Flat 14 Jarman Court, Woking, Surrey, GU21 5JD

Description

A first-floor apartment with two bedrooms. The accommodation comprises a hallway with storage cupboard, an open plan living room and kitchen, a bathroom, two bedrooms and an ensuite shower room. The property is close to all amenities in Woking town centre, which also has direct rail access to London. The total approximate floor area, taken from the EPC, is 61m1. All services/appliances have not and will not be tested.

Accommodation

Hallway with storage cupboard, open plan living room and kitchen, bathroom, two bedrooms and an ensuite shower room.

Location

Close to all amenities in Woking town centre, which also has direct rail access to London.

Tenure / Property Information

Investment Analysis

The five supplied Jarman Court comparables range from £188,000 to £250,000. The three most recent sales were £230,000, £245,000 and £250,000, supporting a base GDV estimate of £240,000, with a low scenario of £230,000 and high scenario of £250,000. The evidence does not confirm that the comparables are the same flat or identical in condition, floor area or lease terms. The £160,000 guide represents a substantial discount to this indicative comparable range, but the legal-pack costs, service charge, ground rent and condition remain unquantified.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a buy-to-let purchase at or near the guide, subject to confirming the legal pack, lease, service charge, ground rent, possession position and achievable rent. Do not rely on the headline GDV spread for a flip or BRRR strategy until all costs and condition are verified.

Works Required

No specific works are evidenced. Obtain a survey and inspect the legal pack; all services and appliances are expressly untested. Any refurbishment budget should remain provisional until condition and compliance are verified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV estimate, 75% loan-to-value refinancing would be approximately £180,000. The guide plus the stated 1.2% buyer premium is £161,920 before any other costs, but refurbishment, legal-pack charges, service charge, ground rent and finance costs are unknown. Cash left in and refinance viability therefore cannot be reliably calculated.

Buy-to-Let Analysis

Using the midpoint of the supplied local asking-rent range (£1,625 pcm), annual advertised rent is £19,500 and gross yield on the £160,000 guide is approximately 12.19%. The evidence comprises asking rents rather than achieved rents, and service charge, ground rent, finance, insurance, maintenance, voids and legal-pack costs are unknown, so net yield and cash flow cannot be established.

Flip Analysis

The comparable evidence indicates a base resale value of approximately £240,000, but no supported refurbishment allowance, selling-cost allowance or complete acquisition-cost figure is available. A reliable flip surplus cannot therefore be calculated. The apparent guide-to-GDV spread should not be treated as profit.

Investor Risks & Due Diligence

• Ground rent and service charge are not supplied.

• Additional legal, search, transfer and seller-cost reimbursements may be payable under the legal pack.

• All services and appliances are untested.

• Rental evidence is advertised asking rent, not achieved rent.

• Occupancy or possession status is not stated.

• The sold comparables may not match this flat's exact condition, floor area, lease position or parking circumstances.

• A reliable refurbishment budget cannot be prepared from the supplied evidence.

Recommendation

Potentially suitable for a buy-to-let purchase at or near the guide, subject to confirming the legal pack, lease, service charge, ground rent, possession position and achievable rent. Do not rely on the headline GDV spread for a flip or BRRR strategy until all costs and condition are verified.

Strategy Rating

Analysis Confidence

There are five nearby/same-development sold comparables and four rental asking-rent references, but the comparable specification, actual achievable rent, condition, occupancy, service charge, ground rent and legal-pack costs are incomplete.