Flat 45, 125, Albion Street, Leeds, West Yorkshire, LS2 8ES

Description

Leasehold eleventh floor flat

Accommodation

Principal bedroom with ensuite, one further bedroom, reception room open plan to kitchen, bathroom/wc

Location

The property is located on Albion Street. Shopping amenities can be found locally within Leeds City Centre. Public transport links are available at Leeds Train Station to the south along with a network of local bus services serving the surrounding areas. The property is served by road links including the A58 and A64 both lying to the north. Recreational pursuits can be found at Lovell Park to the north east.

Tenure / Property Information

Investment Analysis

The five supplied HM Land Registry sales are all recorded at 125 Albion Street and range from £175,000 to £250,000, with the latest sale at £238,000 in May 2024. The evidence does not identify the exact flat numbers or confirm condition, service charge, ground rent or any seller costs. A cautious evidence-based scenario range is £175,000–£250,000, with £238,000 used as the base GDV by reference to the latest supplied sale.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the exact comparable flat details, achievable rent, service charge, ground rent, special conditions and condition. At the guide, investigate as a potential BTL or value opportunity, but do not bid without a complete cost schedule.

Works Required

No refurbishment works are evidenced in the supplied information. Budget and inspect only confirmed requirements after viewing, including any leasehold or communal-area issues; service charge, ground rent and seller costs must be obtained before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the latest supplied comparable as base GDV, 75% refinancing would be approximately £178,500. However, works costs, service charge, ground rent, seller fees and other acquisition costs are unknown, so cash left in and refinance feasibility cannot be calculated reliably. The long stated remaining lease is favourable, subject to verification of the lease and charges.

Buy-to-Let Analysis

Advertised rental evidence ranges from £800 to £1,800 pcm, but these are asking rents and the spread is substantial. On the £170,000 guide, the gross yield range is approximately 5.65%–12.71% before service charge, ground rent, management, maintenance, voids, finance and tax. A reliable base BTL yield cannot be established until the achievable rent and leasehold charges are verified.

Flip Analysis

The supplied sales indicate potential value above the £170,000 guide, but they are not identified by exact flat number and no condition or selling-cost evidence is provided. A dependable flip surplus cannot be calculated because refurbishment, acquisition and resale costs are unsupported.

Investor Risks & Due Diligence

• The supplied completed sales do not identify the exact flat numbers, so comparability is uncertain.

• Annual service charge and ground rent are not provided.

• The two advertised rents differ materially and are asking rents rather than achieved rents.

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

• Refurbishment and condition information is insufficient to estimate works costs.

• Lease terms, ground rent provisions and remaining term should be verified from the legal pack.

Recommendation

Proceed only after confirming the exact comparable flat details, achievable rent, service charge, ground rent, special conditions and condition. At the guide, investigate as a potential BTL or value opportunity, but do not bid without a complete cost schedule.

Strategy Rating

Analysis Confidence

There are multiple same-address completed sales and two rental advertisements, but exact flat comparability, condition, leasehold charges, seller fees and achievable rent are unresolved.