Flat B, 70 West Street, Old Market, Bristol

Description

A leasehold flat set within a mixed-use building comprising 4 flats and a small shop in popular Old Market. The flat is approached via a communal area leading to the rear of the first floor, with accommodation of 345 sq ft comprising an open-plan kitchen/living space, double bedroom, large bathroom and steps down to a private courtyard garden. Sold with vacant possession.

Accommodation

345 sq ft comprising an open-plan kitchen/living space, double bedroom, large bathroom and steps down to a private courtyard garden.

Location

Popular Old Market, Bristol. The Centre is the heart of the City, with nearby attractions including the Hippodrome, Bristol Shopping Quarter at Cabot’s Circus, Millennium Square, the harbourside and Bristol Aquarium.

Tenure / Property Information

Investment Analysis

The supplied completed sale at the same address was £160,000 in January 2025 and is the only relevant market evidence. This supports a base GDV estimate of £160,000, but the comparable’s exact flat specification, size and condition are not provided, so low and high scenarios cannot be evidenced. The £100,000 guide represents a substantial discount to that sale, subject to auction competition, condition and legal review.

Investment Snapshot

Strategy Recommendation

Potentially attractive as a buy-to-let at the guide if the auctioneer rent estimate is achievable and inspection/legal checks are satisfactory. Do not rely on a BRRR or flip strategy until works, all costs, resaleability and finance terms are confirmed.

Works Required

No specific refurbishment works or defects are evidenced. Allow for inspection and any basic works identified before exchange, but no reliable works budget can be quantified from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £160,000, refinancing at 75% GDV would provide an indicative £120,000 gross facility. However, refurbishment costs, finance costs, taxes and other acquisition costs are not supplied, so cash left in and project equity cannot be calculated reliably. The long 999-year lease is favourable in duration, subject to legal review.

Buy-to-Let Analysis

The auctioneer estimates rent at £1,150–£1,250 pcm, equivalent to an indicative gross yield of 13.8%–15.0% against the £100,000 guide. This is an estimate rather than achieved rent, and no sufficiently specific external rental comparable is available. The £40 pcm management fee, finance, voids, maintenance, insurance and other costs would reduce the net return.

Flip Analysis

A £160,000 base GDV is supported by the January 2025 same-address completed sale. A reliable flip surplus cannot be calculated because refurbishment costs, full acquisition costs and selling costs are not evidenced. The £1,800 buyer premium is known but insufficient to establish total project cost.

Investor Risks & Due Diligence

• The rent evidence is an auctioneer estimate rather than achieved rent, with no sufficiently specific external rental comparable.

• The only relevant sale is at the same address, but its exact flat specification, size and condition are not provided.

• No condition, heating, parking or refurbishment information is supplied, preventing a reliable works budget.

• EPC rating E may affect tenant appeal, operating costs or future compliance considerations.

• Known buyer premium is £1,800 including VAT, but other acquisition, finance, selling and tax costs are not supplied.

• The flat is within a mixed-use building with communal access and a stated £40 pcm management fee; lease and management documentation require review.

Recommendation

Potentially attractive as a buy-to-let at the guide if the auctioneer rent estimate is achievable and inspection/legal checks are satisfactory. Do not rely on a BRRR or flip strategy until works, all costs, resaleability and finance terms are confirmed.

Strategy Rating

Analysis Confidence

There is one same-address completed sale, an auctioneer rent estimate and stated lease/management information, but no external rental comparables, no condition or works evidence, no low/high valuation range and incomplete project-cost information.