Flat 6 Canute House, Poole, Dorset, BH15 1EJ

Description

Two bedroom first floor flat located in Poole, Dorset, close to Poole town centre, local shops, restaurants and transport links. The property comprises an open-plan kitchen/living/dining room with a Juliet balcony, two double bedrooms, one with an en-suite, and a separate bathroom.

Accommodation

Entrance Hall; Kitchen/Living/Dining Room: 6.79m x 3.02m; Bedroom: 3.54m x 2.36m; En-suite: 1.67m x 1.66m; Bedroom: 3.40m x 2.45m; Bathroom: 2.35m x 1.70m

Location

Poole, Dorset, close to Poole town centre, local shops, restaurants and transport links.

Tenure / Property Information

Investment Analysis

Same-building leasehold sales range from £126,000 in April 2026 to £200,000 in October 2024, with intervening sales at £145,000 and £150,000. The most recent evidence supports a cautious base GDV of £150,000, with £126,000 as a low case and £200,000 as a high case. The wide range reduces valuation certainty.

Investment Snapshot

Strategy Recommendation

Potential buy-to-let or long-term hold at the guide, subject to confirming the lease, service charges, ground rent, legal pack and achievable rent. The price should be controlled because same-building sales vary materially and additional auction costs are unknown.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any legally or practically necessary works only after reviewing the legal pack and viewing the flat; no refurbishment allowance has been included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £125,000 guide, the purchase plus stated buyer and admin charges is £127,880 before any works or other charges. A 75% refinance of the £150,000 base GDV would be £112,500, leaving indicative cash in of £15,380 before finance, tax, works and unknown costs. The outcome depends on the lease, service charges, valuation and lender acceptance, none of which are supplied.

Buy-to-Let Analysis

The only rental evidence is an advertised £735 pcm asking rent for a two-bedroom flat in Poole, not an achieved rent for this property. At that rent, annual gross rent is £8,820, giving approximately 7.06% on the £125,000 guide and 6.90% on the guide plus the stated £2,880 buyer and admin charges. This excludes mortgage costs, service charge, ground rent, management, maintenance, legal costs and other auction charges.

Flip Analysis

Using the £150,000 base GDV and £127,880 of purchase plus stated buyer/admin costs, the gross value margin before selling costs, finance, tax, works and other charges is £22,120. A reliable net flip surplus cannot be established because no selling allowance, refurbishment budget or full auction costs are supplied.

Investor Risks & Due Diligence

• Same-building completed sales vary significantly from £126,000 to £200,000.

• The rental evidence is an advertised asking rent for another Poole property, not achieved rent for the subject flat.

• Lease length, service charge and ground rent are not supplied.

• Additional search, seller-cost reimbursement, legal and transfer fees may apply but are unquantified.

• Condition and any required works are not evidenced.

• Parking, council tax and heating details are not supplied.

Recommendation

Potential buy-to-let or long-term hold at the guide, subject to confirming the lease, service charges, ground rent, legal pack and achievable rent. The price should be controlled because same-building sales vary materially and additional auction costs are unknown.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and one local asking-rent reference, but the lease terms, service charges, ground rent, occupancy, condition, parking and additional legal/auction costs are not supplied.