Flat 4A, 21 The Renown, Shoeburyness, Shoeburyness, Essex, SS3 9UU

Description

BUY TO LET INVESTMENT: A LEASEHOLD ONE BEDROOM GROUND FLOOR FLAT WITH TENANT IN SITU AN IDEAL BUY TO LET INVESTMENT WITH 8% YIELD OF THE GUIDE PRICE. A spacious one bedroom ground floor flat which is let and close to local amenities such as shops and restaurants. The flat is a 15 minute walk to Shoeburyness Railway station and a 20 minute walk from East Beach. It is considered that the property would be an ideal buy to let investment.

Accommodation

Entrance Hall; Lounge/Diner - 16'7 x 12'4; Kitchen - 9'4 x 5'8; Bedroom - 14'7 x 8'1; Bathroom/WC - 10'10 x 5'8

Location

Close to local amenities such as shops and restaurants; 15 minute walk to Shoeburyness Railway station; 20 minute walk from East Beach.

Tenure / Property Information

Investment Analysis

Same-address completed sales range from £71,000 to £102,000, with the latest supplied sale at £102,000 on 25 March 2025. A base GDV of £102,000 is supported, although the comparables are not identified by individual flat number.

Investment Snapshot

Strategy Recommendation

Consider as a buy-to-let only after verifying the AST, passing rent, leasehold charges and all auction costs. Do not rely solely on the advertised 8% yield.

Works Required

No refurbishment works or defects are evidenced. Verify condition, tenancy documents, service charges and leasehold obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the £102,000 base GDV indicates £76,500. BRRR cash requirements cannot be established because refurbishment costs, purchase fees and the tenant’s actual rent are unknown.

Buy-to-Let Analysis

The supplied advertised rental evidence supports £750–£800 pcm, equivalent to £9,000–£9,600 annually. Against the £95,000 guide, this indicates approximately 9.47%–10.11% gross yield before costs. The tenant’s actual passing rent is not supplied, so the investment yield cannot be confirmed.

Flip Analysis

The latest same-address completed sale supports a £102,000 base GDV, but there is no evidenced refurbishment budget, selling allowance or confirmed vacant possession. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Tenant’s actual passing rent and tenancy terms are not supplied.

• Rental evidence comprises advertised asking rents, not achieved rents.

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

• Auction buyer, administration and other fees are not quantified.

• EPC rating is D.

• Comparable sales are recorded against the building address rather than the specific flat.

Recommendation

Consider as a buy-to-let only after verifying the AST, passing rent, leasehold charges and all auction costs. Do not rely solely on the advertised 8% yield.

Strategy Rating

Analysis Confidence

Completed sales and advertised rental evidence are available, but the comparables are not unit-specific and key tenancy, leasehold cost, fee and condition information is missing.