Flat 8 43-45, Elm Grove, Southsea, City of Portsmouth, PO5 1JF

Description

A Vacant Second Floor Two Bedroom Flat in Need of Modernisation. The property comprises a second floor two bedroom flat situated within a purpose built block arranged over ground and three upper floors.

Accommodation

Second Floor: Reception Room with Open-Plan Kitchen; Two Bedrooms; Bathroom

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

The most relevant completed evidence is £90,000 at 43–45 Elm Grove in December 2025, although the exact flat and condition are not identified. Other nearby leasehold sales range from £70,000 to £76,000; the £215,000 sale is inconsistent and not safely usable without further detail. A provisional base GDV of £90,000 is therefore used, with low/high scenarios unsupported.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming leasehold costs and obtaining a refurbishment quotation. Do not rely on the provisional GDV without flat-specific evidence.

Works Required

Modernisation of the vacant two-bedroom flat, including the open-plan kitchen/reception, bedrooms and bathroom. The evidence does not define the required specification or defects, so costs cannot be estimated reliably.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A provisional £90,000 GDV is indicated by the most relevant same-address sale, but refurbishment cost, rent, finance costs and leasehold charges are unavailable. Refinance and cash-left-in calculations are therefore unsupported.

Buy-to-Let Analysis

BTL viability and yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. Modernisation costs and leasehold outgoings are also unknown.

Flip Analysis

A reliable flip surplus cannot be calculated because the works allowance and selling costs are not supplied. The guide is £80,000 plus the known £1,800 administration charge, before other possible legal-pack and completion costs.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• No sufficiently specific rental evidence is available.

• Leasehold service charges, ground rent and other outgoings are not supplied.

• The comparable evidence is inconsistent and does not identify the exact flat.

• Additional legal-pack disbursements and completion charges may apply.

Recommendation

Proceed only after reviewing the legal pack, confirming leasehold costs and obtaining a refurbishment quotation. Do not rely on the provisional GDV without flat-specific evidence.

Strategy Rating

Analysis Confidence

There is one relevant same-address completed sale, but the comparable is not flat-specific, another sale is materially inconsistent, and rent, works scope and leasehold outgoings are missing.