Flat 6, St. Swithins Court, Cranbury Place, Southampton, Hampshire, SO14 0LG

Description

One bedroom purpose built 2nd floor apartment, offered in good decorative condition throughout, with a city centre location and residents parking. The property is ideally placed for rental purposes and is offered with vacant possession.

Accommodation

Ground Floor: Communal entrance hallway with stairs to all floors. Second Floor: Entrance hallway, lounge/kitchen, bedroom, bathroom.

Location

Located in the heart of central Southampton, within immediate walking distance of the Royal South Hants Hospital and the local amenities found in St Marys and Southampton City Centre. Public transport is available nearby, providing links to surrounding areas including Solent University.

Tenure / Property Information

Investment Analysis

The five supplied completed sales in the same Cranbury Place area range from £80,000 to £137,000. The most recent sales were £129,000 and £137,000, while a St. Swithuns Court sale was £110,000. Given the comparable spread, the subject’s good decorative condition and the 58-year lease, £110,000 is used as a cautious base GDV, with a supported scenario range of £80,000–£137,000. This remains indicative because comparable sizes, exact lease lengths, condition and service charges are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the full legal pack, confirming all completion fees, service charges and lease terms, and obtaining rental evidence. The apparent value margin supports further investigation, but the short lease and missing operating costs make an unconditional BTL or flip decision premature.

Works Required

No specific remedial works are evidenced; the apartment is described as being in good decorative condition. Allow for inspection, cleaning and any minor maintenance only after viewing. Confirm heating, service charge, lease administration and any works or compliance requirements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £75,000 guide, no evidenced refurbishment allowance and the known £1,800 inclusive buyer documentation fee, base cost is £76,800. A 75% refinance against the indicative £110,000 GDV would be £82,500, implying £5,700 more than the stated base cost before finance, tax, legal, valuation, refinancing and selling costs. Actual refinanceability may be constrained by the 58-year lease and lender criteria.

Buy-to-Let Analysis

BTL suitability is suggested by the city-centre location, proximity to the Royal South Hants Hospital, amenities and public transport, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Rent and yield therefore cannot be established. The 58-year lease, unknown service charge and unspecified lease costs require particular attention before purchase.

Flip Analysis

The indicative base GDV of £110,000 exceeds the £76,800 guide-plus-known-cost basis by £33,200 before selling costs, finance, tax and any seller-charged completion fees. A formal flip surplus is not calculated because no supported selling allowance, finance costs, tax or complete special conditions are supplied. The 58-year lease may also restrict resale demand and valuation.

Investor Risks & Due Diligence

• Only 58 years remain on the lease, which may affect mortgageability, resale value and lease-extension cost.

• Annual service charge and its review history are not supplied.

• Potential seller-charged completion fees are not quantified.

• No sufficiently specific rental evidence or passing rent is available.

• Comparable sale sizes, exact specifications, lease lengths and condition are not supplied.

• Finance, tax, legal, valuation, resale and lease-extension costs are excluded from the indicative calculations.

Recommendation

Proceed only after reviewing the full legal pack, confirming all completion fees, service charges and lease terms, and obtaining rental evidence. The apparent value margin supports further investigation, but the short lease and missing operating costs make an unconditional BTL or flip decision premature.

Strategy Rating

Analysis Confidence

There are five same-area completed sales and a stated guide price, but comparable details, rental evidence, service charges, heating information, seller fees and full lease-pack details are incomplete.