Top Floor Flat, 49 Carisbrooke Road, St. Leonards-on-Sea, East Sussex

Description

A Vacant Third Floor One Bedroom Flat. The property comprises a third floor one bedroom flat situated within a mid terrace building arranged over lower ground, raised ground and three upper floors.

Accommodation

Third Floor: Reception Room with Open-Plan Kitchen; Bedroom; Bathroom

Location

Situated on a residential road close to local shops and amenities. The open spaces of St. Leonards On Sea Beach are within easy reach. Transport links are provided by St Leonards Warrior Square rail station.

Tenure / Property Information

Investment Analysis

The most recent completed sale for 49 Carisbrooke Road was £55,000 on 9 March 2026. Earlier sales recorded for the same address were £115,000 and £144,000 in April 2025, creating substantial evidence variation. Given the latest sale, the approximately 57-year lease and the absence of condition information, £55,000 is used as the base GDV. The earlier same-address sales support only a broad upper scenario, not a firm current valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal, lease, condition and comparable-sale verification. At the guide, the rent indication is attractive on a gross basis, but the 57-year lease, unknown costs and uncertain current value make this unsuitable for an unconditional BRRR or flip decision.

Works Required

No specific defects or required works are evidenced. Obtain a full inspection and legal-pack review before budgeting. The EPC is currently rated E, but no upgrade scope or cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £55,000 base GDV, 75% refinance is approximately £41,250. This is only slightly below the guide plus the stated £1,800 administration charge, before any buyer premium, legal/disbursement costs, works, finance or tax. The short remaining lease and uncertain refurbishment requirement make refinanceability and actual cash extraction particularly uncertain.

Buy-to-Let Analysis

Using the £780 pcm advertised asking rent for Carisbrooke Road, annual rent is £9,360 and the gross yield on the £40,000 guide is approximately 23.4%, before service charge, ground rent, voids, management, finance, tax and other fees. The £425 pcm evidence is a broader TN38 listing and gives approximately 12.75% on the guide. These are asking-rent indications, not achieved rent. A reliable net yield cannot be established because lease charges, works and other costs are unavailable.

Flip Analysis

A flip assessment cannot be reliably completed because refurbishment costs, selling costs and condition are not supplied. The £55,000 latest same-address sale provides limited apparent headroom over the £40,000 guide, but the £115,000 and £144,000 earlier sales show material price variation and may not be directly comparable in condition, lease position or circumstances.

Investor Risks & Due Diligence

• Approximately 57 years remain on the lease, which may restrict mortgageability, resale and refinance options.

• Completed sales for the same address vary materially from £55,000 to £144,000.

• Rental evidence consists of advertised asking rents, not achieved rents; the lower figure is from a broader TN38 listing.

• No condition survey or refurbishment cost evidence is supplied.

• The property has an EPC rating of E.

• Buyer premium, legal costs, searches, seller-cost reimbursement, transfer fees and other disbursements are not quantified.

• Service charge, ground rent, council tax and parking information are not supplied.

Recommendation

Proceed only subject to satisfactory legal, lease, condition and comparable-sale verification. At the guide, the rent indication is attractive on a gross basis, but the 57-year lease, unknown costs and uncertain current value make this unsuitable for an unconditional BRRR or flip decision.

Strategy Rating

Analysis Confidence

There is a recent same-address completed sale and limited rental evidence, but the same-address sale prices vary widely, the lease is short, condition and lease charges are unknown, and buyer/selling costs are incomplete.