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See how verdicts work2-bedroom property · CV31 3LS
Opportunity summary
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About
Being offered for sale with the benefit of no chain, this purpose built second floor retirement apartment is suitable for those aged 55 years and over and offers an excellent range of on-site facilities which are managed by Orbit Care.
The apartment itself offers spacious accommodation with notable features including a balcony off the lounge with the principal windows of the apartment facing inwards onto the communal quadrangle garden.
The kitchen is equipped with appliances including hob, oven and fridge freezer, whilst the spacious wet room style shower room allows access for a wheelchair user, whilst also being highly practical.
Heating and water charges are included within the overall service charge at Queensway Court making this an ideal home for those wishing to take advantage of the excellent facilities available at Queensway Court, along with the convenience of its location close to Leamington Spa town centre, the Shires Retail Park and Leamington Railway Station.
We understand that mains water, electricity and drainage are connected to the property.
We have not carried out any form of testing of appliances, central heating or other services and prospective purchasers must satisfy themselves as to their condition and efficiency.
Location - Queensway lies a short distance south of central Leamington Spa, being close to a recently built Aldi supermarket, along with further supermarket and shopping facilities on the Shires Retail Park.
Town centre facilities are also easily accessible, there being good local road links available out of the town including those to neighbouring towns and centres, along with the Midland motorway network.
Leamington Spa railway station is also conveniently accessible providing regular rail links to many destinations.
On The Ground Floor - Communal Reception Area - From which access is available to the cafe facilities etc and from where both steps and lifts ascend to:- Second Floor Level - Where a private entrance door gives access to the apartment itself and:- Spacious Entrance Hall - With built-in cupboard housing the water system, radiator, emergncy pull cord and doors radiating to:- Lounge - 4.88m x 3.43m (16'0" x 11'3") - Which enjoys an open plan aspect to the kitchen, radiator with thermostatic control, entry telephone and double glazed door opening onto:- Pleasant Balcony - Overlooking the quadrangle communal garden, having metal balustrade surrounding and providing space for table and chairs etc.
Kitchen - 3.43m x 2.18m (11'3" x 7'2") - Which is comprehensively equipped with a range of units in a cream gloss finish comprising comprehensive base cupboards and drawers, over which are granite effect worktops with tiled splashbacks and being complemented by a coordinating range of wall cabinets, inset stainless steel sink unit together with integrated appliances comprising electric hob with stainless steel filter hood over, integrated electric oven with cupboards above and below, integrated fridge freezer and wood effect flooring.
Bedroom One - 4.95m x 2.97m (16'3" x 9'9") - With double glazed picture style window overlooking the communal quadrangle garden and radiator with thermostatic control.
Bedroom Two - 3.02m x 2.84m (9'11" x 9'4" ) - plus wide door recess. With double glazed picture window overlooking the quadrangle and radiator with thermostatic control.
Shower Room - 3.48m x 1.85m (11'5" x 6'1") - A spacious wet room style shower room allowing access for a wheelchair user and comprising tiled shower area with fitted shower unit and floor soakaway, wall mounted wash hand basin with mixer tap, low level WC with push button flush, radiator with thermostatic control and mirrored recess over the wash hand basin having downlighter.
Outside - Communal Gardens - Externally within Queensway Court there is a substantial and attractive communal garden area set with lawns, various raised beds and trees and communal seating areas.
Communal Parking - There is ample communal parking available to both the front and rear of Queensway Court. Tenure - The property is of leasehold tenure for a term of 125 years from 4th August 2014.
There are approximately 114 years remaining unexpired. Ground rent is payable of £150 per annum, this being including within the quoted service charge.
Service Charge - The annual service charge presently stands at approximately £5,838.84p which equates to approximately £486.57p per calendar month.
This includes rent, service charge, heating charge, water charge, ground rent and care charge.
Shared Ownership - It should be noted that the property is sold on the basis of a 99% share as part of a shared ownership scheme with Orbit Housing Association.
Any agreed sale is subject to housing association eligibility criteria which any prospective purchaser must ensure that they satisfy. Directions - Postcode for sat-nav - CV31 3LS.
Value & comps
No previous sales on record.
Returns
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Archie refurb estimate: a Pro feature
0.0% below asking
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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.
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