2 Bed Flat, Cash/Bridging Only, Southampton, SO14 3BW, £155,000

Orchard Place, Southampton, Hants, SO14 3BW - 2 views - 4 months ago

Sold STC
Leasehold
Cash
ROI: 8%
~68 m²
+6 photos

ValuationFair Value

Sold Prices£85K - £395K
Sold Prices/m²£1.2K/m² - £3.9K/m²

 

 

Square Metres

~68.11 m²
Price/m²£2.3K/m²

Value Estimate

£155,000

 

 

End Value (After Refurb)

£194,037

Uplift in Value

+25%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£38,750

Stamp Duty & Legal Fees

£5,850

Refurb Costs

£30,563

Bridging Loan Interest

£4,069

Total Cash In

£80,981

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£194,037

Mortgage (After Refinance)

£145,528

Mortgage LTV

75%

Cash Released

£29,278

Cash Left In

£51,704

Equity

£48,509

Rent Range

£1,000 - £2,900

Rent Estimate

£1,485

Running Costs/mo

£923

Cashflow/mo

£562

Cashflow/yr

£6,740

ROI

8%

Gross Yield

11%

Local Sold Prices

48 sold prices from £85K to £395K, average is £187.5K. £1.2K/m² to £3.9K/m², average is £2.9K/m².

PriceDateDistanceAddressBeds 
£250K03/230.05 mi16a, Oxford Street, Southampton SO14 3DJ2
£315K11/210.08 miFlat 147, Oceana Boulevard, Orchard Place, Southampton SO14 3HW2
£130K11/210.1 miFlat 20, St James House, Orchard Lane, Southampton SO14 3DH2
£190K12/200.15 miFlat 2, Imperial Apartments, South Western House, Southampton SO14 3DW2
£228K03/210.17 miFlat 20, The Albany, Gloucester Square, Southampton SO14 2GH2
£255K05/210.19 miFlat 51, The Greenwich, Gloucester Square, Southampton SO14 2GJ2
£142K03/210.26 mi47, White Star Place, Southampton SO14 3GN2
£137K02/210.27 mi46, White Star Place, Southampton SO14 3GN2
£270K09/210.28 miFlat 4, Mayflower Court, Bugle Street, Southampton SO14 2AP2
£185K07/210.35 miFlat 6, Raleigh House, The Compass, Southampton SO14 5BP2
£298.5K05/230.35 mi37 The Moresby Tower, Admirals Quay, Ocean Way, Southampton SO14 3LF2
£395K02/230.36 mi137 The Hawkins Tower, Admirals Quay, Ocean Way, Southampton SO14 3LH2
£177K04/210.36 miFlat 34, Raleigh House, The Compass, Southampton SO14 5BP2
£205K11/200.37 miFlat 33, Columbus House, The Compass, Southampton SO14 5BQ2
£220K03/230.37 mi283 The Blake Building, Admirals Quay, Ocean Way, Southampton SO14 3LN2
£128K03/210.39 miFlat 12, Consulate House, Canute Road, Southampton SO14 3FW2
£270K03/230.4 miFlat 25, Cobalt Quarter, Maritime Walk, Southampton SO14 3JY2
£268K06/210.44 mi14, Alcantara Crescent, Southampton SO14 3HR2
£222K06/210.44 mi37, Alcantara Crescent, Southampton SO14 3HR2
£250K11/200.44 mi19, Alcantara Crescent, Southampton SO14 3HR2
£240K07/210.44 mi20, Alcantara Crescent, Ocean Village, Southampton SO14 3HR2
£265K05/230.44 mi13, Alcantara Crescent, Ocean Village, Southampton SO14 3HR2
£100K09/230.46 mi28, James Street, Southampton SO14 1PJ2
£225K07/210.49 mi17, Asturias Way, Southampton SO14 3HT2
£280K06/210.53 mi57, Andes Close, Southampton SO14 3HS2
£110K01/210.54 mi41, Atlantic Close, Southampton SO14 3TB2
£110K01/210.54 mi41, Atlantic Close, Southampton SO14 3TB2
£152K05/210.55 miFlat 32, Kingsland House, North Front, Southampton SO14 1LJ2
£275K06/230.56 mi30, Pacific Close, Ocean Village, Southampton SO14 3TX2
£290K05/210.56 mi17, Pacific Close, Southampton SO14 3TX2
£142K11/210.57 miFlat 6, Lewis House, North Front, Southampton SO14 1LH2
£200K04/210.58 mi98, Pacific Close, Southampton SO14 3TY2
£197.5K10/200.58 mi46, Pacific Close, Southampton SO14 3TY2
£120K04/210.62 mi185, Golden Grove, Southampton SO14 1TD2
£166K11/200.78 miFlat 3, Spitfire Court, Mitchell Close, Southampton SO19 7TN2
£175K06/230.78 miFlat 26, Spitfire Court, Mitchell Close, Southampton SO19 7TN2
£173.5K03/210.84 miArdent House, 29, John Thornycroft Road, Southampton SO19 9SP2
£117K03/210.85 miFlat 83, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£119K12/200.85 miFlat 161, Wyndham Court, Commercial Road, Southampton SO15 1GU2
£95K06/210.85 miFlat 99, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£85K02/230.85 miFlat 99, Wyndham Court, Commercial Road, Southampton SO15 1GT2
£85K02/230.87 miFlat 12, Hill House, Hill Street, Southampton SO19 7DB2
£200K03/230.9 mi79, Victoria Road, Woolston, Southampton SO19 9DZ2
£170K01/210.95 mi24, Mirabella Close, Southampton SO19 9AZ2
£175K07/230.96 mi26, Mirabella Close, Woolston, Southampton SO19 9AZ2
£170.5K10/210.96 mi15, Mirabella Close, Southampton SO19 9AZ2
£250K03/230.97 miFlat 35, Osborne House, Grosvenor Square, Southampton SO15 2DA2
£144K11/200.97 mi68, Tankerville Road, Southampton SO19 7GN2

