Flat 3, 88 Ditchling Rise, Brighton, BN1 4QQ

Description

A one bedroom flat on the first floor of this period end-terraced building close to London Road station, Preston Park and to the north of the city centre and seafront. The property requires remedial work and upgrading.

Accommodation

First Floor: Entrance Hall, reception room, steps down to kitchen, bedroom, bathroom.

Location

Close to London Road station, Preston Park and to the north of the city centre and seafront.

Tenure / Property Information

Investment Analysis

Sold evidence on Ditchling Rise ranges from £205,000 to £250,000 for leasehold flats/maisonettes, with a £225,000 sale at number 94 providing a central reference. As bedroom counts, floor areas, condition and specification are not supplied for the comparables, the £225,000 base GDV is indicative only. A supported scenario range is £205,000–£250,000. The subject requires remedial work and upgrading, but no works budget can be established from the evidence.

Investment Snapshot

Strategy Recommendation

Potentially suitable for BTL or BRRR at or near the guide, subject to inspection, confirmation of the remedial scope, lease and service-charge review, and verification that the £1,500 pcm asking rent is achievable. Do not set a maximum bid without a quantified works budget and full auction costs.

Works Required

Remedial work and upgrading as required by the property description. The evidence does not identify specific defects, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £225,000 base GDV, 75% refinancing equates to £168,750. The apparent refinance headroom over the £125,000 guide is £43,750 before the £1,500 administration charge, refurbishment, other costs and finance. Total project cost and cash left in cannot be calculated because no refurbishment allowance or full fee schedule is supplied.

Buy-to-Let Analysis

The advertised asking rent of £1,500 pcm implies £18,000 annual gross rent and a 14.4% gross yield against the £125,000 guide price. This is before refurbishment, the £1,500 administration charge, other auction costs, finance, service charges, voids and management. It is an asking rent rather than achieved rent, and the absence of service-charge and works information prevents a fully costed BTL assessment.

Flip Analysis

The indicative base GDV is £225,000, with an evidence-supported range of £205,000–£250,000. A flip surplus cannot be calculated because refurbishment costs, full acquisition costs and selling costs are not supplied. The remedial and upgrading requirement creates execution and margin risk.

Investor Risks & Due Diligence

• Remedial work and upgrading are required, but the defects and cost are unspecified.

• Comparable sale details do not include bedroom counts, floor areas or condition, limiting GDV precision.

• The £1,500 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The £1,500 contract administration charge is payable on exchange, and additional fees may apply.

• Service charges, ground rent, building insurance and other lease costs are not supplied.

• The lease is stated to commence on 12/11/2026; the final lease documentation and terms should be reviewed before bidding.

• EPC rating is D.

Recommendation

Potentially suitable for BTL or BRRR at or near the guide, subject to inspection, confirmation of the remedial scope, lease and service-charge review, and verification that the £1,500 pcm asking rent is achievable. Do not set a maximum bid without a quantified works budget and full auction costs.

Strategy Rating

Analysis Confidence

There is useful local sold-price evidence, a guide price and one advertised rent, but comparable property details, refurbishment costs, service charges, full auction fees and achieved-rent evidence are absent.