Flat 15, Sherborne Court 66-68, Upperton Road, EASTBOURNE, East Sussex

Description

Leasehold third floor flat. Upon instruction of Countrywide.

Accommodation

Studio room, kitchen, bathroom/wc

Location

The property is located on Upperton Road (A2270). Shopping amenities can be found locally within Eastbourne Town Centre. Public transport links are available at Eastbourne Train Station to the south east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A259 to the south. Recreational pursuits can be found at Motcombe Gardens to the south west and Gildredge Park to the south.

Tenure / Property Information

Investment Analysis

The five supplied completed sales at Sherborne Court range from £110,000 to £300,000, with no flat numbers, sizes, bedroom details or condition provided. The range is therefore too wide to support a reliable subject-specific GDV. The £46,000 guide is materially below all supplied sales, but this cannot be treated as evidence of value without confirming the comparable units and the subject flat's condition, occupancy and lease costs.

Investment Snapshot

Strategy Recommendation

Do not bid on the available evidence alone. First verify the exact comparable sales, inspect the flat, and obtain the lease, service-charge and ground-rent information plus all special conditions. Reassess only if a defensible GDV and full project cost can be established.

Works Required

No specific refurbishment works are evidenced. Confirm condition, fixtures, services, heating and any communal or external repair liabilities before bidding. Obtain the lease, management information, service-charge accounts and special conditions.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is not supportable because GDV, refurbishment cost, rent, service charge, ground rent and likely refinance value are unconfirmed. The lease has 101 years remaining as stated, but this alone does not establish lenderability or value.

Buy-to-Let Analysis

A reliable BTL assessment cannot be established. The only rental evidence is an advertised £400 pcm for a one-bedroom flat in Hailsham, which is not the subject studio in Eastbourne and is not an achieved rent. Service charge, ground rent, occupancy and property condition are also unknown. The £1,800 inclusive-of-VAT contract documentation fee is known, but total acquisition costs cannot be completed.

Flip Analysis

A flip appraisal cannot be reliably calculated. Same-building completed sales range from £110,000 to £300,000, but the evidence does not identify the relevant units or explain the substantial variation. Refurbishment and selling costs are also unsupported.

Investor Risks & Due Diligence

• Annual service charge, ground rent, review terms and management information are unknown.

• Additional seller fees may be payable under the special conditions.

• The five same-building sales range widely from £110,000 to £300,000 and lack unit, size, bedroom and condition details.

• Occupancy and condition are not stated.

• Parking and heating arrangements are unknown.

• The supplied £400 pcm rental evidence is for a one-bedroom flat in Hailsham rather than this Eastbourne studio.

Recommendation

Do not bid on the available evidence alone. First verify the exact comparable sales, inspect the flat, and obtain the lease, service-charge and ground-rent information plus all special conditions. Reassess only if a defensible GDV and full project cost can be established.

Strategy Rating

Analysis Confidence

There is useful tenure, lease-length, guide-price, fee and same-building sales evidence, but the comparables are unidentified beyond the building, values vary widely, and rent, condition, occupancy, service charge, ground rent, parking, heating and seller fees are unresolved.