Flat 7, Canterbury Grange, 18, Grove Avenue, WILMSLOW, Cheshire, SK9 5EG

Description

Leasehold ground floor retirement flat. Upon instruction of AMG.

Accommodation

One bedroom, reception room, kitchen, bathroom/wc

Location

The property is located on Grove Avenue. Shopping amenities can be found locally within Wilmslow Town Centre. Public transport links are available at Wilmslow Train Station to the east along with a network of local bus services serving the surrounding areas. The property is served by road links including the A538 to the south and A34 to the east. Recreational pursuits can be found at The Carrs Park to the north.

Tenure / Property Information

Investment Analysis

The five completed sales are within Canterbury Grange and range from £105,000 to £195,000, but the evidence does not identify the individual flats, sizes, condition, floor levels, lease terms or sale circumstances. The subject is a one-bedroom ground-floor retirement flat with 89 years stated remaining, so the comparables support a broad value range rather than a precise valuation. A provisional base GDV of £160,000 is used, with £105,000 as the low evidence point and £195,000 as the high evidence point. The lease information, retirement restrictions, service charges and resale requirements remain important unknowns.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack and confirming retirement-occupancy provisions, service charges, ground rent, resale restrictions, parking and mortgageability. The guide appears potentially attractive against the supplied building comparables, but the evidence is insufficient to set a defensible maximum bid or confirm a BTL/BRRR exit.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance is therefore made only for investigation, legal-pack review and any minor works that may be identified after inspection; no numeric works budget is supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the provisional £160,000 base GDV and no evidenced refurbishment allowance, 75% refinance would be approximately £120,000. Against the £66,800 guide-plus-known-fee cost, the indicative cash position is £53,200 released before finance costs, tax and any undisclosed seller fees. This is highly dependent on the actual flat-specific value, mortgageability, lease terms, retirement restrictions and service charges.

Buy-to-Let Analysis

The only rental evidence is a £700 pcm advertised asking rent for a one-bedroom property in Wilmslow; it is not an achieved rent and may not be applicable to a retirement flat. At the £65,000 guide, this indicates 12.92% gross yield, or 12.57% against the guide plus the known £1,800 documentation fee. Net yield cannot be established because service charges, ground rent, management, maintenance, voids and retirement-occupancy restrictions are unknown.

Flip Analysis

On the provisional base GDV, the guide plus known £1,800 documentation fee totals £66,800 before works, finance, tax and sale costs. The implied gross margin before those costs is £93,200. A net flip surplus is not stated because no supported selling allowance, refurbishment cost or other disposal costs are provided. The wide comparable range and unidentified flat-specific factors make the GDV uncertain.

Investor Risks & Due Diligence

• The comparable sales range is wide and the evidence does not identify whether the sold flats match the subject in size, condition, floor, outlook or facilities.

• Lease information is awaited despite the stated 89 years remaining; service charge, ground rent and other lease obligations are unknown.

• Retirement-flat occupancy, resale or purchaser eligibility restrictions may affect letting, mortgageability and exit value.

• The £700 pcm figure is an advertised asking rent for another Wilmslow property, not achieved rent and not confirmed as applicable to this retirement flat.

• Parking and heating information are unconfirmed.

• Additional seller fees may be payable under the Special Conditions of Sale.

• No condition report or refurbishment cost evidence is supplied.

• Finance costs, taxation, management, maintenance, voids and disposal costs are excluded from the indicative calculations.

Recommendation

Proceed only after reviewing the legal pack and confirming retirement-occupancy provisions, service charges, ground rent, resale restrictions, parking and mortgageability. The guide appears potentially attractive against the supplied building comparables, but the evidence is insufficient to set a defensible maximum bid or confirm a BTL/BRRR exit.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and one local advertised rent, but the individual comparable attributes, lease information, service charges, condition, retirement restrictions and seller fees are unavailable.