2 Bed Flat, Refurb/BRRR, GL7 2QU, £250,000

Abbey House, Cirencester, Gloucestershire, GL7 2QU - 1 views - 2 months ago

Leasehold
Refurb/BRRR
ROI: 2%
~68 m²
+11 photos

ValuationOvervalued

Sold Prices£115K - £470K
Sold Prices/m²£1.9K/m² - £4.7K/m²

 

 

Square Metres

~68.11 m²
Price/m²£3.7K/m²

Value Estimate

£184,686

 

 

End Value (After Refurb)

£281,328

Uplift in Value

+13%

Investment Opportunity

Cash In

 

Purchase Finance

Bridging Loan

Deposit (25%)

£62,500

Stamp Duty & Legal Fees

£8,700

Refurb Costs

£27,612

Bridging Loan Interest

£6,563

Total Cash In

£107,124

 

 

Cash Out

 

Monetisation

FlipRefinance & Rent

Revaluation

£281,328

Mortgage (After Refinance)

£210,996

Mortgage LTV

75%

Cash Released

£23,496

Cash Left In

£83,628

Equity

£70,332

Rent Range

£850 - £2,800

Rent Estimate

£1,298

Running Costs/mo

£1,159

Cashflow/mo

£139

Cashflow/yr

£1,671

ROI

2%

Gross Yield

6%

Local Sold Prices

44 sold prices from £115K to £470K, average is £183.5K. £1.9K/m² to £4.7K/m², average is £2.8K/m².

PriceDateDistanceAddressBeds 
£220K03/210.01 mi16, Abbey House, Cirencester, Gloucestershire GL7 2QU2
£195K11/200.01 mi12, Abbey House, Cirencester, Gloucestershire GL7 2QU2
£220K11/200.01 mi7, Abbey House, Cirencester, Gloucestershire GL7 2QU2
£240K11/200.01 mi11, Abbey House, Cirencester, Gloucestershire GL7 2QU2
£209K11/200.1 mi5, Mullings Court, Cirencester, Gloucestershire GL7 2AW2
£300K07/230.1 mi1, Mullings Court, Cirencester, Gloucestershire GL7 2AW2
£145K11/210.11 miFlat 1, Palestra Lodge, The Waterloo, Cirencester, Gloucestershire GL7 2PZ2
£170K03/210.18 miFlat 6, Paget House, The Waterloo, Cirencester, Gloucestershire GL7 2QF2
£195K11/210.18 miFlat 2, Hill House, The Waterloo, Cirencester, Gloucestershire GL7 2QX2
£210K11/220.18 miFlat 21, Hoopers Court, West Way, Cirencester, Gloucestershire GL7 1GS2
£197.5K06/230.19 miFlat 25, Hoopers Court, West Way, Cirencester, Gloucestershire GL7 1GS2
£130K11/210.2 miFlat 8, St. Blaize Court, West Way, Cirencester, Gloucestershire GL7 1JA2
£212.8K06/230.2 miFlat 6, St Blaize Court, West Way, Cirencester, Gloucestershire GL7 1JA2
£148K08/230.2 miFlat 9, St. Blaize Court, West Way, Cirencester, Gloucestershire GL7 1JA2
£182K09/210.23 miFlat 6, St Blaize Court, West Way, Cirencester, Gloucestershire GL7 1JA2
£170K04/210.24 mi68b, Cricklade Street, Cirencester, Gloucestershire GL7 1JN2
£185K06/210.25 miApartment 1, 1 New Akeman Court, West Way, Cirencester, Gloucestershire GL7 1FU2
£159K09/210.26 mi9, Trafalgar Road, Cirencester, Gloucestershire GL7 2EJ2
£178K07/230.26 mi9, Trafalgar Road, Cirencester, Gloucestershire GL7 2EJ2
£228.5K05/230.29 miFlat 7, Oxford House, London Road, Cirencester, Gloucestershire GL7 2PU2
£225.2K08/210.29 miFlat 1, Oxford House, London Road, Cirencester, Gloucestershire GL7 2PU2
£300K06/210.31 miFlat 7, Cotswold Mill, Lewis Lane, Cirencester, Gloucestershire GL7 1EL2
£287K10/210.31 miFlat 14, Cotswold Mill, Lewis Lane, Cirencester, Gloucestershire GL7 1EL2
£470K12/220.33 mi15, Mill Place, Cirencester, Gloucestershire GL7 2BG2
£280K12/220.35 miFlat 3, Beresford House, Shepherds Way, Cirencester, Gloucestershire GL7 2EX2
£178K11/210.35 miFlat 1, Beresford House, Shepherds Way, Cirencester, Gloucestershire GL7 2EX2
£250K01/230.35 miFlat 7, Beresford House, Shepherds Way, Cirencester, Gloucestershire GL7 2EX2
£300K11/220.65 miApartment 22, Beecham Lodge, Somerford Road, Cirencester, Gloucestershire GL7 1WR2
£135K10/200.67 mi60, Stepstairs Lane, Cirencester, Gloucestershire GL7 1LA2
£136K05/210.67 mi62, Stepstairs Lane, Cirencester, Gloucestershire GL7 1LA2
£340K11/220.77 miFlat 11, Oakley Hall, Oaklands, Cirencester, Gloucestershire GL7 1FZ2
£320K06/210.77 miFlat 1, Oakley Hall, Oaklands, Cirencester, Gloucestershire GL7 1FZ2
£135K07/210.85 mi8, Acanthus Court, Cirencester, Gloucestershire GL7 1PW2
£177K11/220.85 mi12, Acanthus Court, Cirencester, Gloucestershire GL7 1PW2
£200K08/220.85 mi18, Acanthus Court, Cirencester, Gloucestershire GL7 1PW2
£136K01/210.87 mi12, Acanthus Court, Cirencester, Gloucestershire GL7 1PW2
£152.5K07/230.88 mi6, Fry Close, Cirencester, Gloucestershire GL7 1HX2
£133K06/230.89 mi28, Melmore Gardens, Cirencester, Gloucestershire GL7 1NR2
£160K06/230.9 mi44, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2
£120K04/210.9 mi44, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2
£127.5K03/210.9 mi66, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2
£167.5K06/230.9 mi45, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2
£115K09/210.9 mi54, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2
£120K04/210.9 mi40, Melmore Gardens, Cirencester, Gloucestershire GL7 1NS2

