Unit 504 Kentish House, Parham Road, Canterbury, Kent

Description

A Vacant Second Floor One Bedroom Student Accommodation Flat. The property comprises a second floor one bedroom flat situated within a purpose built block arranged over ground and two upper floors.

Accommodation

Second Floor: Bedroom, Kitchen, Bathroom

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Kingsmead Playing Field are within easy reach. Transport links are provided by Canterbury West rail station.

Tenure / Property Information

Investment Analysis

Completed sales evidence for Kentish House ranges from £65,000 to £80,000, although the exact flat details, size, condition and sale comparability are not supplied. A scenario range of £65,000 to £80,000 is therefore used, with a midpoint base GDV of £72,500. Canterbury rental evidence comprises advertised asking rents of £1,000–£1,200 pcm only; these are not achieved rents and no service charge, ground rent, management or other holding costs are provided.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a low-cost BTL or BRRR investigation, subject to legal-pack review, leasehold charges, condition, student-accommodation restrictions, achievable rent and financeability. Do not rely on the headline yield or bid without those checks.

Works Required

No specific defects or refurbishment requirements are evidenced. Allowance should be made only after inspection and review of the legal pack, lease, block information and any available condition documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV of £72,500, 75% of GDV is £54,375. Against the £20,000 guide plus the known £1,800 admin charge, this indicates a theoretical surplus of £32,575 before refurbishment, finance, tax, valuation, refinance and other completion costs. Refurbishment costs and lender eligibility are unsupported, and the student-accommodation designation may affect refinance and letting criteria.

Buy-to-Let Analysis

At the £20,000 guide, the advertised rent range implies gross yields of 60%–72% before service charge, ground rent, management, maintenance, voids, finance and tax. Using the £1,100 pcm midpoint asking rent gives £13,200 annual gross rent and a 66% guide-price yield, or approximately 60.6% including the known £1,800 admin charge. These figures are indicative only because the rents are asking rents and key leasehold costs are absent.

Flip Analysis

The base GDV is estimated at £72,500 from supplied Kentish House completed sales. A project-cost calculation cannot be completed reliably because refurbishment costs, selling costs and other disbursements are not supplied. The apparent difference between base GDV and the guide is not a supported flip profit.

Investor Risks & Due Diligence

• The property is leasehold and no service charge or ground rent information is supplied.

• Additional disbursements, search fees, seller costs, legal fees and transfer fees may be payable under the legal pack.

• The rent evidence is advertised asking rent rather than achieved passing rent.

• The property is described as student accommodation, but no letting, management or lender restrictions are supplied.

• The exact condition and any refurbishment requirement are unknown.

• The comparable sales differ in detail and the exact specifications and condition of the subject flat are not supplied.

• Vacant possession means there is no evidence of existing rental income.

Recommendation

Potentially suitable for a low-cost BTL or BRRR investigation, subject to legal-pack review, leasehold charges, condition, student-accommodation restrictions, achievable rent and financeability. Do not rely on the headline yield or bid without those checks.

Strategy Rating

Analysis Confidence

There are relevant completed sales in the same named building and two asking-rent sources, but the exact comparable specifications, condition, service charges, ground rent, EPC, legal-pack disbursements, refurbishment requirements and achieved rent are unavailable.