2 Bed Flat, Cash/Bridging Only, Basingstoke, RG22 4FQ, £140,000

Wella Road, Basingstoke, RG22 4FQ - 8 views - 10 months ago

Leasehold
Cash
ROI: 7%
~68 m²
+5 photos

ValuationUndervalued

Sold Prices£120K - £250K
Sold Prices/m²£1.9K/m² - £4.3K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.1K/m²

Value Estimate

£144,200
BMV3%

 

 

End Value (After Refurb)

£243,737

Uplift in Value

+74%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£35,000

Stamp Duty & Legal Fees

£5,400

Refurb Costs

£31,195

Bridging Loan Interest

£3,675

Total Cash In

£77,020

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Estimated Sale Price

£243,737

Agent Fees (1%)

£2,437

Bridging Loan

£105,000

Bridging Loan Interest

£3,675

Flip Profit

£59,280

Local Sold Prices

50 sold prices from £120K to £250K, average is £199K. £1.9K/m² to £4.3K/m², average is £3.2K/m².

PriceDateDistanceAddressBeds 
£210K01/210.22 mi33, Halliday Close, Basingstoke, Hampshire RG21 3LA2
£188K01/210.22 mi41, Halliday Close, Basingstoke, Hampshire RG21 3LA2
£197.5K07/230.24 mi297, Cranbourne Lane, Basingstoke, Hampshire RG21 3NU2
£200K10/210.26 mi14, Bliss Close, Brighton Hill, Basingstoke, Hampshire RG22 4EJ2
£180K06/210.26 mi20, Bliss Close, Brighton Hill, Basingstoke, Hampshire RG22 4EJ2
£136.5K02/210.26 mi24, Bliss Close, Basingstoke, Hampshire RG22 4EJ2
£220K03/230.3 mi48, Grainger Close, Basingstoke, Hampshire RG22 4DZ2
£137K04/210.36 mi14, Purcell Close, Basingstoke, Hampshire RG22 4EL2
£195K10/210.36 mi19, Purcell Close, Basingstoke, Hampshire RG22 4EL2
£220K02/230.37 mi18, Elizabeth Road, Basingstoke, Hampshire RG22 6AX2
£222K10/220.38 mi2, Chichester Place, Basingstoke, Hampshire RG22 6HB2
£195K06/210.44 mi4, White House Close, Basingstoke, Hampshire RG22 6HD2
£221K01/230.44 mi43, Western Way, Basingstoke, Hampshire RG22 6DF2
£203K02/210.44 mi161a, Winchester Road, Basingstoke, Hampshire RG21 8YF2
£185K04/210.46 mi28, Borodin Close, Basingstoke, Hampshire RG22 4EN2
£225K12/220.49 mi178, Portsmouth Walk, Basingstoke, Hampshire RG22 6HE2
£185K06/210.52 mi76, Britten Road, Basingstoke, Hampshire RG22 4HP2
£185K06/210.52 mi76, Britten Road, Basingstoke, Hampshire RG22 4HP2
£120K09/220.53 mi80, Britten Road, Brighton Hill, Basingstoke, Hampshire RG22 4HP2
£200K06/210.54 mi9, Britten Road, Basingstoke, Hampshire RG22 4HN2
£185K02/210.54 mi107, Britten Road, Basingstoke, Hampshire RG22 4HN2
£185K04/210.57 mi3, St Andrews Road, Basingstoke, Hampshire RG22 6PS2
£209K03/230.57 mi3, St Andrews Road, Basingstoke, Hampshire RG22 6PS2
£220K02/210.6 mi9, Devonshire Place, Basingstoke, Hampshire RG21 8UU2
£229K04/210.6 mi10, Devonshire Place, Basingstoke, Hampshire RG21 8UU2
£225K12/220.6 mi24, Handel Close, Basingstoke, Hampshire RG22 4DJ2
£198K06/210.61 mi44, Western Way, Basingstoke, Hampshire RG22 6DB2
£212K02/230.61 mi284, Britten Road, Brighton Hill, Basingstoke, Hampshire RG22 4HR2
£199.9K11/220.62 mi23, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£190K04/210.62 mi17, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£183.5K02/210.62 mi45, Sylvia Close, Basingstoke, Hampshire RG21 3ND2
£163K05/230.63 mi56, Elgar Close, Brighton Hill, Basingstoke, Hampshire RG22 4DW2
£218K10/210.67 mi105, Penrith Road, Basingstoke, Hampshire RG21 8UR2
£212.5K12/200.67 mi82, Penrith Road, Basingstoke, Hampshire RG21 8UR2
£177.5K01/210.68 mi11, Lawrence Dale Court, Basingstoke, Hampshire RG21 8FP2
£175K10/220.71 mi35, Margaret Road, Basingstoke, Hampshire RG22 6PU2
£222K02/230.76 mi6, Wilton Place, Basingstoke, Hampshire RG21 7UD2
£175K03/230.82 mi122, St Peters Road, South Ham, Basingstoke, Hampshire RG22 6TG2
£172K05/210.83 mi140, Skippetts Gardens, Basingstoke, Hampshire RG21 3BY2
£216K08/230.86 mi12c, Beaconsfield Road, Basingstoke, Hampshire RG21 3DP2
£225K11/200.86 mi12b, Beaconsfield Road, Basingstoke, Hampshire RG21 3DP2
£162.5K01/210.88 mi32, St Michaels Road, Basingstoke, Hampshire RG22 6TW2
£229.7K06/210.88 mi13, Montague Place, Basingstoke, Hampshire RG21 3DS2
£188K01/210.89 mi14, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£245K06/230.89 mi12, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£250K12/220.89 mi21, Millennium Court, Basingstoke, Hampshire RG21 7RA2
£120K04/210.9 mi2, Rayleigh Road, Basingstoke, Hampshire RG21 7TJ2
£207K11/200.91 mi69, Skippetts Gardens, Basingstoke, Hampshire RG21 3FB2
£195K10/220.91 mi140b, Pinkerton Road, Basingstoke, Hampshire RG22 6RT2
£200K02/210.91 mi52, Russell Road, Basingstoke, Hampshire RG21 3EU2

