Flat 3, 74 Osborne Road, Farnborough, Hampshire

Description

One-bedroom leasehold flat in need of improvement with share of freehold. The flat is accessed via a communal entrance on the ground floor, with the property entrance located on the first floor. Stairs within the flat lead to the remainder of the accommodation on the second floor. To the rear of the building, there is an off-road parking area providing parking for the flat.

Accommodation

First floor: entrance lobby and stairs leading to second floor. Second floor: landing, living room, bedroom, kitchen and bathroom with W.C.

Location

Located in the North Camp area of Farnborough, close to Farnborough Airport and local amenities. Farnborough town centre is nearby, offering local and national retailers and Farnborough College of Technology. The A331 and M3 motorway are also within close proximity.

Tenure / Property Information

Investment Analysis

No completed-sale comparables or formal valuation evidence were supplied. The £120,000–£140,000 guide is an auction guide only and cannot establish market value or GDV. The property is a vacant one-bedroom leasehold flat with a one-third share of freehold and off-road parking, but the scope and cost of improvement are not quantified.

Investment Snapshot

Strategy Recommendation

Proceed only subject to viewing, legal and lease review, confirmation of the parking and freehold arrangements, and firm improvement quotations. Treat as a potential hold rather than a proven flip or BRRR project, and maintain a strict bid limit because value, costs and rent are weakly evidenced.

Works Required

Assess the flat’s current condition and obtain contractor quotations for the unspecified improvements. No specific defects or works scope are evidenced, so no refurbishment allowance is included.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because GDV, refurbishment cost, finance costs and refinance terms are unsupported. The 999-year lease remainder and share of freehold are positive tenure features, but valuation and refinance capacity require evidence and due diligence.

Buy-to-Let Analysis

The supplied rental evidence is one advertised asking rent of £400 pcm for a one-bedroom property in GU14, not achieved rent for this flat. At the £120,000–£140,000 guide range, this implies approximately 4.00% to 3.43% gross yield before finance, service charges, maintenance, voids, management, tax and auction costs. Net yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated because there is no completed-sales evidence, supported GDV, quantified works budget or supported selling-cost allowance. The guide price alone is insufficient to demonstrate resale margin.

Investor Risks & Due Diligence

• The scope and cost of the required improvements are unspecified.

• No completed-sale comparables or formal market valuation are provided.

• The £400 pcm figure is an advertised asking rent for another property, not achieved rent for this flat.

• Buyer administration, other non-optional fees, searches, Stamp Duty, Land Registry fees and VAT may apply, but amounts are not supplied.

• Heating details are not supplied.

• Service charges and other lease-related costs are not supplied.

• The exact legal and practical arrangements for the one-third share of freehold and rear parking should be verified before bidding.

Recommendation

Proceed only subject to viewing, legal and lease review, confirmation of the parking and freehold arrangements, and firm improvement quotations. Treat as a potential hold rather than a proven flip or BRRR project, and maintain a strict bid limit because value, costs and rent are weakly evidenced.

Strategy Rating

Analysis Confidence

Property description, tenure, guide range and one asking-rent listing are supplied, but there are no sold comparables, GDV evidence, quantified works, service-charge information, auction fee amounts or achieved-rent evidence.