Flat 301, 1 Brewery Wharf, Waterloo Street, LEEDS, West Yorkshire, LS10 1GY

Description

A prime opportunity for cash investors to acquire this third-floor vacant, two-bedroom, two-bathroom apartment within the Brewery Wharf development, an established riverside location. The property has an open-plan living and kitchen area with access to a private balcony, two double bedrooms, a master suite with en-suite shower room and dressing or study area, and a separate bathroom. The apartment is offered with full vacant possession. Brewery Wharf has an EWS1 certificate with a B1 rating.

Accommodation

Ground Floor: Communal Concierge Reception Area. Third Floor: Reception Hall, Open Plan Kitchen/Dining/Living Room with Balcony, Two Bedrooms, One with an En-suite and Additional Bathroom. External: Balcony.

Location

Brewery Wharf development, Leeds city centre, close to the financial district and waterfront amenities.

Tenure / Property Information

Investment Analysis

The five supplied completed sales at the same development range from £86,500 to £190,000, with a median of £132,000. The wide range may reflect differences between individual flats, but no unit-specific details or floor-area evidence are supplied. A base GDV of £132,000 is therefore used, with £86,500 as a low scenario and £190,000 as a high scenario. The guide price is £80,000, subject to the £1,800 buyer administration charge and any additional seller fees.

Investment Snapshot

Strategy Recommendation

Potential value-led acquisition or BRRR candidate at the guide, but proceed only after confirming the specific flat's condition, achievable rent, leasehold charges, special conditions and total auction costs. Do not underwrite on the base GDV alone given the wide comparable range.

Works Required

No refurbishment defects or required works are evidenced. Allow for inspection, cleaning and any minor purchaser-identified works only after viewing; no refurbishment allowance has been included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £80,000 guide plus the known £1,800 administration charge and no evidenced works allowance, the analysed cost is £81,800 before finance, tax and other fees. A 75% refinance of the £132,000 base GDV is £99,000, implying £17,200 cash released before refinance costs, subject to lender valuation, eligibility and actual achievable GDV. Rental affordability and lender treatment of the leasehold charges remain unverified.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The annual £3,154.88 service charge and £578.76 ground rent would reduce net returns, and any letting, finance, tax and other ownership costs are not provided.

Flip Analysis

Using the £132,000 base GDV and £81,800 of guide-price, known administration cost and no evidenced works, the gross difference is £50,200 before selling costs, finance, tax, legal costs and any additional seller fees. A formal flip surplus cannot be calculated because no supported selling allowance or full project-cost evidence is supplied.

Investor Risks & Due Diligence

• Wide range of supplied completed sales, from £86,500 to £190,000, creates uncertainty over the applicable GDV.

• No sufficiently specific rental evidence is available, so BTL yield and rental coverage cannot be verified.

• Current service charge is £3,154.88 per annum and ground rent is £578.76 per annum, reducing net investment returns.

• The £1,800 buyer administration charge is known, but additional seller fees may apply under the special conditions.

• No condition report or refurbishment requirements are supplied; actual works and costs are unknown.

• Leasehold ownership requires ongoing service-charge and ground-rent payments despite the stated 978 years remaining.

• Refinance figures depend on lender valuation, loan eligibility and the achievable property value.

Recommendation

Potential value-led acquisition or BRRR candidate at the guide, but proceed only after confirming the specific flat's condition, achievable rent, leasehold charges, special conditions and total auction costs. Do not underwrite on the base GDV alone given the wide comparable range.

Strategy Rating

Analysis Confidence

Completed sales and leasehold/occupancy information are supplied, but the comparables are not unit-specific, rental evidence is absent, condition is not evidenced, and buyer/seller and project costs are incomplete.