Local Rents

28 rents from £875/mo to £2.9K/mo, average is £1.5K/mo.

RentDateDistanceAddressBeds 
£1,30007/240 miWella House, Wella Road, Basingstoke2
£1,85004/250 mi-2
£1,85002/250 mi-2
£2,20007/240.05 mi-2
£1,85007/240.05 miWella Road, Basingstoke, RG222
£1,85008/240.05 miWella Road, Basingstoke, RG222
£2,20007/240.05 mi-2
£2,20007/240.05 mi-2
£1,85008/240.05 mi-2
£1,85009/240.05 mi-2
£1,85009/240.05 mi-2
£1,90001/250.05 mi-2
£1,75007/240.08 miChampion House, Basingstoke2
£1,10007/240.19 miBessemer Road, Basingstoke, RG212
£1,09507/240.2 mi-2
£1,15007/240.35 miGrainger Close, BASINGSTOKE2
£1,20007/240.36 miPurcell Close, Brighton Hill, Basingstoke, RG222
£1,80007/240.44 mi-2
£2,85011/240.44 mi-2
£87507/240.44 miWinchester Road, Basingstoke2
£1,20008/240.49 mi-2
£1,20008/240.49 mi-2
£1,20007/240.49 miBritten Road, Basingstoke, RG222
£1,10002/250.53 mi-2
£1,30009/240.56 mi-2
£1,05007/240.57 mi-2
£1,00007/240.61 miBrighton Hill2
£1,05007/240.62 miSylvia Close2

Local Area Statistics

Population in RG22

41,925

Population in Basingstoke

120,645

Town centre distance

0.84 miles away

Nearest school

0.40 miles away

Nearest train station

1.28 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+17%

Sales demand

Seller's market

Capital growth (5yrs)

+20%

Property History

Listed for £140,000

June 21, 2024

Floor Plans

Description

  • Contemporary Property +
  • First Floor Apartment +
  • Two Double Bedrooms +
  • Open Plan Lounge Diner +
  • Fitted Kitchen +
  • Modern Bathroom +
  • Allocated Parking Space +
  • CASH BUYERS ONLY +

SUMMARY
CASH BUYERS - Two double bedroom apartment situated in a modern block with lifts to all floors offering an open plan kitchen diner, modern bathroom and allocated parking space. Situated in the convenient Wella Road location offering access to local amenities and superb transport links.

DESCRIPTION
Boasting no forward chain, this contemporary two bedroom first floor apartment is situated in the convenient location of Wella Road, offering superb access in and out of the town centre. The home features an entrance hall, a superb sized open plan lounge diner with fitted kitchen, two double bedrooms, modern bathroom and an allocated parking space. The property additionally benefits from large double glazed windows making the apartment feel very light and airy.

Situated on Wella Road, the property is right next to Brighton Hill Retail Park offering home stores, hardware stores, supermarkets and food services. Also close by are the Horwood Gardens and Kingsmill Road Open Spaces, providing opportunity for walks and fresh air. The flat benefits from being just over a mile away from Basingstoke's Town Centre, housing the Festival Place Shopping Centre, The Malls and mainline Train Station with a direct link to London Waterloo. There are multiple bus stops within close proximity providing routes into Town and across Basingstoke. The M3, the A339 to Newbury and A33 to Reading A30 are all easily accessible via car offering great travel links.

Kitchen, Lounge, Diner 17' 8" MAX x 14' 7" MAX ( 5.38m MAX x 4.45m MAX )
Three windows to front aspect, electric radiator, water take/storage cupboard, roll top worktop with cupboards and drawers under and cupboards over, space for washing machine, eclectic hob with extractor hood over, electric oven, space for fridge/freezer, integrated under counter fridge.

Bedroom 1  9' 5" MAX x 9' not into recess ( 2.87m MAX x 2.74m not into recess )
Two windows to front aspects, electric radiator

Bedroom 2 9' 10" not into recess x 8' 4" MAX ( 3.00m not into recess x 2.54m MAX )
Two windows to front aspect, electric radiator

Bathroom 
Pedestal sink, low-level WC, panel bath with shower over, electric towel rail radiator

Outside 

Parking 
1 allocated parking space

We currently hold lease details as displayed above, should you require further information please contact the branch. Please note additional fees could be incurred for items such as leasehold packs.

1. MONEY LAUNDERING REGULATIONS - Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2: These particulars do not constitute part or all of an offer or contract.
3: The measurements indicated are supplied for guidance only and as such must be considered incorrect.
4: Potential buyers are advised to recheck the measurements before committing to any expense.
5: Connells has not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances.
6: Connells has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor.

Agent Details

Connells, Basingstoke

01256 679188

Next Steps?

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