Flat 605 Nebula Egerton House, Sheffield, South Yorkshire, S1 4JX

Description

Offered for sale by auction, Flat 605 is an en-suite bedroom within Nebula, a modern development in Sheffield. The room includes a three-quarter bed, fitted wardrobes, a study area, personal fridge and safe. The room forms part of a shared apartment of between three and six bedrooms. Residents have use of a fitted kitchen with an oven, hob, extractor, fridge freezer, breakfast bar and seating, together with a communal lounge area. The property is currently let at £105 per week, offering an immediate income stream for an investor.

Accommodation

En-suite bedroom with a three-quarter bed, fitted wardrobes, study area, personal fridge and safe. Shared apartment with between three and six bedrooms, fitted kitchen and communal lounge area.

Location

Nebula, Egerton House, Sheffield, South Yorkshire.

Tenure / Property Information

Investment Analysis

Sold evidence in the same S1 4JX postcode shows leasehold flats at £59,950–£64,950, with three sales at £62,000. These appear to be proxy comparables rather than confirmed identical units, as they reference Spectrum Apartments while this property is an en-suite bedroom within a shared apartment. A provisional base GDV of £62,000 is therefore used, subject to confirming the lease, room ownership structure, service charge and tenancy terms.

Investment Snapshot

Strategy Recommendation

Prioritise BTL only if the legal pack confirms secure income, acceptable service charges and a financeable leasehold interest. Do not rely on the apparent GDV or BRRR release until the shared-apartment ownership and comparable evidence are independently verified.

Works Required

No refurbishment works are evidenced. Confirm condition, furniture, communal areas, lease obligations and any repair liabilities through the legal pack and viewing information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £15,000 upper guide plus the £3,600 admin charge and no evidenced works allowance gives a known-cost base of £18,600. A 75% refinance against the provisional £62,000 GDV is £46,500, implying £27,900 more than the known purchase and admin cost could potentially be released. This is highly dependent on lender acceptance of the shared-apartment en-suite ownership structure, lease terms, valuation, service charges, rent evidence and full acquisition costs.

Buy-to-Let Analysis

The stated rent of £105 per week equates to approximately £455 per calendar month and £5,460 per year. At the top of the £15,000 guide, the gross yield is approximately 36.4%; using the known £3,600 admin charge, the yield on £18,600 of stated purchase cost and admin is approximately 29.4%. These figures exclude service charge, ground rent, management, voids, maintenance, finance, tax and other completion charges. The tenancy and actual net income must be verified in the legal pack.

Flip Analysis

The provisional £62,000 GDV is based on nearby postcode sales that may not be directly comparable to an en-suite room in a shared apartment. No refurbishment or selling-cost allowance is evidenced, so a reliable flip surplus cannot be calculated. Resaleability and mortgageability should be treated as key unknowns.

Investor Risks & Due Diligence

• Shared-apartment en-suite ownership structure and legal interest require confirmation.

• Tenancy terms and whether £105 per week is passing rent require verification in the legal pack.

• Service charge, ground rent and other lease liabilities are unknown.

• Additional search, legal, transfer, seller-cost reimbursement and other completion charges may apply.

• The sold comparables are at a differently named development and may not be directly comparable.

• Mortgageability and refinance valuation may be restricted by the leasehold and shared-apartment structure.

• Net yield will be materially lower after management, maintenance, voids, finance, tax and building costs.

Recommendation

Prioritise BTL only if the legal pack confirms secure income, acceptable service charges and a financeable leasehold interest. Do not rely on the apparent GDV or BRRR release until the shared-apartment ownership and comparable evidence are independently verified.

Strategy Rating

Analysis Confidence

The current rent, auction guide, admin charge and several sold postcode comparables are supplied, but the legal pack, lease terms, service charge, ground rent, tenancy details, property condition, exact ownership structure and other completion costs are unavailable. The sold comparables may not be directly equivalent.