Flat 19 Audley Court, 1 Forge Way, Southend on Sea, Essex, SS1 2ZS

Description

Two double bedroom apartment situated on the third floor of a sought after modern and contemporary development located directly off Southend Seafront. This wonderful property boasts a south facing balcony affording glorious views towards the Thames Estuary and Southend Pier. There is a superb open plan lounge/kitchen, en-suite to principal bedroom and allocated parking in secure residents car park.

Accommodation

Communal Entrance Hall; Entrance Hall; Open Plan Lounge/Kitchen - 21' 9 x 16' 10; Bedroom One - 14' 6 x 8' 9; En-Suite Shower Room; Bedroom Two - 14' 1 x 7' 4; Bathroom; Balcony from the lounge with seaviews; Lift

Location

Located directly off Southend Seafront, near Southend Seafront and City Centre, with views towards the Thames Estuary and Southend Pier.

Tenure / Property Information

Investment Analysis

Same-development completed sales range from £195,000 to £250,000 in 2024–2026, with the latest sales at £195,000 and £235,000. The £225,000 guide is broadly supported, but exact flat-specific comparability is unconfirmed. A supported scenario range is £195,000–£250,000, with £225,000 as the base GDV.

Investment Snapshot

Strategy Recommendation

Consider only as a longer-term BTL at or below a carefully costed bid, subject to legal-pack review and confirmation of leasehold charges. Do not rely on a flip or BRRRR case without missing cost evidence.

Works Required

No specific refurbishment defects or works are evidenced. Any works budget is therefore unsupported; legal-pack review should confirm service charges, ground rent, insurance and lease obligations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £225,000 base GDV, 75% refinance is approximately £168,750. Cash left in cannot be calculated because refurbishment, buyer fees and leasehold costs are unavailable. Viability depends heavily on confirmed service charges, ground rent, lease terms and achievable rent.

Buy-to-Let Analysis

The auctioneer estimates rent at £1,300 pcm, producing £15,600 annual gross rent and a 6.93% gross yield on the £225,000 guide. Net yield cannot be established because service charges, ground rent, insurance, buyer fees and other costs are undisclosed. The rent is an estimate, not passing rent.

Flip Analysis

A £225,000 base resale value is supported by same-development sales, but flip surplus cannot be calculated because refurbishment, transaction, finance and selling costs are not provided. The guide is already close to the supported market range.

Investor Risks & Due Diligence

• Service charge, ground rent, insurance and maintenance costs are undisclosed.

• The £1,300 pcm rent is an auctioneer estimate rather than achieved or passing rent.

• Buyer premium, administration fees and other acquisition costs are unspecified.

• Leasehold details require legal-pack verification despite the stated 101 years remaining.

• Vacant possession means there is no existing rental income.

Recommendation

Consider only as a longer-term BTL at or below a carefully costed bid, subject to legal-pack review and confirmation of leasehold charges. Do not rely on a flip or BRRRR case without missing cost evidence.

Strategy Rating

Analysis Confidence

Completed same-development sales and an auctioneer rent estimate are available, but flat-specific comparability, actual costs, condition, service charges and buyer fees are not provided.