Flat 10 Ophelia Place, 91 Parliament Road, Ipswich, Suffolk IP4 5EP

Description

Situated in East Ipswich, this one bedroomed top floor apartment offers character accommodation with the benefit of open plan living accommodation. There is an allocated parking space and the property is situated within easy reach for Ipswich Hospital and all local amenities.

Accommodation

Intercom to communal hall. Main entrance door leading into communal hallway, with shared staircase to second floor. Living Room: irregular shaped room - not measured. Kitchen: 10' 11" x 6' 10" (3.33m x 2.08m). Bedroom One: 12' 11" into window recess x 6' 10" (3.94m into window recess x 2.08m). Bathroom.

Location

Situated in East Ipswich, within easy reach of Ipswich Hospital and all local amenities.

Tenure / Property Information

Investment Analysis

Land Registry evidence records five leasehold flat sales at the same Ophelia Place/91 Parliament Road address, ranging from £110,000 to £147,500. The two latest sales were £144,500 and £147,500, but unit numbers are not supplied, so the evidence cannot conclusively establish the subject flat's individual value. A simple average of the five recorded sales gives a cautious base GDV of £127,400, with the observed sales range used for low and high scenarios.

Investment Snapshot

Strategy Recommendation

Potential value-led purchase only after confirming the subject unit against the comparables, reviewing the lease and special conditions, and inspecting condition. Do not rely on the supplied rent evidence or bid without a full cost allowance.

Works Required

No condition defects or required works are evidenced. Allow for a full inspection and leasehold due diligence before bidding; no refurbishment allowance is supported by the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the property appears materially below the supplied same-address sales evidence, and 75% of the indicative base GDV is £95,550. However, total project cost cannot be calculated because works, service charges, ground rent, finance costs and other auction fees are unknown. Refinance feasibility therefore remains unconfirmed.

Buy-to-Let Analysis

BTL yield cannot be established. The only rental evidence is an advertised £1,582 pcm for a different property, Flat 10 Eyot House, and is not reliable rent evidence for this flat. Service charge, ground rent, council tax and other operating costs are also not supplied.

Flip Analysis

The guide is below the supplied same-address sale range, but the comparables are not identified by unit number and no supported works or selling-cost allowance is available. A reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The completed sales do not include flat or unit numbers, so their comparability to Flat 10 is unconfirmed.

• No reliable rent evidence is supplied for the subject property; the quoted rental listing relates to a different property.

• Service charge, ground rent, council tax, EPC, heating details and condition information are missing.

• Additional auction fees may apply under the special conditions of sale.

• The lease began on 25 March 2007 for 125 years; the precise remaining term and all lease terms should be verified before bidding.

• Buyer premium is 1.2% subject to a minimum of £1,200, and the deposit is subject to a minimum of £5,000.

Recommendation

Potential value-led purchase only after confirming the subject unit against the comparables, reviewing the lease and special conditions, and inspecting condition. Do not rely on the supplied rent evidence or bid without a full cost allowance.

Strategy Rating

Analysis Confidence

There are five same-address completed sales and clear auction pricing, but unit-specific comparability, rent, condition, leasehold charges, EPC and several fees are unavailable.