Flat 3, 13 St George's Place, City Centre, Bath BA1 3AA

Description

A leasehold flat occupying the first floor of a Grade II Listed Georgian townhouse, comprising a renovated one-bedroom flat with open-plan kitchen/living space, separate double bedroom and bathroom. Previously let for many years and now vacant, with recent renovation and ready for immediate occupation.

Accommodation

Open-plan kitchen/living space, separate double bedroom and bathroom

Location

Situated in the heart of Bath, approximately 0.3 miles from Queen Square and the city centre, 0.1 miles from Royal Victoria Park, approximately 0.7 miles from Bath Spa Railway Station, with nearby access via Victoria Bridge to Bath Riverside. Excellent bicycle and bus routes to the city centre.

Tenure / Property Information

Investment Analysis

Comparable evidence supports a market value range of £205,000 to £236,500. The strongest evidence is the same-address sale at £205,000 in June 2025; the £236,500 sale at 11B provides an upper reference. A £220,000 base GDV is used as an estimate, subject to confirmation that the comparables are sufficiently similar in size, floor area and specification.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let at the guide price, subject to lease review, confirmation of the £220 pcm management charge and validation of achievable rent. The apparent refinance margin is attractive, but the guide is stated as £115,000 +++ and auction bidding may materially increase the purchase price.

Works Required

No refurbishment works are identified: the flat is described as recently renovated and ready for immediate occupation. Allowance is therefore £0 for refurbishment, excluding any unreported repairs, furnishing, compliance or letting costs.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £115,000 guide plus the £1,800 buyer premium and no identified refurbishment allowance, estimated total cost is £116,800. A 75% refinance against the £220,000 base GDV would be approximately £165,000, indicating £48,200 of surplus before finance, tax and other costs. Actual refinancing depends on lender valuation, affordability and leasehold criteria.

Buy-to-Let Analysis

Using a midpoint advertised rent of £1,300 pcm gives £15,600 annual gross rent. Gross yield is approximately 13.57% on the £115,000 guide and 13.36% including the £1,800 buyer premium. The £220 pcm management fee is £2,640 annually, reducing rent before other costs to £12,960; the rental evidence is advertised asking rent rather than achieved rent.

Flip Analysis

Using the £220,000 base GDV against £116,800 of purchase and known buyer cost indicates £103,200 gross equity before selling costs, tax, finance and any works. No supported selling allowance has been provided, so a net flip surplus cannot be established.

Investor Risks & Due Diligence

• The guide is £115,000 +++, so the final purchase price may exceed the analysis figure.

• The £220 pcm management fee is a significant ongoing leasehold cost; other leasehold charges are not supplied.

• Rental evidence is advertised asking rent rather than achieved rent, and the auctioneer has provided no rent estimate.

• Comparable sale prices vary materially and the supplied evidence does not confirm floor areas or exact specification.

• The property is in a Grade II Listed Georgian townhouse, which may constrain future alterations or works.

• The £6,800 security deposit is payable during registration; its treatment and timing should be confirmed from the auction terms.

• Refinance value and loan availability are not guaranteed and depend on lender valuation and underwriting.

Recommendation

Potential buy-to-let at the guide price, subject to lease review, confirmation of the £220 pcm management charge and validation of achievable rent. The apparent refinance margin is attractive, but the guide is stated as £115,000 +++ and auction bidding may materially increase the purchase price.

Strategy Rating

Analysis Confidence

The analysis has a same-address sold comparable, additional local sold evidence, advertised rents, stated lease terms, management fee and buyer premium. Confidence is reduced because achieved rent, floor area, legal-pack details, service-charge inclusions and final auction price are not supplied.