Flat 15 32 Nile Street, Sunderland, Tyne and Wear

Description

A well positioned two bedroom apartment situated within this popular city centre development. A perfect investment opportunity, previously achieving £850pcm rental income in the past, with potential scope to increase.

Accommodation

Two bedrooms, including a principal bedroom with en-suite, main bathroom and a spacious open plan living area. The apartment also benefits from a balcony.

Location

Ideally located within Sunderland city centre, the property is well placed for a range of shops, restaurants, bars and leisure facilities, with excellent access to public transport including the metro system and Sunderland's wider amenities.

Tenure / Property Information

Investment Analysis

Recent Land Registry evidence at the same address includes a £55,000 sale on 17 June 2026. Older same-address sales range from £45,000 to £57,645. A base GDV of £55,000 is therefore used, with £45,000 low and £57,645 high scenarios. The analysis does not confirm the specific flat, condition, service charge, lease length or any transactional costs beyond the stated admin charge.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the specific flat, lease length, service charges, current rental potential and all auction costs. At the lower guide, the historic rent appears attractive, but the return is not sufficiently reliable for an unconditional bid.

Works Required

No specific refurbishment defects or works are evidenced. Obtain legal and physical due diligence and allow for only any works identified by inspection; no refurbishment allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £55,000 base GDV, 75% refinance is approximately £41,250. A reliable cash-left-in calculation cannot be completed because refurbishment costs, buyer premium, other charges and the final purchase price are unknown. The short lease and property/legal costs are also not evidenced and require verification.

Buy-to-Let Analysis

The only rental evidence is historic income of £850 pcm, equivalent to £10,200 annually. At the £45,000 lower guide this indicates a 22.67% gross yield, while the £60,000 upper guide indicates 17.00%. These are not current achieved rents and cannot account for service charges, lease costs, voids, management, maintenance, finance or tax. No sufficiently specific external rental comparable was identified.

Flip Analysis

The base GDV is estimated at £55,000 from same-address completed sales. A flip surplus cannot be calculated because works, buyer premium, selling costs and other charges are not sufficiently specified. The guide range and the latest same-address evidence suggest limited value headroom before costs, subject to the actual purchase price.

Investor Risks & Due Diligence

• Historic £850 pcm rent may not be current or achievable.

• Lease length, ground rent and service charge are not supplied.

• Buyer premium and other auction charges are unspecified.

• No condition evidence or refurbishment budget is available.

• The comparable sales are recorded for the same address but do not confirm the specific flat.

• Gross yield excludes management, maintenance, voids, finance, tax and leasehold costs.

Recommendation

Proceed only after confirming the specific flat, lease length, service charges, current rental potential and all auction costs. At the lower guide, the historic rent appears attractive, but the return is not sufficiently reliable for an unconditional bid.

Strategy Rating

Analysis Confidence

Same-address completed sales and historic rental income are available, but current rent, lease details, condition, service charges, buyer premium and several transaction costs are missing.