Flat 54 Waters Edge, Westcliff-On-Sea, Essex, SS0 7RH

Description

Ideally situated vacant two bedroom ground floor flat with garage in popular location. This vacant two bedroom flat is situated in a popular purpose-built block with sea views, communal gardens, car park and a garage. Located on Shorefield Road, within walking distance of the Esplanade, Cliffs Pavilion Theatre and Hamlet Court Road, the property is well placed for both owner-occupiers and investors. The flat requires modernisation and improvement, offering an opportunity to add value within an established and popular development.

Accommodation

Ground Floor: Communal entrance door to hallway; private entrance door leading to hall; Lounge/Diner: 19'4" x 10'11"; Bathroom: 7'7" x 4'10"; Kitchen: 13'6" x 9'11"; Bedroom: 11'2" x 7'10"; Bedroom: 13'5" x 7'10".

Location

Situated on Shorefield Road, within walking distance of the Esplanade, Cliffs Pavilion Theatre and Hamlet Court Road. The development has sea views, communal gardens and a car park.

Tenure / Property Information

Investment Analysis

Five completed sales within Waters Edge range from £230,000 to £340,000. The three 2026 sales range from £230,000 to £340,000, with a median of £280,000. The comparable particulars, condition, floor levels and garage inclusion are not supplied, so this is an indicative range rather than a formal valuation. The guide is £175,000, before the £2,400 stated buyer and admin charges and any other disbursements.

Investment Snapshot

Strategy Recommendation

Potential value-add hold or BTL, subject to survey, lease/service-charge review, confirmed rental demand and a fully priced refurbishment. Do not bid on the apparent GDV discount alone; a flip is not underwritten until all project and selling costs are known.

Works Required

Modernisation and improvement are required, but the evidence does not define the works or their cost. Obtain a survey, refurbishment schedule and contractor pricing; review the EPC E recommendations separately.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV scenario of £280,000, a 75% refinance would be approximately £210,000. However, refurbishment costs, total acquisition cost, finance costs and other completion disbursements are not supplied, so cash left in and equity cannot be reliably calculated. The long stated lease term and vacant possession are potentially supportive, but lease terms and charges require verification.

Buy-to-Let Analysis

At the £175,000 guide, the advertised £850 pcm rent equates to approximately 5.83% gross yield before refurbishment, buyer/admin charges, service charges, management, maintenance, voids, tax and finance. The rent is an advertised asking rent, not achieved rent, and no service-charge information is supplied. BTL viability therefore depends on the unknown modernisation cost and leasehold running costs.

Flip Analysis

A resale range of £230,000 to £340,000 is evidenced by completed sales at the same development, with a £280,000 base scenario. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and other acquisition disbursements are incomplete. The wide comparable range also indicates material uncertainty over the relevant flat specification and condition.

Investor Risks & Due Diligence

• The flat requires modernisation, but no condition survey, works schedule or refurbishment budget is provided.

• The same-development sales range is wide at £230,000 to £340,000 and the individual comparable specifications are unknown.

• The £850 pcm figure is an advertised asking rent rather than achieved rent.

• Leasehold service charges, ground rent, reserve funds and management information are not supplied.

• EPC rating is E and any required or recommended energy works are not quantified.

• Special Conditions of Sale may add search, seller-cost, legal, transfer and other completion disbursements.

• The stated buyer premium and admin charge total £2,400 and are payable at different auction stages.

Recommendation

Potential value-add hold or BTL, subject to survey, lease/service-charge review, confirmed rental demand and a fully priced refurbishment. Do not bid on the apparent GDV discount alone; a flip is not underwritten until all project and selling costs are known.

Strategy Rating

Analysis Confidence

There are several recent completed sales at the same development and one rental listing, but comparable property details, refurbishment scope, service charges, selling costs, finance costs and special-condition disbursements are not supplied.