Flat 6, 60 Drummond Road, Bournemouth, Dorset, BH1 4DT

Description

A Vacant First Floor One Bedroom Flat. The property comprises a first floor one bedroom flat situated in a detached building arranged over ground and two upper floors.

Accommodation

First Floor: Reception Room, Kitchen, Bedroom, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Bournemouth Beach are within easy reach. Transport links are provided by Bournemouth rail station.

Tenure / Property Information

Investment Analysis

The supplied Land Registry evidence indicates a broad value range for leasehold flats on Drummond Road: £115,000 to £165,000, with sales at 60 Drummond Road of £120,000 in 2021 and £128,500 in 2024. A base GDV of £128,500 is used, although the exact unit details and condition behind the comparable transactions are not confirmed. The approximately 61-year lease is a material valuation and mortgageability consideration. Rental evidence ranges from £825 to £1,261 pcm, but both figures are advertised asking rents rather than achieved rents and are from different properties.

Investment Snapshot

Strategy Recommendation

Potential value-led BTL or refurbishment purchase only after reviewing the legal pack, confirming lease terms and charges, inspecting condition, and validating achievable rent. Do not rely on the headline guide yield without resolving the short lease and unknown costs.

Works Required

No condition defects or refurbishment requirements are supplied. Allow for inspection-led cleaning, redecoration or repairs only if identified, but no monetary works allowance can be supported from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A purchase at the guide midpoint could offer substantial apparent value against the £128,500 base GDV, with an indicative 75% GDV refinance figure of £96,375. However, total project cost cannot be established because refurbishment costs, service charge, ground rent, legal-pack disbursements and other acquisition costs are unknown. The short lease may also limit refinance availability.

Buy-to-Let Analysis

Using the £37,500 midpoint of the guide and the midpoint of the supplied asking-rent evidence, estimated gross rent is £12,516 per year and gross yield is approximately 33.38% before finance, service charge, ground rent, maintenance, voids, management, tax and auction costs. The headline yield is attractive, but rent is not achieved rent and the approximately 61-year lease may restrict financing and resale.

Flip Analysis

The supplied evidence supports a base resale value of £128,500, with £115,000 and £165,000 as evidence-based low and high scenarios. A flip surplus cannot be calculated reliably because works, selling costs and all acquisition costs are not supplied. The approximately 61-year lease is a significant resale and valuation risk.

Investor Risks & Due Diligence

• Approximately 61 years remain on the lease, which may affect mortgageability, refinance and resale.

• Service charge, ground rent, lease restrictions and lease-extension position are not supplied.

• The property is vacant and no passing rent is available.

• Rental figures are advertised asking rents, not achieved rents, and relate to other properties.

• Comparable sale prices vary materially from £115,000 to £165,000.

• Property condition and any refurbishment requirement are not evidenced.

• Auction disbursements and other buyer costs may be payable but are not quantified.

Recommendation

Potential value-led BTL or refurbishment purchase only after reviewing the legal pack, confirming lease terms and charges, inspecting condition, and validating achievable rent. Do not rely on the headline guide yield without resolving the short lease and unknown costs.

Strategy Rating

Analysis Confidence

There are relevant local and same-address completed sales plus rental asking evidence, but the exact comparable unit details, property condition, lease charges, legal disbursements, achievable rent and refurbishment costs are not supplied.