Flat 24, 24 The Crescent, Plymouth, Devon PL1 3FG

Description

The flat provides generous accommodation, the open plan living room measures 31'10" x 13'9" and opens onto the large balcony. Benefits include under-floor heating and contemporary kitchen and bathroom fittings.

Accommodation

Fourth Floor: Entrance hall, large open plan kitchen / living space with doors to the balcony, spacious bedroom with balcony access, bathroom.

Location

The block is well located, close to Plymouth Hoe, with a wide range of cafes, bars and restaurants nearby. Plymouth Station 0.6 miles.

Tenure / Property Information

Investment Analysis

Five completed sales recorded at the same address range from £75,000 to £118,000. The latest supplied sale was £100,000 in December 2024. A base GDV of £100,000 is used, with £75,000 low and £118,000 high scenarios. These are indicative only because the evidence does not confirm that all sales relate to the same flat, nor does it provide current lease, service-charge, condition or title information.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal, lease, service-charge, title and condition due diligence. Treat resale as the only potentially assessable strategy from the evidence, but set a bid ceiling only after all missing costs and the relevant flat’s market value are verified.

Works Required

No specific repair or refurbishment works are evidenced. The description indicates contemporary kitchen and bathroom fittings and under-floor heating. Obtain a survey, inspect communal areas and verify whether any works, service-charge arrears or major works liabilities apply.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £70,000 guide, the minimum buyer fee is £3,600, before any works, finance, legal costs or other special-condition charges. A 75% refinance of the £100,000 base GDV would be £75,000, but total project cost and cash left in cannot be calculated because refurbishment, finance and other costs are unsupported. Lease and lenderability checks are essential.

Buy-to-Let Analysis

BTL cannot be assessed reliably because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Lease terms, service charge, ground rent, council tax and other ownership costs are also unavailable. Do not rely on a rental strategy without verified local rent and full lease-cost information.

Flip Analysis

The supplied completed-sale evidence supports an indicative base resale value of £100,000, with a broad £75,000–£118,000 range. A flip surplus cannot be calculated because refurbishment, selling, finance, legal and other project costs are not supplied. The apparent guide-price discount should not be treated as profit.

Investor Risks & Due Diligence

• The property tenure, lease length, ground rent and service-charge obligations are not supplied.

• Potential major works, service-charge arrears or block liabilities cannot be assessed.

• No reliable rent evidence is available, so BTL yield and coverage cannot be established.

• The comparable sales may not all relate to the same flat or identical specification.

• Buyer fee is at least £3,600 at the £70,000 guide, with possible additional special-condition charges.

• Refinance value and lenderability may be affected by missing lease and building information.

Recommendation

Proceed only subject to satisfactory legal, lease, service-charge, title and condition due diligence. Treat resale as the only potentially assessable strategy from the evidence, but set a bid ceiling only after all missing costs and the relevant flat’s market value are verified.

Strategy Rating

Analysis Confidence

There are five completed sales at the recorded address, but rental evidence, lease details, occupancy, condition costs, service charges, ground rent, EPC and special-condition costs are missing.