Flat 12A, Royal Beach Court, North Promenade, Lytham St. Annes, Lancashire FY8 2LT

Description

Vacant two bedroom (two bathroom) first floor flat with allocated parking and sea views. Substantial first floor two bedroom apartment with allocated onsite parking. Residents also benefit from a private storeroom on the ground floor, an allocated parking space in the communal garage, and a lift servicing all floors.

Accommodation

Entrance hall, open plan lounge/dining room with access to a balcony looking out to the beach and sea, kitchen, two double bedrooms, bathroom and shower room. Approximately 108 m2 / 1,162 sq.ft.

Location

A popular purpose-built apartment block situated overlooking the Irish Sea, close to St Annes Pier, Ashton Gardens, the beach, St. Annes Square, and local amenities and transport links.

Tenure / Property Information

Investment Analysis

Five completed sales within Royal Beach Court range from £230,000 to £340,000, with a simple average of £282,000. The two most recent sales were £275,000 and £295,000. As flat-specific details, condition and exact comparability are not supplied, £282,000 is used as the base GDV, with a wider evidence-supported range of £275,000 to £340,000. The £340,000 sale may represent superior characteristics, condition or position, which cannot be verified from the evidence.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a cautious long-term BTL or BRRR assessment if the lease, service charge, valuation and achieved rent are verified. The low gross yield and high annual service charge make the deal sensitive to purchase price and operating costs. Do not commit above the guide without legal-pack, survey and valuation confirmation.

Works Required

No specific defects or refurbishment requirements are evidenced. Budgetary works cannot be quantified without inspection. Verify the EPC E rating, lease and service-charge position, and undertake a full survey; any redecoration or improvement should only be specified after inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, base acquisition cost is £201,800 before any unquantified disbursements, works or finance costs. A 75% refinance against the £282,000 base GDV indicates £211,500, leaving approximately £9,700 above the stated base cost before finance, tax and other costs. This is highly dependent on valuation, lender criteria, lease/legal review, service-charge affordability and the absence of material refurbishment costs.

Buy-to-Let Analysis

Using the single advertised asking rent of £725 pcm, annual gross rent is £8,700. This produces approximately 4.35% gross yield on the £200,000 guide and 4.31% on the £201,800 purchase cost including the stated £1,800 buyer premium. The £3,120 annual service charge and £20 ground rent are payable before other operating, finance, void and management costs, so net yield would be lower. The rent is asking evidence, not achieved rent.

Flip Analysis

On the base GDV of £282,000, the apparent gross margin over the £201,800 base purchase cost is £80,200 before selling costs, finance, tax, works, legal costs and disbursements. No supported selling allowance or refurbishment budget is provided, so a reliable net flip surplus cannot be calculated. The margin could be materially affected by the flat's actual condition and achievable resale value.

Investor Risks & Due Diligence

• The £725 pcm figure is one advertised asking rent and may not be achieved.

• The £3,120 annual service charge materially reduces net rental return and could change in future.

• The property has an EPC rating of E; upgrade requirements and costs are not evidenced.

• The exact flat characteristics, condition and comparability of the sold evidence are not supplied.

• Auction disbursements, seller-cost reimbursements, legal fees, transfer fees and search fees may be payable but are unquantified.

• Leasehold, service-charge and sinking-fund terms require legal-pack review despite the stated long lease.

• The base refinance calculation is indicative only and depends on lender valuation and criteria.

Recommendation

Potentially suitable for a cautious long-term BTL or BRRR assessment if the lease, service charge, valuation and achieved rent are verified. The low gross yield and high annual service charge make the deal sensitive to purchase price and operating costs. Do not commit above the guide without legal-pack, survey and valuation confirmation.

Strategy Rating

Analysis Confidence

There are five completed sales in the same block and clear lease, service-charge and fee data, but the exact comparable-unit details, condition, legal-pack disbursements, achieved rent, finance terms and refurbishment requirements are not supplied.