Leighton Buzzard, LU7 35% BMV
A two-bedroom leasehold apartment in Leighton Buzzard, Bedfordshire, offered vacant with offers in excess of £110,000 against an on-market value of circa £170,000 on a post-refurbishment basis, representing approximately 35% below market value. The lease has approximately 105 years remaining, with a service charge of £2,836 per annum and ground rent of £166 per annum. The property measures 64 sq m / 688 sq ft and benefits from vacant possession. The location offers strong local amenities including schools, shopping, healthcare, and Leighton Buzzard Railway Station, all within 0.5 miles. Timescale for completion is 28 days.
A two-bedroom leasehold apartment in Leighton Buzzard, offered with vacant possession and presenting a refurbishment opportunity, with an on-market value of circa £170,000 achievable post-works. The property spans 64 sq m (688 sq ft) and is well located close to schools, shops, healthcare, and Leighton Buzzard Railway Station, all within 0.5 miles, making it well suited to owner-occupiers or investors.
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Financial Analysis
Comparable 2 - Sold: 2-bedroom leasehold flat, Leighton Buzzard LU7 2AJ - Sold 20/05/2024 | £225,000 | 731.95 ft² | 0.56 miles from subject property
Comparable 3 - Sold: 2-bedroom leasehold flat, Leighton Buzzard LU7 1HR - Sold 08/05/2024 | £196,500 | 484.38 ft² | 0.29 miles from subject property
SSTC Supporting Evidence: Further supporting comparables currently SSTC in the area range from £190,000 to £225,000 for 2-bedroom flats within 1 mile of the subject property. Street-level evidence from the same building (Magnon Court) shows numerous recent sales, with the most recent recorded sale at £209,000 (April 2024) and other flats in the block ranging from £169,000 to £220,000 over the past 12–18 months. Subject property is being offered at £110,000 OIEO, representing approximately 35% below the post-refurbishment market value.
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Fee to Pay £1056$ 1,432 *$ 1,983 *$ 1,972 *€ 1.229 * (Inc VAT)
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