Modern Method of Auction
Auction date not yet published
We've tightened what earns a Pursue. A home now needs a published valuation, a strategy that still makes money after real running costs and lender stress tests, and no listing problems that would stop a mortgage. You'll see fewer Pursues, and each one has been checked harder.
See how verdicts work3 × 1-bed flat · GL1 1RE
For saleListed 161 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
*Freehold Block of Three One-Bedroom Flats - Vacant Possession* A well-presented freehold investment opportunity located in the heart of Gloucester city centre, comprising three self-contained one-bedroom flats arranged over multiple floors.
Situated on Cromwell Street, the property is within easy reach of Gloucester city centre amenities, including shops, cafes and leisure facilities, as well as the historic Gloucester Docks and railway station, making it highly convenient for residents.
The property is offered to the market with vacant possession, allowing purchasers flexibility to set their own rents, refurbish if required, or reposition the asset to maximise returns.
The property has been thoughtfully converted to provide three individual units, each offering well-proportioned and practical accommodation.
As illustrated by the accompanying floorplan, the building benefits from a logical and efficient layout, with each flat including living space, kitchen facilities, double bedroom accommodation and bathroom provisions.
The living accommodation, as demonstrated in the images, is bright and neutrally decorated, with attractive flooring and good natural light, making the spaces appealing to a wide range of occupiers.
Externally, the property enjoys a generous rear garden, mainly laid to lawn with a pathway leading to the rear access.
This outside space provides a valuable addition for tenants and enhances the overall appeal of the building.
**This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period").
Interested parties personal data will be shared with the Auctioneer (iamsold). If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The winning bidder will pay £349.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT.
This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00.
These services are optional.
We offer free financial consultations to all our customers, including specialist advice on Modern Method purchases, so please ask us for further details and/or to book your appointment when you contact us about this property.
Flat 1 – Ground Floor Lounge (3.8m x 3.78m) A well-proportioned principal room positioned to the front, featuring a bay window allowing for ample natural light.
Bedroom (3.94m x 2.3m) A generously sized bedroom overlooking the side aspect. Kitchen (2.64m x 1.73m) Fitted with a range of base and wall-mounted units, work surfaces and space for appliances.
Shower Room Comprising a shower cubicle, wash hand basin and WC.
Flat 2 – First Floor Reception Room (5.08m x 3.76m) A spacious principal reception room with ample room for both living and dining furniture.
Bedroom (3.96m x 2.3m) A well-sized double bedroom overlooking the side/rear. Kitchen (2.82m x 2.3m) Fitted kitchen offering a range of units, work surfaces and space for freestanding appliances.
Bathroom (1.85m x 1.78m) Fitted with a panelled bath, wash hand basin and WC.
Flat 3 – Second Floor Reception Room (4m x 3.28m) A bright and well-proportioned reception room positioned at the front of the property.
Bedroom (3.78m x 3.1m) A generously sized double bedroom with good usable floor space. Kitchen (2.77m x 1.83m) A compact fitted kitchen with worktops, storage units and space for appliances.
Shower Room Comprising a shower, wash hand basin and WC.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
This is not financial or investment advice. Prop AI Deals is not authorised by the Financial Conduct Authority (FCA) to provide investment advice.
All investment calculators, property analyses, and AI-generated insights are for informational purposes only. Property investment carries risk and may result in financial loss. All calculations should be independently verified and you should consult with FCA-authorised financial advisers before making any investment decisions.
Past performance does not guarantee future results. Tax implications vary by individual circumstances.
Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
Agent & docs
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FAQ
About 38, Cromwell Street, Gloucestershire
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