2 Bed Flat, Cash/Bridging Only, Wallasey, CH45 2NQ, £115,000

Portland Court, Wellington Road, New Brighton, CH45 2NQ - 1 views - 3 months ago

Leasehold

Cash

ROI: 4%

~68 m²

+10 photos

ValuationFair Value

Sold Prices	£66K - £211.5K
Sold Prices/m²	£972/m² - £3.3K/m²

Square Metres	~68.11 m²
Price/m²	£1.7K/m²
Value Estimate	£116,150£116,150

End Value (After Refurb)	£108,516£108,516

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£28,750£28,750
Stamp Duty & Legal Fees	£4,650£4,650
Refurb Costs	£28,876£28,876
Bridging Loan Interest	£3,019£3,019
Total Cash In	£67,045£67,045

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£108,516£108,516
Mortgage (After Refinance)	£81,387£81,387
Mortgage LTV	75%75%
Cash Left In	£67,045£67,045
Equity	£27,129£27,129
Rent Range	£550 - £1,100£550 - £1,100
Rent Estimate	£748
Running Costs/mo	£509£509
Cashflow/mo	£239£239
Cashflow/yr	£2,871£2,871
ROI	4%4%
Gross Yield	8%8%

Local Sold Prices

32 sold prices from £66K to £211.5K, average is £135K. £972/m² to £3.3K/m², average is £1.8K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£90K	06/23	0.01 mi	Flat 10, Portland Court, Wellington Road, Wallasey, Merseyside CH45 2NQ	-	-	2	Flat
£160K	07/21	0.12 mi	Flat 10, Warren Hurst, Montpellier Crescent, Wallasey, Merseyside CH45 9HZ	-	-	2	Flat
£175K	03/21	0.16 mi	Apartment 7, Montpellier Court, Montpellier Crescent, Wallasey, Merseyside CH45 9LH	-	-	2	Flat
£175K	02/21	0.16 mi	Apartment 4, Montpellier Court, Montpellier Crescent, Wallasey, Merseyside CH45 9LH	-	-	2	Flat
£170K	10/22	0.21 mi	12a, Dudley Road, Wallasey, Merseyside CH45 9JP	£1,809	94	2	Flat
£145K	09/21	0.22 mi	15a, Dudley Road, Wallasey, Merseyside CH45 9JP	£1,465	99	2	Flat
£142K	11/20	0.25 mi	56c, Warren Drive, Wallasey, Merseyside CH45 0JT	-	-	2	Flat
£195K	07/23	0.26 mi	Ground Floor Flat, 12, Ennerdale Road, Wallasey, Merseyside CH45 0LY	-	-	2	Flat
£211.5K	11/21	0.3 mi	25, Hamilton Road, Wallasey, Merseyside CH45 9JF	-	-	2	Flat
£122K	01/23	0.31 mi	7a, Sidney Avenue, Wallasey, Merseyside CH45 9JL	£2,033	60	2	Flat
£150K	02/23	0.4 mi	27, Waterloo Road, Wallasey, Merseyside CH45 2JN	£1,948	77	2	Flat
£140K	03/23	0.42 mi	Flat 3, Willow Garth, St Georges Mount, Wallasey, Merseyside CH45 9LQ	£972	144	2	Flat
£133K	04/23	0.57 mi	65, Victoria Parade, Wallasey, Merseyside CH45 2PH	-	-	2	Flat
£125K	03/23	0.57 mi	59, Victoria Parade, Wallasey, Merseyside CH45 2PH	-	-	2	Flat
£135K	03/21	0.6 mi	29, Roseate Court, Wallasey, Merseyside CH45 3QW	£2,328	58	2	Flat
£135K	03/21	0.6 mi	21, Roseate Court, Wallasey, Merseyside CH45 3QW	-	-	2	Flat
£165K	07/21	0.6 mi	9, Roseate Court, Wallasey, Merseyside CH45 3QW	£2,557	65	2	Flat
£124K	03/21	0.64 mi	20, Dunlins Court, Wallasey, Merseyside CH45 3QN	£2,385	52	2	Flat
£135K	05/21	0.65 mi	Flat 1, Pier House, Tower Promenade, Wallasey, Merseyside CH45 2JY	-	-	2	Flat
£150K	10/22	0.65 mi	Flat 18, Pier House, Tower Promenade, Wallasey, Merseyside CH45 2JY	-	-	2	Flat
£170K	04/23	0.68 mi	3, Cormorant Court, Wallasey, Merseyside CH45 3QL	£3,289	52	2	Flat
£66K	01/21	0.71 mi	Flat 6, Melling Court, Melling Road, Wallasey, Merseyside CH45 1NN	-	-	2	Flat
£91.3K	05/23	0.71 mi	Flat 13, Melling Court, Melling Road, Wallasey, Merseyside CH45 1NN	-	-	2	Flat
£90K	12/22	0.71 mi	Flat 4, Melling Court, Melling Road, Wallasey, Merseyside CH45 1NN	-	-	2	Flat
£110K	12/22	0.71 mi	4a, Hamlet Road, Wallasey, Merseyside CH45 6UT	-	-	2	Flat
£130K	10/21	0.72 mi	Ground Floor Flat, 197, Rake Lane, Wallasey, Merseyside CH45 5DQ	-	-	2	Flat
£110K	07/23	0.72 mi	225c, Seaview Road, Wallasey, Merseyside CH45 4PD	£1,325	83	2	Flat
£137.5K	02/21	0.94 mi	28a, Holland Road, Wallasey, Merseyside CH45 7RB	£1,580	87	2	Flat
£107K	01/23	0.95 mi	9, Village Mews, Wallasey, Merseyside CH45 3HD	£1,646	65	2	Flat
£105K	12/22	0.95 mi	3, Village Mews, Wallasey, Merseyside CH45 3HD	-	-	2	Flat
£82.5K	10/20	0.98 mi	Flat 17, Penkett Court, Penkett Road, Wallasey, Merseyside CH45 7RQ	-	-	2	Flat
£142.5K	12/22	0.98 mi	80a, Seabank Road, Wallasey, Merseyside CH45 7PG	£1,676	85	2	Flat

