Flat 63 Oceana Boulevard, Briton Street, Southampton, City of Southampton

Description

Purpose-built leasehold flat located on the fifth floor of a purpose-built block of apartments, comprising a living room, kitchen, 2 bedrooms (1 en-suite) and a bathroom. The property benefits from a balcony and a parking space. The building has an ESW1 Certificate, B2 rating.

Accommodation

Hallway; Living Room - 6.10 x 3.56; Kitchen - 2.44 x 2.39; Bedroom 1 with ensuite - 3.61 x 2.77; Bedroom 2 - 3.18 x 3.18; Bathroom; Total floor area - 74.36 sq.m. (taken from EPC).

Location

Within walking distance of Southampton city centre, Southampton High Street, West Quay Shopping Centre and Southampton Sports Centre. Southampton mainline station offers direct routes to Waterloo Station. What3Words: shows.else.foal.

Tenure / Property Information

Investment Analysis

The strongest evidence is the same-block completed sale at £100,000 on 18 September 2025, with earlier same-block sales at £97,000 and £105,000 in December 2023. The £155,000 and £250,000 sales are materially higher and lack sufficient detail to use as reliable primary comparables. An evidence-supported HB range is therefore £97,000–£105,000, with a base GDV of £100,000. The £95,000 guide is close to the recent evidence before buyer and administration charges.

Investment Snapshot

Strategy Recommendation

Treat as a cautious owner-occupier or long-term hold candidate only if the legal pack confirms acceptable service charges, lease terms, building obligations and no material liabilities. Do not rely on BTL or flip returns without verified rent and full costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, ordinary maintenance and any works identified in the legal pack or viewing, but no quantified works allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £95,000 guide, the known buyer premium of £1,500 and minimum administration charge of £1,750, the analysed cost is £98,250 before any unspecified legal, search, transfer, seller-cost reimbursement, finance or refurbishment costs. A 75% refinance of the £100,000 base GDV is £75,000, leaving indicative cash in of £23,250 before those excluded costs. No rent or refurbishment evidence supports a BRRR case.

Buy-to-Let Analysis

BTL assessment is incomplete because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent and gross yield cannot therefore be established. The long remaining lease, parking space and city-centre location are potentially supportive, but ground rent, service charge and other ownership costs are not provided.

Flip Analysis

At the guide price, the known-cost total is £98,250 against a base GDV of £100,000, leaving only £1,750 before selling costs, finance, tax, legal costs, refurbishment and other disbursements. The low GDV scenario is below the known acquisition cost, while the high scenario provides only limited headroom. A formal flip surplus cannot be calculated without a supported selling allowance.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, so rental yield and BTL viability cannot be established.

• Service charge is not supplied and may materially affect ownership and investment costs.

• Additional search fees, seller-cost reimbursement, legal fees, transfer fees and other disbursements may be payable.

• The building has an ESW1 Certificate with a B2 rating; the implications and any associated costs or obligations require legal and technical review.

• Ground rent is £250 per annum and is subject to review in 2029 and every 25 years thereafter.

• The valuation evidence is limited to same-block sales without detailed comparability information; two older sales are materially higher than the recent evidence.

• The estimated refinance figure is illustrative only and does not confirm lender availability or valuation.

Recommendation

Treat as a cautious owner-occupier or long-term hold candidate only if the legal pack confirms acceptable service charges, lease terms, building obligations and no material liabilities. Do not rely on BTL or flip returns without verified rent and full costs.

Strategy Rating

Analysis Confidence

Recent same-block sold evidence supports a reasonable GDV range, but there is no rental evidence, no condition survey, no service-charge information and no quantified refurbishment or selling-cost allowance.