Flat 41, Homeborough House, Brinton Lane, Hythe, Southampton, SO45 6EE

Description

This flat is located in Homeborough House, a purpose-built retirement block for residents aged over 60. Situated on Brinton Lane, close to the centre of Hythe, which offers many local amenities. There are good road and bus networks to larger surrounding towns and the city of Southampton. Hythe is located on the edge of The New Forest, with local beaches and The Solent a short distance away.

Accommodation

Second Floor: Entrance hall, living room, kitchen, bedroom, bathroom with W.C and shower.

Location

Homeborough House is situated on Brinton Lane, close to the centre of Hythe. There are good road and bus networks to larger surrounding towns and the city of Southampton. Hythe is located on the edge of The New Forest, with local beaches and The Solent a short distance away.

Tenure / Property Information

Investment Analysis

Five completed sales in the same building range from £100,000 to £170,000, with a median of £110,000. The £170,000 sale is materially above the other evidence and may represent a different flat or specification; no bedroom, size, floor or condition details are supplied. A base GDV of £110,000 is therefore used, with £105,000 as a low scenario and £170,000 as a high evidence-supported scenario, but valuation confidence is limited.

Investment Snapshot

Strategy Recommendation

Do not bid solely on the apparent discount. Proceed only after confirming the remaining lease, retirement occupancy restrictions, service-charge history, resaleability, all auction fees and flat-specific condition; otherwise avoid.

Works Required

No refurbishment works are evidenced. Confirm condition, lease terms, building/management information and any required works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £25,000 midpoint of the guide range and no quantified works allowance, the illustrative base cost is £25,000. At a £110,000 base GDV, 75% refinance equates to £82,500 and indicates £57,500 of nominal cash released before finance, tax, fees and any works. This is highly provisional because lease length, service charges, fees, rent and condition materially affect refinanceability.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property is in a retirement block for residents aged over 60, so letting eligibility and demand must be verified. The stated service charge is £1,883.19 every six months (£3,766.38 annually), before other ownership and finance costs.

Flip Analysis

A base GDV of £110,000 against the illustrative £25,000 purchase-only cost suggests substantial gross headroom, but no refurbishment allowance, selling costs, auction fees, finance costs or tax can be supported. The same-building comparables lack flat-specific details and range widely, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The lease began on 1 September 1984 and has an approximately 57-year remainder as at October 2026, which may restrict mortgageability and resale.

• The service charge is £1,883.19 every six months and could materially reduce investment returns.

• The property is in a retirement block for residents aged over 60; eligibility and letting restrictions must be verified.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Administration fees and other non-optional buyer costs may be payable, but amounts are not supplied.

• Same-building sold prices range from £100,000 to £170,000 and lack bedroom, size, floor and condition details, creating valuation uncertainty.

Recommendation

Do not bid solely on the apparent discount. Proceed only after confirming the remaining lease, retirement occupancy restrictions, service-charge history, resaleability, all auction fees and flat-specific condition; otherwise avoid.

Strategy Rating

Analysis Confidence

There are five recent completed sales in the same building, but they lack flat-specific attributes and vary materially. Rental evidence, condition, floor area, auction fees, buyer premium and detailed lease/service-charge information are incomplete.