Tudor Studios, Five Way House, Tudor Road, Leicester, Leicestershire, LE3 5HU

Description

A selection of 20 student studio apartments, providing a mix of Luxury, Deluxe, Premier and Classic studios, which benefit from a gym, gardens, common rooms and parking. Well positioned for De Montfort University and Leicester City Centre.

Accommodation

20 student studio apartments comprising a mix of Luxury, Deluxe, Premier and Classic studios.

Location

The property is situated on Tudor Road, to the west of Leicester City Centre and north of De Montfort University. Transport options include road links via the ring road, A563, M69 and M1, local bus routes and Leicester rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is a completed sale at the same building for £32,000 on 14 April 2024. Applying that single unit-level indication across 20 studios gives an indicative portfolio value of £640,000, but this is not a formal valuation and may not reflect unit type, size, condition, service charges, lease terms, saleability or a bulk-sale discount. Older same-building sales at £40,000 and £75,950 are less directly relevant due to age and provide no reliable current range. The £295,000 guide equates to £14,750 per studio before the £1,800 buyer documentation fee. Four units are let and 16 are vacant, while no rent or service-charge information is supplied, preventing reliable income or yield analysis.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, all leases, service charges, ground-rent liability, tenancy schedules, unit condition, management arrangements and achievable rents; the apparent value discount is attractive but unverified.

Works Required

No physical works are identified in the supplied evidence. Before bidding, verify the condition of all 20 studios, common areas, gym, gardens, parking, leases, service-charge position and compliance documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A refinance at 75% of the indicative £640,000 GDV would be £480,000, but this is dependent on lender acceptance of the comparable evidence, the leasehold structure, unit-level valuations and vacant-unit condition. No refurbishment budget, rental evidence, total project cost or finance assumptions are available, so cash left in and refinance viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no passing rents, asking rents, auctioneer rent estimate, service-charge figures or operating costs are supplied. Only 4 of 20 units are let, leaving 16 vacant and creating significant income and letting risk. The stated ground rent is £850 per apartment annually, subject to lease and service-charge verification.

Flip Analysis

Using the single recent same-building sale as an indicative basis gives a gross value indication of £640,000 against the £295,000 guide, before the £1,800 documentation fee. However, refurbishment costs, selling costs, bulk-sale discount, unit-specific condition and resale timing are unsupported, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Sixteen of the 20 studios are vacant, with no evidence of achievable rents or letting demand for these specific units.

• The £640,000 value indication relies on one completed sale and assumes, without verification, that it is representative of all 20 studios.

• Bulk-sale pricing may be lower than the sum of individual unit values.

• Service charges are not supplied, despite the studios benefiting from shared facilities and common areas.

• Ground rent is stated as £850 annually per apartment, but the exact liability and lease provisions must be verified.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Leasehold, lender, management and resaleability requirements are not evidenced.

Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, all leases, service charges, ground-rent liability, tenancy schedules, unit condition, management arrangements and achievable rents; the apparent value discount is attractive but unverified.

Strategy Rating

Analysis Confidence

There is one recent same-building completed sale and clear portfolio pricing, but no rental evidence, condition assessment, service-charge detail, EPC information, lease-pack detail, refurbishment costs or selling-cost assumptions.