Flat 4, 42, The Esplanade, Frinton On Sea, Essex, CO13 9JD

Description

A two-bedroom apartment within a seafront art deco inspired building, presented to a high standard having being built in 2023. Vacant.

Accommodation

First Floor - Open Plan Kitchen/Living Room, Two Bedrooms, Private Terrace, Bathroom/WC

Location

The property occupies a prominent seafront position on The Esplanade in the highly regarded coastal town of Frinton-on-Sea. The town centre is within easy reach and provides a good range of shopping facilities, cafés, restaurants and everyday amenities. The property's location enjoys direct access to the beach and seafront promenade. Transport links are provided by Frinton-on-Sea railway station, offering services to Colchester, Chelmsford and London Liverpool Street. Road communications are available via the A133 and the wider Essex road network.

Tenure / Property Information

Investment Analysis

The evidence supports a wide value range. Same-address leasehold flat/maisonette sales include £720,000 in October 2024 and £1,075,000 in June 2024; a neighbouring Esplanade Court sale was £850,000 in July 2026. Older same-address sales at £280,000 may not be comparable to this 2023-built apartment. Because floor area, exact comparable specifications, service charge and the applicability of the sales to this individual flat are not supplied, £720,000 is used as a cautious base GDV rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to full legal and valuation due diligence. The property appears more suitable for a long-term BTL or BRRR appraisal than an assumed flip, but the bid should be based on verified comparable evidence, lease/service-charge information and all auction fees.

Works Required

No refurbishment works are evidenced: the apartment was built in 2023 and is described as presented to a high standard. Allow for inspection and verification of the apartment, garage, terrace, lease, service charge and communal areas, but no works budget can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £720,000 base GDV, 75% refinance equates to £540,000. This indicates substantial theoretical refinance headroom over the £300,000 guide, but cash left in cannot be calculated because buyer charges, VAT treatment, service charges and any works allowance are not supplied. The GDV also requires validation because the comparable sales are not matched by size or detailed specification.

Buy-to-Let Analysis

The advertised asking rent is £1,295 pcm, equating to £15,540 per year. Against the £300,000 guide, the gross yield is approximately 5.18% before buyer premium, VAT, finance, service charge, management, maintenance and voids. The rent is an asking figure rather than achieved rent, and service-charge and other ownership costs are unavailable, so net yield cannot be established.

Flip Analysis

There is a substantial apparent spread between the £300,000 guide and the £720,000 base GDV, but this is not a reliable flip surplus calculation. Total acquisition costs, buyer premium, VAT, selling costs, finance costs and a directly comparable individual-flat valuation are unavailable. The older £280,000 and higher £1,075,000 sales demonstrate material comparability and valuation risk.

Investor Risks & Due Diligence

• Same-address comparable sales range from £280,000 to £1,075,000, creating significant valuation uncertainty.

• The supplied sold comparables are not confirmed as directly comparable to this specific two-bedroom apartment by floor area, outlook, terrace, garage or specification.

• Buyer premium, VAT treatment and any seller charges are unknown.

• Service charge, ground rent and reserve-fund information are not supplied.

• The £1,295 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The property is leasehold despite the long stated term, and lease, management and communal-cost details require verification.

• No refurbishment or total project-cost allowance can be established from the evidence.

Recommendation

Proceed only subject to full legal and valuation due diligence. The property appears more suitable for a long-term BTL or BRRR appraisal than an assumed flip, but the bid should be based on verified comparable evidence, lease/service-charge information and all auction fees.

Strategy Rating

Analysis Confidence

There is useful same-address sale evidence and one advertised two-bedroom rent, but the comparables have widely varying prices and lack size/specification detail. Buyer fees, VAT, service charge, heating, council tax, works costs and finance assumptions are also missing.