Flat 2, 11 Westcourt Road, Worthing, West Sussex

Description

A Vacant Ground Floor One Bedroom Flat in Need of Refurbishment. The property comprises a ground floor one bedroom flat situated within an end of terrace building arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Bedroom, Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Victoria Park are within easy reach. Transport links are provided by Worthing rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £170,000 completed sale at 11 Westcourt Road in March 2024. Same-road sales at 13 Westcourt Road were £158,000 in December 2024 and £148,000 in February 2026, indicating a supported evidence range of £148,000–£170,000, subject to differences in condition, size, lease terms and specification. A base GDV of £170,000 is adopted because it is the same recorded address, although the sale is dated. The approximately 78-year lease and required refurbishment may constrain value and financeability. The £100,000 guide represents a substantial discount to the comparable evidence before fees and works, but total project viability cannot be established without quantified refurbishment, legal and selling costs.

Investment Snapshot

Strategy Recommendation

Proceed only after inspection and legal-pack review, with a fully costed refurbishment and confirmation of lease, service charge, ground rent and mortgageability. Do not set a bid ceiling from GDV alone; BTL and BRRR should remain conditional because rent and project costs are unsupported.

Works Required

Refurbishment is required to the vacant one-bedroom flat. Scope should be confirmed by inspection and the legal pack; supported accommodation areas are the reception room, kitchen, bedroom and bathroom. No specific defects, installations or compliance issues are evidenced, so no detailed works allowance is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £170,000 base GDV, 75% refinance is £127,500. However, refurbishment, acquisition, legal, financing and other project costs are unquantified, so cash left in and refinance profitability cannot be calculated. Lease length, service charge, ground rent and title terms should be verified before relying on a BRRR strategy.

Buy-to-Let Analysis

BTL cannot be underwritten from the supplied evidence because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Gross yield, operating costs and net cash flow therefore cannot be established. The approximately 78-year lease should also be checked for lender and tenant-market acceptability.

Flip Analysis

The evidence supports a base resale value of £170,000, with £148,000 as a lower evidenced reference point. A flip surplus cannot be calculated because refurbishment costs, selling costs and other purchase costs are not supplied. The dated same-address comparable and lease length create material valuation and exit uncertainty.

Investor Risks & Due Diligence

• Approximately 78 years remain on the lease, which may affect mortgageability, resale and future lease-extension costs.

• The property is described as needing refurbishment, but the scope and cost are not evidenced.

• No sufficiently specific rental evidence is available, so BTL yield and cash flow cannot be established.

• Buyer premium and several potential acquisition charges are unspecified; only the £1,800 administration charge is known.

• The same-address comparable is from March 2024 and may not represent current achievable value.

• Condition, accommodation differences and title terms may differ from the cited comparables.

Recommendation

Proceed only after inspection and legal-pack review, with a fully costed refurbishment and confirmation of lease, service charge, ground rent and mortgageability. Do not set a bid ceiling from GDV alone; BTL and BRRR should remain conditional because rent and project costs are unsupported.

Strategy Rating

Analysis Confidence

There is useful completed-sale evidence, including one same-address sale, but no rental evidence, refurbishment quotation, lease-cost details, buyer premium, legal costs, service charge, ground rent or selling-cost allowance.