2 Bed Flat, Single Let, Bognor Regis, PO22 6JJ, £135,000

The Layne, Elmer, Bognor Regis, PO22 6JJ - 2 months ago

Sold STC
Leasehold
BTL
ROI: 9%
~58 m²
+5 photos

ValuationUndervalued

Sold Prices£98K - £330K
Sold Prices/m²£1.9K/m² - £5.2K/m²

 

 

Square Metres

~57.70 m²
Price/m²£2.3K/m²

Value Estimate

£167,400
BMV24%

Cashflows

Cash In

 

Purchase Finance

Mortgage

Deposit (25%)

£33,750

Stamp Duty & Legal Fees

£7,950

Total Cash In

£41,700

 

 

Cash Out

 

Rent Range

£825 - £1,250

Rent Estimate

£925

Running Costs/mo

£627

Cashflow/mo

£298

Cashflow/yr

£3,578

ROI

9%

Gross Yield

8%

Local Sold Prices

20 sold prices from £98K to £330K, average is £164.3K. £1.9K/m² to £5.2K/m², average is £3.1K/m².

PriceDateDistanceAddressBeds 
£164K01/210.29 mi92a, Elmer Road, Bognor Regis, West Sussex PO22 6EX2
£317.5K01/210.37 mi7, Freya Close, Bognor Regis, West Sussex PO22 7UQ2
£300K09/230.37 mi6, Freya Close, Bognor Regis, West Sussex PO22 7UQ2
£317.5K01/210.37 mi7, Freya Close, Bognor Regis, West Sussex PO22 7UQ2
£282.5K06/210.37 mi15, Freya Close, Bognor Regis, West Sussex PO22 7UQ2
£330K12/220.42 mi30, Thompson Road, Bognor Regis, West Sussex PO22 7UG2
£159.5K12/200.56 mi7, Nightingale Court, Bognor Regis, West Sussex PO22 7SU2
£150K12/220.57 mi22, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£180K01/230.57 mi42, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£165K07/230.57 mi11, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£117K10/210.57 mi15, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£140K07/230.57 mi17, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£125K08/230.57 mi45, Kingfisher Court, Bognor Regis, West Sussex PO22 7ST2
£164.5K07/210.63 miFlat 26, St Nicholas Court, Elmer Road, Bognor Regis, West Sussex PO22 6ES2
£116K03/210.63 miFlat 67, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF2
£98K03/210.63 miFlat 77, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF2
£150K05/230.63 miFlat 60, Buckingham Court, Shrubbs Drive, Bognor Regis, West Sussex PO22 7SF2
£275K06/230.7 mi11, Greenfields, Bognor Regis, West Sussex PO22 7SS2
£285K06/230.7 mi14, Greenfields, Bognor Regis, West Sussex PO22 7SS2
£124K05/230.87 mi15, Satinwood Close, Bognor Regis, West Sussex PO22 6SB2

Local Rents

12 rents from £825/mo to £1.3K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£1,20012/240.05 mi-2
£82502/250.12 mi-2
£89502/250.12 mi-2
£97507/240.28 miElmer Road, BOGNOR REGIS2
£1,20007/240.43 miAlfred Close, Bognor Regis2
£1,19507/240.53 miHarefield Gardens, Middleton on Sea2
£1,25007/240.81 miSilver Birch Drive, Middleton On Sea, Bognor Regis, PO222
£1,20007/240.81 miSilver Birch Drive, Middleton On Sea, Bognor Regis, PO222
£1,22508/240.89 miMiddleton-On-Sea2
£1,20007/241.09 miBaldwin Close, Bognor Regis2
£1,25008/241.12 miHenfield Way, Bognor Regis, PO222
£1,25008/241.13 miHenfield Way, Felpham, Bognor Regis, PO222

Local Area Statistics

Population in PO22

28,866

Population in Bognor Regis

68,380

Town centre distance

3.08 miles away

Nearest school

1.30 miles away

Nearest train station

2.80 miles away

 

 

Rental demand

Landlord's market

Rental growth (12m)

+3%

Sales demand

Balanced market

Capital growth (5yrs)

+16%

Property History

Price changed to £135,000

February 8, 2025

Listed for £145,000

January 6, 2025

Floor Plans

Description

  • No Chain +
  • Ground Floor Two Bedroom Apartment +
  • Elmer Sands Private Estate +
  • Private Rear Garden +
  • Garage & Parking +
  • 300m From Elmer Beach +
  • Modern Kitchen +
  • Close To Local Shop, Pub & Bus Links +

*No Chain*

Located on the private Elmer Sands Estate is this rare opportunity to purchase this two bedroom ground floor apartment with private rear garden.

The apartment is only 300m from Elmer Beach and the accommodation comprises of a spacious living room, modern kitchen, bathroom and two double bedrooms.

Externally you have a private rear garden, garage and off road parking.

Situated in a fantastic position, within walking distance is a local shop, two pubs and bus links into Bognor Regis.

Lease: 45 years
Service Charge: Believed to be Peppercorn (awaiting confirmation)
Ground Rent: £1
Cost to Extend The Lease: £45,000

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 decision.

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.

Sales Disclaimer:

‘’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.’’

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

Agent Details

Leaders Sales, Bognor Regis

01243 973384

Next Steps?

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