Flat 151, Stockham Park, Wantage, Oxfordshire

Description

Vacant leasehold self-contained ground floor flat offered by order of a Housing Association. The property comprises a reception room, bedroom, kitchen and bathroom, with GIA approximately 55.64 sq m (599 sq ft). The vendor will not accept offers prior to the auction.

Accommodation

Reception room, bedroom, kitchen and bathroom. GIA approximately 55.64 sq m (599 sq ft).

Location

Situated on the east side of Stockham Park. The shops and amenities of Wantage are to the south east. Didcot Parkway station is approximately 11 miles to the east. The A420 is to the north and Betjeman Millennium Park is to the south east.

Tenure / Property Information

Investment Analysis

The £130,000 sale of 155 Stockham Park is the only relatively relevant comparable, but it completed in March 2020 and no current comparable evidence is supplied. It supports an indicative base GDV of £130,000 only, subject to current condition, lease terms and market movement. The £13,050 sale from 1995 is too historic to support a current valuation. The £60,000+ guide represents a substantial discount to the available comparable, but the reason for that discount is not evidenced.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a low-entry BTL subject to legal-pack, condition and service-charge checks. Do not rely on the headline yield or GDV without confirming achieved rent, costs and current market value.

Works Required

No specific defects or condition issues are supplied. Allowance for refurbishment cannot be estimated without inspection evidence. Obtain a survey, review the legal pack, and verify the lease, ground rent, service charge and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative £130,000 base GDV would be approximately £97,500. However, total project cost cannot be calculated because refurbishment costs, buyer costs, service charges and other fees are unknown. The refinance outcome therefore remains highly dependent on the eventual valuation, works requirement and lender criteria.

Buy-to-Let Analysis

At the £60,000 guide, the supplied advertised asking rents of £850–£950 pcm imply gross yields of approximately 17%–19% before finance, service charge, management, maintenance, voids, tax and acquisition costs. These are advertised rents rather than achieved rents, and no service charge or other ownership costs are supplied, so net yield and sustainable cash flow cannot be established.

Flip Analysis

The available 2020 comparable indicates a potential gross resale value around £130,000, but it is not a current formal valuation. A flip surplus cannot be calculated because refurbishment costs, acquisition costs, selling costs and the current achievable resale value are not sufficiently evidenced.

Investor Risks & Due Diligence

• The only relevant comparable completed in March 2020 and may not reflect current value.

• Advertised rents of £850–£950 pcm are not achieved rents.

• Property condition and refurbishment requirements are not evidenced.

• Ground rent information must be checked in the legal pack.

• Service charge, buyer premium, admin charge and other acquisition costs are not supplied.

• EPC, council tax, parking and heating details are not supplied.

• Actual refinance value may differ materially from the indicative comparable-based GDV.

Recommendation

Potentially attractive as a low-entry BTL subject to legal-pack, condition and service-charge checks. Do not rely on the headline yield or GDV without confirming achieved rent, costs and current market value.

Strategy Rating

Analysis Confidence

The analysis has one materially relevant but dated comparable and two advertised rental figures. Condition, EPC, service charge, ground rent, buyer costs, other fees and current valuation evidence are missing.