1-bedroom flat · SS16 5GL
SoldListed 263 daysAuction 17 Feb · ended
Opportunity summary
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About
FOR SALE BY ONLINE AUCTION ON 17TH FEBRUARY 2026 TO REGISTER FOR LEGAL PACKS AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE Residential Investment - a contemporary first floor flat in Central Basildon - currently let producing £10,980 a year (£915 pcm) This well planned first floor flat situated in this contemporary block in Morello Quarter is let on an Assured Shorthold Tenancy currently producing £10,980 a year with the current Rental Value believed to be around £1,250 pcm (£15,000 pa).
The flat benefits from a private patio area and a larger communal external seating area.
There is also an allocated and secure under croft car parking space, Ground Floor Communal Entrance Reception with Secure Entry System. Lifts providing access to all floors and lower parking levels.
First Floor Communal hallways leading from Stairs and Lifts to Personal entrance Door Cloakroom/WC Entrance Hall Lounge/Kitchen/Diner 28'8" x 16'11" (maximum) Bedroom 13'8" x 7'2" Patio Doors to Private Patio En-suite 7'3" x 7'2" External Private Patio 7'9" x 7'2" leading to Communal seating area.
Secure Basement Allocated Car Parking Space (#344 on upper parking level) Council Tax Band B Leasehold Information Term: 125 years from 1 January 2009 (108 years remaining) Annual ground rent amount: Please refer to Legal Pack Ground rent review period: Please refer to Legal Pack Annual service charge amount: Please refer to Legal Pack Service charge review period: Please refer to Legal Pack Tenure: Leasehold Lease Details: 125 years from 01/01/2009 EPC Rating: C Administration Fee: £1200 inc VAT payable on exchange of contracts.
Buyer's Premium Fee: £1200 inc VAT payable on exchange of contracts. Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Value & comps
No previous sales on record.
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Returns
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Archie refurb estimate: a Pro feature
0.0% below starting price
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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.
Area
Agent & docs
FAQ
About 115 Cherrydown East, Basildon, Essex SS16 5GL
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