Flat 8, 23-25 St Andrews Road, Southsea, City of Portsmouth, PO5 1EP

Description

A Vacant First Floor One Bedroom Flat. The property comprises a first floor one bedroom flat situated within a detached converted house arranged over ground and two upper floors.

Accommodation

First Floor: Reception Room, Kitchen, Bedroom, Bathroom. G.I.A Approximately 39 sq m (419 sq ft).

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Southsea Common and Southsea Beach are within easy reach. Transport links are provided by Fratton rail station.

Tenure / Property Information

Investment Analysis

Same-road sold evidence ranges from £65,000 to £230,000. The £65,000 sale may indicate a materially different size, condition or circumstance, while the £199,950–£230,000 sales provide higher-value reference points; however, no comparable floor areas or condition details are supplied. A cautious HB scenario is £65,000 low, £200,000 base and £225,000 high. The base figure is therefore indicative only and subject to significant comparability risk.

Investment Snapshot

Strategy Recommendation

Investigate as a potential buy-to-let or BRRR purchase, subject to legal-pack review, leasehold/service-charge checks, inspection and confirmation that the bid remains close to guide. Do not rely on the high GDV or refinance scenario without stronger comparable and valuation evidence.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection-led redecoration, cleaning and any repairs only if confirmed, together with verification of kitchen, bathroom, services and common parts before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the proposed 75% refinance of the indicative £200,000 base GDV would be £150,000. This suggests substantial potential capital release, but the result cannot be treated as reliable without confirming condition, lender valuation, leasehold charges, legal-pack liabilities, finance costs and any works required. No refurbishment budget is supported by the evidence.

Buy-to-Let Analysis

Using advertised asking rents of £850–£975 pcm, annual gross rent is approximately £10,200–£11,700. At the £50,000 guide, the indicative gross yield is approximately 20.4%–23.4% before the £1,800 administration fee, finance, service charge, voids, maintenance and other costs. The headline yield is attractive, but achieved rent and recurring leasehold costs are not evidenced.

Flip Analysis

The evidence indicates a wide potential resale range of £65,000–£225,000. A base GDV of £200,000 is used only as an indicative scenario based on nearby higher-value sales. Flip profitability cannot be quantified because refurbishment costs, selling costs, finance costs and the property’s actual condition are not supplied.

Investor Risks & Due Diligence

• Wide range in same-road sold prices, with no comparable floor areas or condition details.

• Refurbishment and repair costs cannot be estimated from the supplied description.

• Advertised rents are asking rents rather than achieved rents.

• Leasehold service charges, ground rent, reserve fund and other lease terms are not supplied.

• Additional legal-pack disbursements and special-condition charges may be payable.

• Finance, valuation and refinance availability are not evidenced.

• No EPC, council tax, heating or parking information is supplied.

Recommendation

Investigate as a potential buy-to-let or BRRR purchase, subject to legal-pack review, leasehold/service-charge checks, inspection and confirmation that the bid remains close to guide. Do not rely on the high GDV or refinance scenario without stronger comparable and valuation evidence.

Strategy Rating

Analysis Confidence

Address-specific sales and local asking rents are available, but comparable sizes, condition, service charges, EPC, legal-pack costs, property condition and achieved rent are not supplied.