Local Rents

26 rents from £550/mo to £1.1K/mo, average is £750/mo.

Rent	Date	Distance	Address	Beds	Type
£650	04/24	0.06 mi	Wellington Court, New Brighton	2	Flat
£750	04/24	0.16 mi	Montpellier Crescent, Wallasey	2	Flat
£850	04/25	0.18 mi	-	2	Flat
£700	04/24	0.23 mi	Salisbury Road, Wallasey	2	Flat
£1,100	04/25	0.28 mi	-	2	Flat
£1,100	04/25	0.28 mi	-	2	Flat
£695	04/24	0.29 mi	-	2	Flat
£995	04/25	0.32 mi	-	2	Flat
£750	04/24	0.34 mi	Victoria Road, New Brighton	2	Flat
£675	04/24	0.34 mi	Victoria Road, Wallasey, Wirral	2	Flat
£650	03/24	0.38 mi	Rowson Street, New Brighton, CH45	2	Flat
£675	03/24	0.4 mi	Waterloo Road, New Brighton, Wirral	2	Flat
£950	05/24	0.41 mi	Waterloo Road, New Brighton, CH45	2	Terraced House
£750	03/24	0.42 mi	Egerton Court Rowson Street, New Brighton, CH45	2	Flat
£795	03/24	0.46 mi	Rowson Street, Wallasey	2	Flat
£575	02/24	0.5 mi	-	2	Flat
£725	04/24	0.52 mi	Egerton Street, New Brighton, Wirral	2	Flat
£775	03/24	0.56 mi	Rowson Street, WALLASEY	2	Flat
£750	05/24	0.56 mi	Rowson Street, New Brighton, Wallasey	2	Flat
£675	04/24	0.56 mi	Coronation Avenue, Wallasey	2	Flat
£875	03/24	0.56 mi	The Warren, Grove Road, Wallasey	2	Flat
£725	04/24	0.57 mi	Coronation Avenue, Wallasey, Wirral	2	Flat
£750	03/24	0.57 mi	Rowson Street, New Brighton, Wirral	2	Flat
£925	03/24	0.59 mi	Molyneux Drive, Wallasey	2	Flat
£550	03/24	0.6 mi	Tollemache Street, Wallasey, Wirral	2	Flat
£750	02/24	0.6 mi	-	2	Flat

Local Area Statistics

Population in CH45	30,79330,793
Population in Wallasey	60,79060,790
Town centre distance	1.04 miles away1.04 miles away
Nearest school	0.30 miles away0.30 miles away
Nearest train station	0.19 miles away0.19 miles away

Rental demand	Balanced marketBalanced market
Rental growth (12m)	+60%+60%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+23%+23%

Property History

Listed for £115,000

January 22, 2025

Floor Plans

Description

First Floor Apartment +
Leasehold 47 Years +
592 sq ft Approx +
Cash Buyers Only +
Stunning Views +
Two Bedrooms +
Modern Bathroom +
Residents Parking +
Beautifully Presented +
Convenient Location +

Two bedroom apartment in a popular development! Enjoying stunning views of the River and Liverpool Bay, this is complete with intercom/ lift access and is tastefully decorated throughout. Complete with residents parking, communal gardens and ideal location just walking distance to the Promenade.

Due to having a shorter lease of 53 years, this is applicable for cash offers only.

Upon entry, there is the well-presented communal seating area and concierge desk. The apartment itself is found on the first floor and is accessed by the stairwell or lift.

Upon entering the apartment the bright living room is to your immediate right with the two bedrooms straight ahead; all three of these rooms enjoy large windows which flood the room with natural light as well as framing the uninterrupted views of the River and Liverpool Bay. There is then the fitted kitchen and a luxury modern shower room.

Externally, there are ample spaces in the residents parking area and wrap-around, well-maintained communal gardens.

Ideally located just walking distance to the Promenade and all that New Brighton front has to offer.

Call the Wallasey Branch today to arrange your own viewing.

Agent Details

Karl Tatler Estate Agents, Wallasey

0151 453 2840

Next Steps?

This deal was sourced from Rightmove. Contact the landlord/agent for a viewing now 💪