Flat 4 Arlington House 54-56, Cheltenham, Gloucestershire, GL53 7HJ

Description

A two bedroom top floor apartment situated in Cheltenham. The accommodation comprises an entrance hall, living/dining room, kitchen, two bedrooms and a shower room.

Accommodation

Entrance Hall; Living/Dining Room: 14'5" x 13'5"; Kitchen: 10'10" x 6'7"; Bedroom One: 12'9" x 9'2"; Bedroom Two: 9'0" x 8'10"; Shower Room.

Location

Cheltenham, Gloucestershire

Tenure / Property Information

Investment Analysis

HM Land Registry evidence includes three relatively recent sales at or around Arlington House/Playhouse Court from £162,500 to £169,975, including two Arlington House sales at £167,500 and £169,975. Older sales at £195,000 and £210,000 provide wider context but may be less representative. A base GDV of £167,500 is supported by the recent same-building evidence, with a current evidence range of £162,500 to £169,975. The guide is £22,500 below base GDV before allowing for works, finance, tax, selling costs or other auction costs.

Investment Snapshot

Strategy Recommendation

Potential value purchase at the guide based on recent same-building sales, but proceed only after legal, leasehold, condition and cost due diligence. BTL suitability cannot be confirmed without rent evidence; the apparent value margin is not sufficient to rely on without a works and selling-cost assessment.

Works Required

No refurbishment works are evidenced in the supplied information. Allow for inspection and verification of the apartment, lease, common parts and services before bidding; no numerical works allowance is included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £145,000 guide plus the known £1,200 buyer premium and £1,200 administration charge gives a base analysed cost of £147,400, excluding unknown legal, search, transfer and other costs. At a £167,500 base GDV, 75% refinancing equates to £125,625, leaving indicative cash of £21,775 before finance, tax and refinancing costs. Actual refinance depends on lender valuation and criteria.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The approximately £1,500 annual service charge and £100 annual ground rent would also need to be considered, alongside finance, maintenance, voids, management and compliance costs.

Flip Analysis

At the guide, the base GDV implies a gross spread of £20,100 after the £2,400 known buyer and administration charges, before selling costs, finance, tax, legal costs, unknown auction costs and any works. A net flip surplus cannot be established because no selling allowance or refurbishment cost is supported.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is available, so rental yield and cash flow cannot be assessed.

• Leasehold costs include approximately £1,500 annual service charge and £100 annual ground rent, with service-charge terms and future liabilities not supplied.

• Additional search fees, seller-cost reimbursement, legal fees, transfer fees and other auction costs may apply but are unquantified.

• No condition survey or refurbishment specification is supplied, so works and associated costs are unknown.

• Recent comparables are evidence of completed sales but may not exactly match the subject apartment's size, condition, floor or specification.

• Refinance depends on lender valuation, lending criteria and costs, none of which are supplied.

Recommendation

Potential value purchase at the guide based on recent same-building sales, but proceed only after legal, leasehold, condition and cost due diligence. BTL suitability cannot be confirmed without rent evidence; the apparent value margin is not sufficient to rely on without a works and selling-cost assessment.

Strategy Rating

Analysis Confidence

Recent same-building sold evidence supports a market-value range, but there is no rental evidence, condition survey, council tax, parking or heating information, and several auction-related costs remain unspecified.