Flat 101, 21b, St. Matthews Street, Ipswich, Suffolk, IP1 3EL

Description

Leasehold first floor flat. Upon Instruction of Countrywide.

Accommodation

Principal bedroom with en-suite, one further bedroom, reception room open plan to kitchen, bathroom/WC.

Location

Located on St. Matthews Street. Shopping amenities are available locally within Ipswich Town Centre. Public transport links include Ipswich Train Station to the south and local bus services. Road links include the A1022 and A14 to the west. Christchurch Park is located to the north east.

Tenure / Property Information

Investment Analysis

Recent completed sales for the same address were £75,000, £76,000 and £77,000 in 2024–2025. A base GDV of £76,000 is supported, with a low/high evidence range of £75,000–£77,000. The £46,000 guide represents a substantial discount before the £1,800 buyer documentation fee, although service charge, seller costs and condition remain unknown.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a buy-to-let or BRRR acquisition at the guide, subject to confirming the lease, service charge, ground-rent review terms, seller charges and condition. Do not rely on the headline yield until those costs are verified.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any minor works only if confirmed, and obtain the service-charge, ground-rent and lease information before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide plus the known £1,800 documentation fee, the base acquisition cost is £47,800 before any unknown seller charges or works. A 75% refinance against the £76,000 base GDV would be £57,000, implying approximately £9,200 potentially released above these known costs. This is indicative only and depends on lender valuation, leaseability, service-charge information, finance costs and any refurbishment requirement.

Buy-to-Let Analysis

Using the most relevant same-street advertised two-bedroom flat rent of £1,100 pcm, annual gross rent is estimated at £13,200 and gross yield is approximately 28.70% on the £46,000 guide, or 27.62% including the known £1,800 documentation fee. The lower £976 pcm listing is from a different road and property type. Net yield cannot be established because service charge, other charges, maintenance, voids, management and finance costs are unavailable.

Flip Analysis

The supported base GDV is £76,000 against known purchase and documentation costs of £47,800, giving £28,200 before selling costs, finance, tax, works and any seller charges. A reliable net flip surplus cannot be calculated because no selling allowance or refurbishment budget is supplied.

Investor Risks & Due Diligence

• Annual service charge and ground-rent details are not supplied.

• The lease ground-rent review period and increase terms are unknown.

• Additional seller fees may be payable under the special conditions.

• Rental evidence is advertised asking rent rather than achieved rent, and one comparable is from a different road and property type.

• Condition and any refurbishment requirement are not evidenced.

• Refinance proceeds depend on lender valuation, underwriting and lease/service-charge acceptability.

Recommendation

Potentially attractive as a buy-to-let or BRRR acquisition at the guide, subject to confirming the lease, service charge, ground-rent review terms, seller charges and condition. Do not rely on the headline yield until those costs are verified.

Strategy Rating

Analysis Confidence

The same-address completed sales and basic property details are strong, but condition, service charge, seller costs, achieved rent and full lease information are incomplete.