1, 3, 5, 7 & 9 St. Thomas Road, Spalding, Lincolnshire

Description

A block of five fully let one bedroom apartments with a rental income of £34,920 pa. Four of the units are on the ground floor and one on the first floor. Each unit has a lounge/kitchen, bedroom and a bathroom.

Accommodation

Five units, each comprising a lounge/kitchen, bedroom and bathroom.

Location

The block is set in the centre of Spalding. Spalding offers a variety of shops and recreational facilities together with a rail link into Peterborough and service into London Kings Cross.

Tenure / Property Information

Tenure	Freehold
Occupancy	Fully let; all five units are currently let
EPC	Current Rating C
Council Tax	Band A
Services	Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Investment Analysis

No completed-sale comparables or formal valuation evidence were supplied, so GDV and market value cannot be established. The auction guide is £250,000–£275,000 plus at least £2,700 of stated buyer and admin charges, with further possible legal-pack disbursements. The stated £34,920 annual rent implies a gross yield of approximately 12.70%–13.97% across the guide range, before operating costs, finance, tax and additional fees.

Investment Snapshot

Guide Price	£250,000 - £275,000 (plus fees)
Estimated Monthly Rent	£2,910 pcm
Estimated Annual Rent	£34,920 pa
Gross Yield on Guide	13.3%

Strategy Recommendation

Prioritise a buy-and-hold BTL strategy, subject to verifying the £34,920 rent, tenancy documentation, operating costs, title and all legal-pack disbursements. Do not rely on a BRRR or flip case without valuation and cost evidence.

Works Required

No refurbishment works are evidenced. The property is fully let and has current EPC rating C; works should therefore be limited to any matters identified through legal, inspection or tenancy due diligence, which were not supplied.

Rental & Market Context

HB Estimated Market Rent

£2,910 pcm

No sufficiently specific external rental comparable identified.

Potential BRRR Position

A BRRR assessment cannot be completed because no GDV, refurbishment budget, valuation evidence or refinance terms were supplied. The existing rental income and EPC C rating support an income-holding case, but there is insufficient evidence to quantify refinance proceeds or cash left in.

Buy-to-Let Analysis

The stated passing rental income is £34,920 per annum, equivalent to £2,910 pcm. Against the £250,000–£275,000 guide range, the gross yield is approximately 12.70%–13.97%; at the guide midpoint of £262,500 it is approximately 13.30%. This is attractive on a gross basis, but net yield cannot be established because operating costs, financing, insurance, maintenance, management costs and tenancy details were not supplied. The stated buyer premium and admin charge total £2,700, excluding possible further disbursements.

Flip Analysis

A flip assessment cannot be completed because no completed-sale comparables, GDV, refurbishment budget or supported selling allowance were supplied. The property is fully let, so vacant-possession, tenancy and resale considerations would also require legal-pack review.

Investor Risks & Due Diligence

• The £34,920 annual rental income and all five tenancies require documentary verification.

• No operating costs, management costs, maintenance costs, insurance costs or financing assumptions were supplied, so net yield is unknown.

• Further legal-pack disbursements, search fees, seller-cost reimbursements, legal fees or transfer fees may be payable.

• No completed-sale comparables or formal valuation evidence were supplied.

• No detailed condition, repair or building-services information was supplied beyond EPC rating C.

Recommendation

Prioritise a buy-and-hold BTL strategy, subject to verifying the £34,920 rent, tenancy documentation, operating costs, title and all legal-pack disbursements. Do not rely on a BRRR or flip case without valuation and cost evidence.

Strategy Rating

HB Rating

★★★★☆

Analysis Confidence

Confidence

Medium

The guide, tenure, occupancy, unit configuration, EPC rating and stated rental income are supplied, but there are no sold comparables, external rental comparables, GDV, condition survey, operating costs, tenancy details or complete fee schedule.