Local Rents

48 rents from £1K/mo to £2.9K/mo, average is £1.3K/mo.

RentDateDistanceAddressBeds 
£1,20009/240 miOrchard Place, Southampton, Hampshire2
£1,12512/240 mi-2
£1,25009/240 miOrchard Place, Southampton, SO142
£1,15009/240 miCentral, Southampton2
£1,30012/240.02 mi-2
£1,10009/240.06 mi-2
£1,29502/240.06 mi-2
£1,60009/240.07 miOceana Boulevard, Briton Street2
£1,60009/240.07 miBriton Street, Southampton2
£1,25009/240.07 mi|Ref: R200209|, Oceana Boulevard, Briton Street, Southampton, SO14 3HU2
£1,29509/240.08 miOrchard Place, Oceana Boulevard Orchard Place, SO142
£1,50009/240.08 miQueens Terrace, Southampton, Hampshire, SO142
£1,79909/240.09 miQueensway, Southampton, Hampshire, SO142
£1,61909/240.09 miQueensway, Southampton, Hampshire, SO142
£1,45609/240.09 miQueensway, Southampton, Hampshire, SO142
£1,60509/240.09 miQueensway, Southampton, Hampshire, SO142
£1,45609/240.09 miQueensway, Southampton, Hampshire, SO142
£1,60509/240.09 miQueensway, Southampton, Hampshire, SO142
£1,25009/240.1 miOrchard Place, Southampton, Hampshire, SO142
£1,25009/240.11 miCarpathia Court, Briton Street, Southampton 2
£1,35009/240.12 mi15 Lower Canal Walk, Southampton2
£2,00009/240.12 miCity Court 15 Lower Canal Walk, Southampton, Hampshire2
£2,90009/240.12 mi-2
£2,90010/240.12 mi-2
£2,70002/250.12 mi-2
£1,27509/240.12 miLower Canal Walk, SOUTHAMPTON2
£1,00009/240.13 miTerminus Terrace, Southampton2
£1,00009/240.13 miTerminus Terrace, Southampton, Hampshire, SO142
£1,20009/240.13 miPlatform Road, Southampton, SO142
£1,12509/240.13 miPlatform Road, Southampton2
£1,25009/240.13 miLower Canal Walk, Southampton, Hampshire, SO142
£1,40009/240.14 miEmpress Heights, Southampton2
£1,05009/240.14 mi|Ref: R153568|, Terminus Terrace, Southampton, SO14 3BZ2
£2,60001/250.14 mi-2
£2,65002/250.14 mi-2
£1,37509/240.14 mi|Ref: R171351|, Century Court, Lower Canal Walk, Southampton, SO14 3GJ2
£1,50004/250.14 mi-2
£1,20002/240.15 mi-2
£1,90009/240.15 mi-2
£2,20010/240.15 mi-2
£2,00002/250.15 mi-2
£1,20009/240.15 miCollege Street, Southampton2
£2,20002/240.15 mi-2
£1,20009/240.15 miMerchants Quarters, Bri, Southampton, SO142
£1,25009/240.16 miTerminus Terrace, SO142
£1,27502/240.17 mi-2
£1,25009/240.17 miTelephone House, High Street, SO142
£1,49509/240.17 miThe Albany, Gloucester Square, Southampton2

