Flat 11 St. Wilfrids Place, High Street, Selsey, Chichester, West Sussex, PO20 0QY

Description

Leasehold second floor flat comprising open plan living/kitchen, 2 bedrooms and bathroom.

Accommodation

Hallway; Living/Kitchen - 6.22 x 3.58; Bedroom 1 - 3.05 x 2.87; Bedroom 2 - 3.05 x 2.43; Bathroom - 2.07 x 1.82; Total Floor Area - 59 sq.m. (taken from EPC)

Location

Situated on the High Street with an array of local amenities, cafes and restaurants. Chichester mainline railway station is approximately 7 miles away. Location Pin (What3Words): latest.thumb.girder

Tenure / Property Information

Investment Analysis

Direct sold comparables at St Wilfrids Place range from £136,000 to £155,000 in 2023. Using the two latest supplied sales, an indicative base GDV of £145,500 is adopted, with £136,000 low and £155,000 high scenarios. These are estimates, not formal valuations.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection, legal-pack review and confirmation of resale value. The evidence supports potential value uplift, but absent rental evidence and unknown costs make BTL and BRRR underwriting incomplete.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspection and legal-pack review are required before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 guide, known purchase costs comprise the £1,680 buyer premium and £1,750 minimum administration charge, producing a £113,430 base cost before unknown charges and works. A 75% refinance against the £145,500 base GDV indicates £109,125, leaving approximately £4,305 of known-cost cash in before finance, tax, works and other fees. Refinance and lending terms are not confirmed.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The flat is vacant and has a £120 per annum fixed ground rent, with other ownership and operating costs unknown.

Flip Analysis

The base GDV indicates £32,070 gross headroom over the guide price plus stated buyer and administration charges, before works, selling costs, finance, tax and additional legal-pack charges. A reliable flip surplus cannot be calculated because works and selling allowances are unsupported.

Investor Risks & Due Diligence

• Leasehold tenure with approximately 105 years remaining.

• Fixed ground rent of £120 per annum; wider service-charge and lease obligations are not supplied.

• Rental income and yield cannot be verified from the evidence.

• Condition and any refurbishment requirements are unknown.

• Additional search, legal, transfer, seller-cost and disbursement charges may apply.

• Comparable sales are historic and do not establish a formal current valuation.

Recommendation

Proceed only subject to inspection, legal-pack review and confirmation of resale value. The evidence supports potential value uplift, but absent rental evidence and unknown costs make BTL and BRRR underwriting incomplete.

Strategy Rating

Analysis Confidence

The property has several direct same-development sold comparables, but there is no rental evidence, condition assessment, parking/heating information or full schedule of additional purchaser costs.