Flat 10, St. Michaels Court, Western Avenue, Cardiff, South Glamorgan

Description

Leasehold first floor flat comprising three bedrooms, reception room, kitchen and bathroom/WC.

Accommodation

Three bedrooms, reception room, kitchen, bathroom/WC

Location

Located on St Michaels Court, off Western Avenue (A48). Local shopping amenities are available within Cardiff City Centre. Public transport links are available at Fairwater Train Station and Waun-gron Park Train Station, with local bus services serving the surrounding areas. Road links include the A48 and A4119. Recreational pursuits include Llandaff Fields and Victoria Park.

Tenure / Property Information

Investment Analysis

Same-block completed sales range from £85,000 to £150,000, with the latest supplied sale at £130,000 in November 2022. These are historic and the evidence does not confirm their lease lengths. The subject has only approximately 31 years 4 months to 32 years remaining, with conflicting lease figures, so applying the comparable range without a lease review is highly uncertain. A provisional base GDV of £130,000 is used, with £85,000 low and £150,000 high scenarios based only on the supplied sales.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Review the legal pack, reconcile the lease term, establish any lease-extension or other lease liabilities, inspect the flat and obtain current valuation and rental evidence before setting a bid.

Works Required

No condition issues or required works are stated. Obtain the legal pack and inspect the flat before allowing for any refurbishment, repairs or compliance works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the provisional £130,000 base GDV, 75% GDV equates to £97,500. Total project cost cannot be calculated because condition, works, seller fees and lease-related costs are unknown. The short and inconsistently reported remaining lease term requires legal and lending review before considering refinance.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The £1,800 inclusive-of-VAT contract documentation fee is known, but works, other seller fees and full lease costs are not.

Flip Analysis

A provisional resale range of £85,000 to £150,000 is supported by historic same-block sales, but no reliable flip surplus can be calculated because works, selling costs, seller fees and lease-related costs are unavailable. The short lease may materially affect resaleability and value.

Investor Risks & Due Diligence

• Only approximately 31 years 4 months to 32 years remain on the lease, with conflicting figures in the listing.

• Lease information is otherwise awaited and buyers are directed to check the legal pack.

• No sufficiently specific current rental evidence or auctioneer rent estimate is supplied.

• Property condition and required works are unknown.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Historic comparable sales range widely and do not confirm comparable lease lengths.

• Parking and heating information require confirmation from the auction centre.

Recommendation

Do not bid on the current evidence alone. Review the legal pack, reconcile the lease term, establish any lease-extension or other lease liabilities, inspect the flat and obtain current valuation and rental evidence before setting a bid.

Strategy Rating

Analysis Confidence

There are several same-block completed sales, but they are historic and their lease terms are unknown. Current rent, condition, works, seller fees, legal-pack details and the exact lease term are unavailable or inconsistent.