal for use as a rental investment, use by an owner occupier or perhaps as a second home.

Accommodation

Entrance hall, living/dining room, kitchen, two bedrooms and bathroom.

Location

Located in the heart of the popular town of Cowes, with the main yachting harbour and other amenities a short drive away.

Tenure / Property Information

Investment Analysis

HM Land Registry evidence records five leasehold flat/maisonette sales at Stanhope Lodge from £170,000 to £265,000, including £208,000 in November 2022 and £265,000 in November 2024. The comparables do not identify the individual flats, accommodation, condition or lease terms, so they support only a broad indicative range rather than a formal valuation. A cautious scenario range is £208,000–£265,000, with a midpoint base case of £235,000. The £135,000–£145,000 guide is materially below this broad comparable range, but refurbishment costs, lease liabilities and buyer fees are unknown.

Investment Snapshot

Strategy Recommendation

Potential value opportunity for an owner occupier or long-term investor, subject to inspection and full legal-pack review. Do not rely on the apparent comparable discount until lease liabilities, works and all additional fees are confirmed.

Works Required

General upgrading and modernisation as stated by the auctioneer. No detailed schedule, specification or evidence of particular defects is supplied, so a refurbishment budget cannot be reliably estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A broad comparable-based base GDV of £235,000 is indicated, with a 75% refinance illustration of £176,250. Total project cost cannot be calculated because the refurbishment scope, purchase price selected, buyer/admin charges and other fees are unknown. BRRR viability is therefore unproven.

Buy-to-Let Analysis

The flat is described as potentially suitable for rental investment, but no sufficiently specific rental evidence or auctioneer rent estimate is provided. Rent, gross yield, operating costs and BTL affordability therefore cannot be established. Lease terms, service charge, ground rent and any letting restrictions should be checked in the legal documentation.

Flip Analysis

The guide is below the broad £208,000–£265,000 comparable range, but the evidence does not establish that the sales relate to equivalent flats or equivalent condition. No refurbishment allowance, transaction-cost allowance or selling allowance is supported, so a reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Comparable sales do not identify the individual flats, their condition, size, specification or exact lease terms.

• The scope and cost of the required upgrading and modernisation are unknown.

• No sufficiently specific rental evidence or passing rent is supplied, so rental yield cannot be assessed.

• The lease is subject to further legal-document review, including potentially material service charge, ground rent, restrictions or other obligations.

• An administration fee and other non-optional fees may be payable, but their amounts are not supplied.

• The guide is an auction guide and does not establish the purchase price or market value.

Recommendation

Potential value opportunity for an owner occupier or long-term investor, subject to inspection and full legal-pack review. Do not rely on the apparent comparable discount until lease liabilities, works and all additional fees are confirmed.

Strategy Rating

Analysis Confidence

There is useful same-building completed-sale evidence, but the individual comparable details, refurbishment scope, rental evidence, lease charges and auction fees are incomplete.