1 Derwent House, Laurel Mount, Appleby, Westmorland, CA16 6FS

Description

A two bedroom ground floor apartment in an attractive building that was once part of an original school house at Eden Grove. Internally the accommodation comprises of an entrance landing, two bedrooms with the master benefitting from having an en-suite shower room, a family bathroom, and an open plan living/dining/kitchen area. Externally the property sits in a courtyard and has an allocated parking space. The property is located within the Eden Grove Development just on the edge of Appleby-in-Westmorland in the Eden Valley.

Accommodation

Entrance landing, two bedrooms, master bedroom with en-suite shower room, family bathroom, and open plan living/dining/kitchen area. 77 sq m / 828 sq ft. Key features also state 836 sq ft.

Location

Located within the Eden Grove Development, just on the edge of Appleby-in-Westmorland in the Eden Valley.

Tenure / Property Information

Investment Analysis

Sold evidence in the same Laurel Mount/Appleby locality ranges from £129,000 to £297,000, with £194,500 and £220,000 sales providing relevant local evidence but without supplied floor areas, bedroom counts or specification. The £129,000 September 2024 sale is the most recent evidence but is identified only as a flat/maisonette. A cautious evidence-based value range is £129,000–£220,000, with £194,500 used as the base scenario. The guide is below the base comparable evidence, but condition, service charges, legal terms and buyer costs are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a cautious value-led resale or owner-occupier purchase after reviewing the legal pack, lease and service-charge information. Do not underwrite BTL without verified rent, and do not bid solely against the higher historic comparables.

Works Required

No physical defects or refurbishment requirements are evidenced. Allow for inspection and any legally or condition-supported works only after reviewing the legal pack and viewing the apartment; no works allowance can be quantified from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £120,000 guide, the purchase is below the £194,500 base value scenario, but the comparison is uncertain because the sold units' sizes, layouts and specifications are not supplied. A 75% refinance against the base scenario would be approximately £145,875, before finance costs, taxes, fees and any works. Cash requirements cannot be calculated without refurbishment, buyer-cost and finance data.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charges, letting costs, finance costs and buyer fees are also unavailable. Do not rely on a rental strategy without verified local rent and lease/service-charge information.

Flip Analysis

A potential resale margin exists against the supplied comparable evidence, but a reliable flip surplus cannot be calculated because refurbishment costs, auction buyer charges, selling costs and the exact comparable specifications are unavailable. The £129,000 recent sale demonstrates material valuation uncertainty despite the higher historic local sales.

Investor Risks & Due Diligence

• Comparable sales do not include supplied floor areas, bedroom counts or specification, so the GDV range is uncertain.

• No rental evidence is available, preventing a supported BTL yield assessment.

• Buyer premium, VAT exposure, seller charges and other auction costs are not quantified.

• Condition and refurbishment requirements are not evidenced and cannot be costed.

• Leasehold service charges, restrictions and other legal terms require review of the legal pack.

• The property is vacant, but no detailed inspection evidence is supplied.

Recommendation

Proceed only as a cautious value-led resale or owner-occupier purchase after reviewing the legal pack, lease and service-charge information. Do not underwrite BTL without verified rent, and do not bid solely against the higher historic comparables.

Strategy Rating

Analysis Confidence

There are several local completed sales and clear property particulars, but the comparables lack size/specification detail and there is no condition, rent, service-charge, buyer-fee or seller-cost evidence.