Flat 29 Sorrento Court, Wake Green Road, Moseley, Birmingham, B13 9HB

Description

A 1 bedroom retirement flat, for the over 60's, situated on the 2nd floor. The property is conveniently situated on the edge of Moseley Village, which gives easy access to Moseley Train Station, Moseley Park, M&S, and a wide range of independent cafe's/restaurants.

Accommodation

Ground Floor: Communal Entrance with Stairs and Lift Access. First Floor: Flat 29 - Hall, Reception/Dining Room, Kitchen, Bedroom, Shower Room/WC. Outside: Communal Grounds.

Location

Situated on the edge of Moseley Village, with easy access to Moseley Train Station, Moseley Park, M&S, and a wide range of independent cafes/restaurants.

Tenure / Property Information

Investment Analysis

Five completed Land Registry sales at Sorrento Court range from £68,000 to £90,000, with an average of £77,800. These provide relevant building-level evidence, although the supplied data does not confirm that the sold flats matched this flat in size, condition, floor or lease terms. A base GDV of £77,800 is therefore used, with a supported evidence range of £68,000 to £90,000.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming retirement-occupancy, resale, letting, service-charge and ground-rent terms. Treat the guide as non-informative and do not bid without a verified all-in cost and exit strategy.

Works Required

No refurbishment works are evidenced. Inspect the flat, communal areas and legal pack before budgeting; only evidenced remedial or improvement works should be allowed for.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the completed-sale evidence, indicative refinance at 75% of the base GDV is £58,350. A BRRR assessment cannot be completed because purchase price, refurbishment cost, rental income, service charges and other completion costs are not sufficiently evidenced. The approximately 95-year lease and retirement restriction require legal and lender confirmation.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is restricted to over-60s retirement occupation, so the lease and management rules must be checked for letting eligibility and any restrictions. Service charges, ground rent and other leasehold costs are also not supplied.

Flip Analysis

The completed sales indicate a base GDV of £77,800, but no refurbishment budget, purchase price, selling allowance or complete additional-cost schedule is supplied. A reliable flip surplus and maximum bid therefore cannot be calculated. The £2,700 administration charge is known, while additional special-condition costs remain unknown.

Investor Risks & Due Diligence

• Approximately 95 years remain on the lease, with full lease terms not supplied.

• Retirement occupation is stated to be for over-60s; letting, resale and occupancy restrictions require confirmation.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• Refurbishment condition and costs are not evidenced.

• The £2,700 administration charge is payable, while additional legal-pack costs are unknown.

• Leasehold service charges, ground rent and other recurring costs are not supplied.

• Electric heating is installed and its operating condition and costs are not evidenced.

Recommendation

Proceed only after reviewing the legal pack and confirming retirement-occupancy, resale, letting, service-charge and ground-rent terms. Treat the guide as non-informative and do not bid without a verified all-in cost and exit strategy.

Strategy Rating

Analysis Confidence

There are five relevant completed sales and clear tenure, occupancy and lease information, but no rent, condition, refurbishment, service-charge, ground-rent, special-condition or full-cost evidence.