Parking Space 32, Tolhurst House, Chichester Road, Southend on Sea, Essex

Description

A secure underground leasehold parking space located immediately behind Southend High Street. The car park entrance is on Whitegate Road and accessed via an electronic roller shutter operated by a key fob. There are approximately 976 years remaining on the current lease.

Location

Located immediately behind Southend High Street. The car park entrance is on Whitegate Road.

Tenure / Property Information

Investment Analysis

This is a secure underground leasehold parking space with approximately 976 years remaining. The supplied Land Registry comparables are flats within Tolhurst House, priced from £82,000 to £125,000, and are not suitable evidence for valuing the parking space. No specific parking-space sales, rental evidence, service-charge information or formal valuation is supplied. The £4,500 guide is therefore not independently validated and is stated to be plus fees.

Investment Snapshot

Strategy Recommendation

Do not underwrite as a BTL, BRRR or flip without parking-space comparables, service-charge details, full lease review and evidence of local rental or resale demand. Consider only if the all-in price remains attractive after the unspecified fees.

Works Required

No refurbishment works are evidenced or indicated. Confirm the space, access system, key fob, lease terms, service charge and any restrictions before purchase.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR is not supportable on the supplied evidence. There is no supported GDV, rental income, refurbishment value uplift or refinance basis, and the purchase is leasehold with unspecified additional fees.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent and gross yield cannot be established. The asset is a parking space rather than residential accommodation, and demand, service charges and letting restrictions are unknown.

Flip Analysis

A flip analysis cannot be quantified because no comparable parking-space sales, supported resale value or selling-cost allowance is supplied. The flat comparables in the same building are not appropriate substitutes.

Investor Risks & Due Diligence

• The £4,500 guide is plus fees, but buyer, administration and other fee amounts are not supplied.

• No specific sold comparables for parking spaces are provided; the supplied flat sales are not directly comparable.

• No rental evidence or passing rent is available, so income and yield cannot be assessed.

• Service charge, ground rent and other lease liabilities are not supplied.

• Electronic access depends on the roller shutter and key fob; operational condition is not evidenced.

• Lease terms, use restrictions, assignment provisions and any parking-space identification should be verified.

Recommendation

Do not underwrite as a BTL, BRRR or flip without parking-space comparables, service-charge details, full lease review and evidence of local rental or resale demand. Consider only if the all-in price remains attractive after the unspecified fees.

Strategy Rating

Analysis Confidence

The property description and lease length are supplied, but there is no relevant parking valuation evidence, rental evidence, fee schedule, service-charge data, occupancy information or supported resale value.