Flat 4, Phoenix House, 3 Berridge Street, Leicester, Leicestershire

Description

A two bedroom second floor apartment located in Leicester city centre, close to an abundance of amenities and transport links. The train station is located close by with regular services to London St Pancras. There is a grand entrance hall which has an entry phone and benefits from a lift to all floors. The accommodation comprises, an entrance hallway, open plan kitchen/living/dining, two bedrooms and a four-piece bathroom. The property is being sold with the benefit of vacant possession and therefore will appeal to either an owner occupier or a buy to let investor. There is scope to achieve a rental income within the region of £1,000-£1,200pcm. The property also has the benefit of a long lease length, being 999 years from 1 April 2002.

Accommodation

Second Floor: an entrance hallway, open plan kitchen/living/dining, two bedrooms and a four-piece bathroom

Location

Leicester city centre, close to amenities, transport links and Leicester train station, with regular services to London St Pancras.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed £69,000 sale at Phoenix House dated 16 January 2026. Other sales at the address range from £105,000 to £165,000 but are older and do not identify the specific flat, so they are not directly comparable. A cautious base GDV of £69,000 is used, subject to confirmation of the flat's condition, size, service charge and exact comparable details.

Investment Snapshot

Strategy Recommendation

Potential low-entry BTL, subject to confirming achievable rent, service charge, lease terms, condition, EPC, parking and all special-condition fees. Do not rely on the older £105,000-£165,000 sales without flat-specific evidence.

Works Required

No defects or refurbishment requirements are stated. Arrange a full inspection and budget only for works confirmed by survey, together with checks on heating, parking, EPC, communal areas and leasehold obligations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious £69,000 base GDV, a 75% refinance would be approximately £51,750. Against the £51,800 guide purchase plus known administration charge, the indicative funding gap is approximately £50 before finance, tax, works and other costs. The outcome is highly dependent on the valuation being achievable for this specific flat and on undisclosed leasehold costs.

Buy-to-Let Analysis

At the £50,000 guide, the supplied rent range of £1,000-£1,200 pcm implies gross yields of approximately 24.0%-28.8%. Using the £995 advertised comparable and the auctioneer estimate, the rent evidence is attractive relative to the guide, but actual rent, service charges, letting costs, voids and compliance costs are unconfirmed. The calculated total cost includes the £1,800 buyer administration charge but excludes unknown seller fees and all works.

Flip Analysis

A guide purchase of £50,000 compares with the £69,000 recent same-building sale, leaving a gross difference of £19,000 before works, selling costs, finance, tax and any seller fees. No refurbishment budget or supported selling allowance is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The most recent same-building completed sale is £69,000, but the evidence does not confirm it was the same flat or an equivalent unit.

• The £1,000-£1,200 pcm figure is an auctioneer estimate and the £995 figure is an advertised asking rent, not achieved rent.

• Condition and refurbishment requirements are unknown.

• Service charge, ground rent, reserve fund and other leasehold costs are not supplied.

• EPC, heating and parking information remain unconfirmed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• The base cost excludes finance, tax, selling costs and any works.

Recommendation

Potential low-entry BTL, subject to confirming achievable rent, service charge, lease terms, condition, EPC, parking and all special-condition fees. Do not rely on the older £105,000-£165,000 sales without flat-specific evidence.

Strategy Rating

Analysis Confidence

The property description, guide, lease length and rent indications are supplied, but condition, service charge, EPC, exact flat-specific comparables, seller fees and works requirements are unavailable.