Third Floor Flat, 83, St. James's Street, Brighton, East Sussex, BN2 1TP

Description

Leasehold third floor flat.

Accommodation

One bedroom, reception room open plan to kitchen, bathroom/wc

Location

The property is located on St. James’s Street. Shopping amenities can be found locally within Brighton City Centre. Public transport links are available at Brighton Train Station to the north west along with a network of local bus services serving the surrounding areas. The property is served by road links including the A259 to the south. Recreational pursuits can be found at Dorset Gardens to the north.

Tenure / Property Information

Investment Analysis

The £110,000 guide is below the supplied historic sales evidence, including £200,000 for this address in March 2018 and £90,000–£275,000 for other leasehold flats on St James's Street between 2018 and 2023. However, the comparables are dated, vary materially in price and provide no size, condition, floor, service-charge or lease-detail comparison. A current GDV cannot therefore be supported. The flat has 116 years remaining according to the listing, but other lease information is awaited. The known buyer documentation fee is £1,800 including VAT; possible seller fees are not quantified.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or resale assumptions yet. Obtain the legal pack, verify lease and all completion charges, inspect the flat, and secure an independent current valuation and rental assessment before considering a purchase.

Works Required

No physical defects or refurbishment requirements are evidenced. Before bidding, review the legal pack and confirm lease terms, service charge, ground rent, repair obligations, EPC implications, heating and parking information. Any physical works remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a supported current GDV, rent, refurbishment budget and full lease-cost information. The 116-year stated remaining term is potentially supportive, but the lease details must be verified in the legal pack.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent, gross yield and cash-flow performance cannot be established. Service charge, ground rent and council tax information are also unavailable.

Flip Analysis

The supplied historic sales suggest that values on the street can exceed the guide, but they are not sufficient to establish a current resale value. No supported works budget or selling-cost allowance is available, so a flip surplus cannot be calculated.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Lease information beyond the stated term is awaited, including potentially material service-charge, ground-rent and repairing obligations.

• Possible seller fees are referred to but not quantified.

• Council Tax band is inconsistent or unavailable, being stated as both to be advised and deleted.

• Parking and heating information is unavailable.

• Historic comparable sales vary substantially and are not sufficient to establish current market value.

• Property condition and any refurbishment requirement are not evidenced.

Recommendation

Do not bid on yield or resale assumptions yet. Obtain the legal pack, verify lease and all completion charges, inspect the flat, and secure an independent current valuation and rental assessment before considering a purchase.

Strategy Rating

Analysis Confidence

Evidence includes a guide price, historic Land Registry sales and a stated remaining lease term, but lacks current comparable evidence, property size, condition, rent, service-charge and ground-rent details, complete lease information and quantified total acquisition costs.