Flat 53, Coachman Court, 35 Ashingdon Road, Rochford, Essex

Description

A second floor retirement apartment in this popular over 60's development. Offered at a very realistic Guide Price, this one bedroom apartment is well presented. The scheme benefits from well kept communal gardens and parking, Residents Lounge, Laundry Room, Guest suite and Restaurant with waitress service. There is 24 hour house management.

Accommodation

Second floor: Personal Entrance Door; Entrance Hall; Lounge: 20'4" x 10'7"; Kitchen: 9'4" x 7'6"; Bedroom: 13'5" x 10'1"; Bathroom/Wetroom. Ground floor communal facilities include secure communal entrance door, communal lobby area, Residents Lounge, Restaurant, Function Room, Laundry Room, Guest Suite, and stairs and lift to all floors. Externally: communal car park and well maintained communal gardens.

Location

Coachman Court is situated close to the centre of the Market Town of Rochford and a short walk from Rochford Station.

Tenure / Property Information

Investment Analysis

Recent same-development completed sales range from £80,000 to £122,500, with an older £149,000 sale. The two most recent sales were £110,000 and £122,500. A provisional base GDV of £110,000 is used, subject to confirming flat size, floor, condition, lease terms and charges, which are not provided.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming service charges, ground rent, retirement eligibility, resale restrictions and all additional fees. The low guide is attractive against recorded same-development sales, but the absence of rental and lease-cost evidence makes this unsuitable for an assured BTL or BRRR decision at present.

Works Required

The apartment is described as well presented and no specific remedial works are evidenced. Allow for inspection, cleaning and any minor redecoration only if confirmed, but no refurbishment budget can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £110,000 base GDV, 75% refinance is £82,500. However, total acquisition cost cannot be calculated because refurbishment, legal-pack disbursements, service charges, ground rent and other possible special-condition costs are unknown. Refinance viability therefore remains unconfirmed.

Buy-to-Let Analysis

BTL cannot be underwritten because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The retirement designation may affect occupation or letting eligibility, but the lease and scheme rules have not been provided. Service charges, ground rent and any resale or transfer charges are also unknown.

Flip Analysis

The same-development sales provide a broad evidence range of £80,000 to £149,000, but the comparables do not identify bedroom count, floor, condition or exact flat details. A flip surplus cannot be calculated without supported works, purchase costs and selling-cost allowances.

Investor Risks & Due Diligence

• Leasehold costs and obligations, including service charge and ground rent, are not provided.

• Legal-pack disbursements, transfer fees, seller-cost reimbursements and other special-condition charges may apply but are unquantified.

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

• The retirement scheme may impose occupation or letting restrictions, but the relevant lease and scheme rules are not supplied.

• Comparable sale prices vary materially from £80,000 to £149,000 and lack flat-specific details.

• The lease commenced on 1 February 2006 for 125 years; the remaining term and any lease-related resale or mortgageability considerations should be verified.

Recommendation

Proceed only after reviewing the legal pack and confirming service charges, ground rent, retirement eligibility, resale restrictions and all additional fees. The low guide is attractive against recorded same-development sales, but the absence of rental and lease-cost evidence makes this unsuitable for an assured BTL or BRRR decision at present.

Strategy Rating

Analysis Confidence

There are five completed same-development sales and clear auction fees, but flat-specific comparable details, rental evidence, leasehold charges, legal-pack disbursements, condition costs and letting or resale restrictions are not supplied.