Flat 4 Emporium House, Temple Street, Llandrindod Wells, Powys, LD1 5DL

Description

Investment Opportunity - Third Floor Flat. Mortgagee Not In Possession. Third floor flat located in the town centre of the Victorian Spa Town of Llandrindod Wells in the county of Powys. The flat is on the 3rd floor of a three storey Victorian building with ground floor commercial use. The flat is approximately 60m2 with limited headroom. The flat does require some updating and redecoration.

Accommodation

Living room/kitchen, bedroom, bathroom and separate W.C.

Location

Town centre of the Victorian Spa Town of Llandrindod Wells, in the county of Powys.

Tenure / Property Information

Investment Analysis

The supplied completed sales range from £54,500 to £109,600, including £58,000 for Emporium House in 2010, £75,000 for Emporium Flats in 2014 and £109,600 for Imperial Buildings in 2022. However, the sales are historic and do not identify the exact flat, size, condition, floor or headroom. A defensible current GDV cannot therefore be established from the evidence alone.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious low-entry BTL opportunity if inspection, achieved-rent evidence and the legal pack support the assumptions. Do not bid on a BRRR or flip basis without a confirmed valuation and works budget.

Works Required

Updating and redecoration are stated as required. Inspect the flat and lease before bidding, with particular attention to the limited headroom and the condition of the living room/kitchen, bedroom, bathroom and separate WC. No quantified works allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because no reliable current GDV or refurbishment budget is supported. The long lease is positive, but limited headroom, stated updating requirements, service charge and unknown mortgageability/valuation treatment require inspection and legal review before relying on refinancing.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £325 pcm, producing £3,900 annual gross rent. Against the £29,000 guide, this is a 13.45% gross yield before the £50 pcm service charge, voids, repairs, management, finance and tax. The rent is asking evidence rather than achieved rent, and net yield cannot be established.

Flip Analysis

A flip surplus cannot be calculated. Historic nearby sales provide context but are not sufficiently comparable to establish a current resale value, while works, selling costs and any special auction charges are unknown.

Investor Risks & Due Diligence

• Limited headroom in the third-floor flat may affect usability, tenant demand, mortgageability and resale.

• The flat requires updating and redecoration, but no inspection-based works budget is supplied.

• The £325 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The £50 pcm service charge reduces net income and the leasehold terms may contain further obligations not supplied.

• Buyer premium and the minimum £2,100 administration charge apply, with possible additional special-condition charges, legal fees, search fees, transfer fees or seller-cost reimbursements.

• The property is being sold by a mortgagee not in possession, so condition and occupancy information should be verified through the legal pack and inspection.

Recommendation

Consider only as a cautious low-entry BTL opportunity if inspection, achieved-rent evidence and the legal pack support the assumptions. Do not bid on a BRRR or flip basis without a confirmed valuation and works budget.

Strategy Rating

Analysis Confidence

The guide, lease, service charge, one advertised rent, historic sales and auction charges are supplied, but current GDV, exact comparable condition, achieved rent, EPC, works cost and special-condition costs are not.