Flats 1 - 25, Palma Court, 27 Brookend St, Ross-on-Wye

Description

A freehold purpose-built conversion comprising a scheme of 25 self-contained flats plus a small retail unit. Freehold investment producing stated income of £182,280 per annum.

Accommodation

The schedule lists flats 1-4, 7-28 and Unit A (shop). Flat accommodation comprises studios, one-bedroom and two-bedroom units across ground, first and second floors, with stated sizes ranging from 16 sq m to 45 sq m. Unit A is a ground-floor shop measuring 37 sq m.

Location

Ross-on-Wye is a market town near the Welsh border, along the River Wye and just north of the Forest of Dean. The town has historic landmarks, galleries, independent craft shops and larger brand stores.

Tenure / Property Information

Investment Analysis

The guide price is £1,450,000 plus the stated £1,800 buyer premium. Against the stated fully let income of £182,280 per annum, the gross yield on the guide price is approximately 12.57%. No completed sales, external rental comparables, formal valuation, rent schedule by unit or supported GDV evidence has been supplied, so an independent market value/GDV and maximum bid cannot be established. Unit A's stated rent is £785 plus VAT per calendar month, but it is not confirmed whether this is additional to or included within the stated annual income.

Investment Snapshot

Strategy Recommendation

Treat as an income-led freehold mixed-use investment only if the stated £182,280 income, tenancy terms, expenses, compliance and condition are independently verified. Do not rely on a BRRR or flip strategy without valuation and cost evidence.

Works Required

No specific refurbishment works or defects are evidenced. Due diligence should verify the condition of all flats, common parts, services, fire safety, statutory compliance and the retail unit before committing to any works allowance.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed reliably because no refurbishment budget, supported GDV, lending terms or refinance valuation evidence is provided. The stated income may support an income-investment case, but refinance proceeds at 75% of GDV cannot be calculated without a supported GDV.

Buy-to-Let Analysis

On the supplied figures, the block produces stated income of £182,280 per annum, equivalent to £15,190 per month, giving a calculated gross yield of approximately 12.57% on the £1,450,000 guide price before buyer premium, finance, operating costs, voids, tax and management. Net yield cannot be established because no operating-cost schedule, rent roll, arrears information or unit-by-unit tenancy evidence is supplied. The property is fully let and sold subject to existing tenancies, which supports an income-led assessment but requires tenancy and income verification.

Flip Analysis

A flip analysis is not supported. No refurbishment scope or cost, comparable completed sales, formal GDV or selling-cost allowance has been supplied, and the property is fully let subject to existing tenancies. Any resale surplus would therefore be speculative.

Investor Risks & Due Diligence

• The property is sold subject to existing tenancies converting to Assured Periodic Tenancies effective 01/05/2026 under the stated Renters Rights Act 2026 terms.

• The stated £182,280 annual income is not supported by a unit-by-unit rent schedule, lease documentation, arrears details or operating-cost information.

• No external rental comparables or completed sales evidence has been supplied.

• The property's condition, common-part condition and statutory compliance are not evidenced, so refurbishment and compliance costs are unknown.

• Unit A is quoted at £785 plus VAT per calendar month, but its relationship to the stated annual income is not confirmed.

• Completion is stated to be extended to eight weeks or earlier subject to mutual consent, creating additional transaction-timing considerations.

Recommendation

Treat as an income-led freehold mixed-use investment only if the stated £182,280 income, tenancy terms, expenses, compliance and condition are independently verified. Do not rely on a BRRR or flip strategy without valuation and cost evidence.

Strategy Rating

Analysis Confidence

The stated guide price, freehold tenure, occupancy and annual income support a basic gross-yield calculation, but there are no completed sales, external rental comparables, detailed rent roll, operating costs, refurbishment costs or supported GDV.