Local Area Statistics

Population in SO14

27,223

Population in Southampton

428,247

Town centre distance

1.58 miles away

Nearest school

0.20 miles away

Nearest train station

0.88 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+2%

Sales demand

Buyer's market

Capital growth (5yrs)

+7%

Property History

Listed for £155,000

December 5, 2024

Floor Plans

Description

  • Two double bedroom city centre apartment +
  • Located 0.3 miles from a vibrant city centre +
  • Secure telephone entry system +
  • No onward chain +
  • Established in 2006 +
  • Private balcony +
  • Securely gated & allocated off road parking to the rear of building +
  • Generous sized lounge/dining room +
  • Cash purchasers only +

Established in 2006, this two double bedroom apartment is located 0.3 miles from Southampton's vibrant city centre. Leading into the apartment you’re welcomed into a generous sized entrance hall with a useful storage cupboard. The spacious lounge/dining room provides access to a tastefully designed kitchen which includes a full sized fitted dishwasher and washer/dryer. . Both bedrooms are double in size with each having a built-in wardrobe.

SERVICE CHARGE: £1946.98 Approx
GROUND RENT: £225 PA
LEASE: 104 YEARS

**This property is being sold on behalf of a corporate client. It is marketed subject to obtaining
the grant of probate and must remain on the market until contracts are exchanged. As part of a
deceased's estate it may not be possible to provide answers to the standard property
questionnaire. Please refer to the agent before viewing if you feel this may affect your buying

**Please note that any services, heating system or appliances have not been tested, and no
warranty can be given or implied as to their working order

Successful buyers will be required to complete online identity checks provided by Lifetime Legal. The cost of these checks is £80 inc. VAT per purchase which is paid in advance, directly to Lifetime Legal. This charge verifies your identity in line with our obligations as agreed with HMRC and includes mover protection insurance to protect against the cost of an abortive purchase.

These particulars are believed to be correct and have been verified by or on behalf of the Vendor. However, any interested party will satisfy themselves as to their accuracy and as to any other matter regarding the Property or its location or proximity to other features or facilities which is of specific importance to them. Distances and areas are only approximate and unless otherwise stated fixtures contents and fittings are not included in the sale. Prospective purchasers are always advised to commission a full inspection and structural survey of the Property before deciding to proceed with a purchase.

Agent Details

Leaders Waterside Properties Sales, Ocean Village

0238 254 4439

Next Steps?

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