Flat 22, The Peninsula, Pegasus Way, Gillingham, Kent

Description

Long leasehold purpose built self-contained flat. By order of the LPA Receivers.

Accommodation

Fourth floor: master bedroom with en-suite shower room/WC, second bedroom, open plan reception room with balcony and kitchen, bathroom/WC, utility and hallway. Gross Internal Area: approximately 62 sq m (668 sq ft).

Location

The property is situated within The Peninsula on Pegasus Way in the Victory Pier waterfront development. Gillingham Mainline Rail Station and local bus services are nearby. Rail services provide access to London St Pancras International, Stratford International and Central London via High Speed services. Road links include the A2 and M2. Shopping amenities are available in Gillingham Town Centre, Chatham Maritime and Hempstead Valley Shopping Centre. Recreational facilities include Riverside Country Park, The Strand Leisure Park and waterfront walks along the River Medway.

Tenure / Property Information

Investment Analysis

Recent completed sales within The Peninsula range from £190,000 to £250,000, including £223,000 and £250,000 sales in 2025. As the comparable flat sizes, floors, condition, parking and service charges are not supplied, a supported scenario range is £190,000–£250,000. A cautious base GDV of £223,000 is used, subject to inspection and confirmation of the flat’s exact specification.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or value-led purchase at or near guide, subject to confirming service charge, ground rent, special conditions, parking, achieved rent and the flat’s condition. Do not rely on the headline GDV or refinance calculation until leasehold costs and the exact comparable specification are verified.

Works Required

No specific defects or refurbishment requirements are evidenced. Inspect the flat and confirm whether any cleaning, redecoration, repairs or compliance works are required before budgeting. Confirm service charge, ground rent, parking and heating arrangements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £160,000 guide plus the known £1,800 documentation fee, the purchase price is below the £223,000 base GDV indication before any works, seller fees, finance and other acquisition costs. A 75% refinance against the base GDV would be approximately £167,250. However, refurbishment costs, service charges, seller fees, valuation outcomes and lending assumptions are unknown, so cash left in and project equity cannot be reliably calculated.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,450 pcm, equivalent to £17,400 annually. This represents a gross yield of approximately 10.88% against the £160,000 guide, before the £1,800 contract documentation fee, service charge, ground rent, finance, tax, maintenance and other costs. The gross yield range against the evidence-supported £190,000–£250,000 GDV range is approximately 6.96%–9.16%. Actual achieved rent and annual leasehold costs are unconfirmed.

Flip Analysis

A base GDV of £223,000 is supported by nearby completed sales, but the comparables do not establish identical size, floor, condition or parking. A resale surplus cannot be calculated reliably because refurbishment requirements and selling costs are unsupported. The £1,800 documentation fee is known, while additional seller charges may apply.

Investor Risks & Due Diligence

• Annual service charge, ground rent and review details are unknown.

• The £1,450 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Comparable sales do not provide size, floor, condition, parking or specification details for direct adjustment.

• The flat’s condition and any required works are not evidenced.

• The seller may charge additional fees under the special conditions of sale.

• Parking and heating arrangements require confirmation.

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

Recommendation

Investigate as a potential buy-to-let or value-led purchase at or near guide, subject to confirming service charge, ground rent, special conditions, parking, achieved rent and the flat’s condition. Do not rely on the headline GDV or refinance calculation until leasehold costs and the exact comparable specification are verified.

Strategy Rating

Analysis Confidence

There are several same-development completed sales, one rental asking listing, a long lease and a known buyer documentation fee. Confidence is reduced because comparable specifications, actual rent, service charge, ground rent, seller fees, condition, parking and heating details are not supplied.