Flat 14, 1 Farnsby Street, Swindon, Wiltshire SN1 5AP

Description

A two bedroom flat requiring a scheme of modernisation throughout. The flat is situated on the sixth floor and the accommodation briefly comprises two bedrooms, a reception/kitchen room and a bathroom. The property is sold as seen. All services/appliances have not and will not be tested. The property may be suitable for cash buyers only due to being non-standard construction and a lack of an EWS1 certificate.

Accommodation

Two bedrooms, a reception/kitchen room and a bathroom; situated on the sixth floor.

Location

Conveniently located in Swindon Town Centre, the property benefits from superb access to a wide range of local amenities, shops, restaurants, and excellent transport links.

Tenure / Property Information

Investment Analysis

The five supplied completed sales are recorded at the same Bridge House address, ranging from £78,000 to £150,000. The latest supplied sale was £100,000 on 24 October 2025. As the comparables are not identified by individual flat, size, floor, condition or specification, the valuation range is broad and indicative only. A £100,000 base GDV is used, with £78,000 low and £150,000 high scenarios. The flat's non-standard construction and lack of EWS1 certificate may materially affect marketability and financeability.

Investment Snapshot

Strategy Recommendation

Proceed only after legal, lease, building-construction and EWS1 investigations, with a cash-based feasibility model once refurbishment and resale costs are obtained. Do not rely on conventional refinance or rental yield assumptions.

Works Required

Modernisation throughout as described by the auctioneer. The evidence does not specify individual defects, specifications or contractor costs. Services and appliances are untested and the property is sold as seen.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A £100,000 base GDV implies a purely mathematical 75% GDV figure of £75,000, but this is not evidence of available finance. The auctioneer indicates the property may be suitable for cash buyers only because of non-standard construction and no EWS1 certificate. Refurbishment costs, finance costs and total project cost are unavailable, so a reliable BRRR return or cash-left-in calculation cannot be completed.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The stated £4,840.94 service charge applies to the period 01/05/2026–31/10/2026, with additional ground rent of £600 per annum. These substantial leasehold costs would need to be assessed against achievable rent before considering the strategy.

Flip Analysis

The supplied sales support an indicative GDV range of £78,000–£150,000, with £100,000 used as the base case. Flip surplus cannot be calculated because modernisation costs, selling costs and other project costs are not supplied. The broad comparable range and non-standard construction create substantial resale uncertainty.

Investor Risks & Due Diligence

• Non-standard construction and lack of an EWS1 certificate may restrict mortgage and refinance availability.

• Service charge is £4,840.94 for the stated six-month period, with review arrangements to be confirmed in the lease.

• Ground rent is £600 per annum, with review arrangements to be confirmed in the lease.

• The flat requires modernisation throughout, but no costed scope or works budget is supplied.

• Services and appliances have not and will not be tested; the property is sold as seen.

• Completion is required within 14 days and additional fees may appear in the Special Conditions of Sale.

• The comparable sales are for the same building/address but are not identified by individual flat, floor, size, condition or specification.

• No reliable rental evidence or passing rent is supplied.

Recommendation

Proceed only after legal, lease, building-construction and EWS1 investigations, with a cash-based feasibility model once refurbishment and resale costs are obtained. Do not rely on conventional refinance or rental yield assumptions.

Strategy Rating

Analysis Confidence

There are several same-address completed sales and clear tenure, service-charge and auction information, but the comparables are not flat-specific, rental evidence is absent, refurbishment costs are absent, and financeability is expressly uncertain.