Local Rents

17 rents from £850/mo to £2.8K/mo, average is £1.2K/mo.

RentDateDistanceAddressBeds 
£99512/240.08 miMullings Court, CIRENCESTER2
£99504/240.09 miMullings Court, Cirencester2
£1,60004/240.1 miDollar Street, Cirencester2
£1,00003/250.18 mi-2
£1,29512/240.19 miGloucester Street, Cirencester2
£2,80004/240.25 mi-2
£1,25004/240.29 miLondon Road, Cirencester, Gloucestershire, GL72
£1,17501/250.3 mi-2
£1,25004/240.3 miLewis Lane, CIRENCESTER2
£1,15012/240.33 miQuerns Lane, Cirencester2
£1,22504/240.35 miShepherds Way, Cirencester, Gloucestershire, GL72
£1,35004/250.37 mi-2
£1,19512/240.38 miChester Street, Cirencester2
£99504/240.43 miBeeches Road, Cirencester2
£1,25002/250.54 mi-2
£85001/240.6 mi-2
£85003/250.6 mi-2

Local Area Statistics

Population in GL7

42,518

Nearest school

0.20 miles away

Nearest train station

3.75 miles away

 

 

Rental demand

Balanced market

Rental growth (12m)

+18%

Sales demand

Balanced market

Capital growth (5yrs)

+18%

Property History

Listed for £250,000

February 17, 2025

Floor Plans

Description

  • Town centre apartment +
  • Two double bedrooms +
  • Top (second) floor +
  • In need of updating +
  • Sitting room +
  • Kitchen dining room +
  • Shower room +
  • Garage and communal gardens +
  • NO ONWARD CHAIN +

Being offered for sale with no onward chain and wonderfully situated in Cirencester town centre, in a tucked-away, quiet and secure setting is this spacious two bedroom second floor apartment with garage.

The accommodation is in need of updating and currently comprises entrance hall, sitting room, two bedrooms, WC, shower room and kitchen dining room. The sitting room and both bedrooms offer a sunny southerly aspect overlooking the stunning Church of St. John Baptist.

The property further benefits from a single en-bloc garage and communal gardens.

The apartment is Leasehold with an original term of 999 years from 1st August 1991.

Service Charge is £1600 per annum, with a Peppercorn Ground Rent.

The market town of Cirencester is often referred to as the 'Capital of the Cotswolds'. It is ideally located with the M4, M5 and M40/A40, the mainline train station at Kemble and excellent bus and coach links all within easy reach.

Cirencester benefits from high street stores, independent specialist retailers, and a weekly market. There are also several delightful bistros, cafes, wine bars and public houses to suit all tastes. Cirencester boasts a community hospital, leisure centre, arts and craft centre, award winning museum, a theatre and a lovely outdoor swimming pool. Nearby there is golf, tennis, riding, football, rugby and cricket, and within the town a bowls club.

There are excellent primary and secondary state schools and a sixth form college campus. There are also good independent schools in the surrounding areas. The Royal Agricultural University is located just outside of the town and the area has numerous open green areas to visit for picnics and walks.

Agent Details

Perry Bishop, Cirencester

01285 704455

Next Steps?

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