1 Heathfield Terrace, Headingley, Leeds, West Yorkshire

Description

Investment property internally arranged to provide five flats, comprising two studio flats and three one-bedroom flats. Total GIA approximately 150 sq m (1,615 sq ft). Leeds Beckett University's Headingley Campus is approximately 0.6 miles to the north west. Off-street parking. There is a range of shops and amenities to the south along Otley Road and Headingley rail station is approximately 1.2 miles to the south west.

Accommodation

Five flats: two studio flats and three one-bedroom flats. Total GIA approximately 150 sq m (1,615 sq ft), source: EPC.

Location

The property is situated on the east side of Heathfield Terrace, adjacent to Cottage Road. There is a range of shops and amenities to the south along Otley Road. Headingley station is approximately 1.2 miles to the south west. Leeds Beckett University's Headingley Campus is approximately 0.6 miles to the north west. The M621 motorway is to the south west. Meanwood Park is nearby.

Tenure / Property Information

Investment Analysis

The £230,000+ guide is the only current pricing indicator supplied. The Land Registry comparables are whole semi-detached properties on Heathfield Terrace (£699,950 and £790,000 in the latest supplied transactions), not five-flat investments, so they do not support a reliable GDV for this property. No specific condition, rental, planning or licensing evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not underwrite or bid beyond the guide on the current evidence. Obtain the legal pack, tenancy schedule and rents, planning/licensing confirmation, condition information and all buyer/seller charges before considering the property as a multi-let investment.

Works Required

No specific works are evidenced. Verify the condition of the five flats, communal areas, services, external fabric and parking before bidding; no cost allowance is supportable from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis is unsupported without a reliable GDV, rent schedule, refurbishment budget, tenancy information and known acquisition costs. The guide price alone is insufficient to assess refinance proceeds or cash left in.

Buy-to-Let Analysis

BTL underwriting cannot be completed because no passing rents, asking rents or auctioneer rent estimate are supplied. Each flat is stated to be subject to an Assured Periodic Tenancy, but occupancy, tenancy terms and rent levels are unknown. Gross yield therefore cannot be established.

Flip Analysis

A flip appraisal cannot be supported. The supplied comparables relate to whole semi-detached houses rather than the five-flat configuration, and there is no condition or works evidence. Selling costs are also not supplied.

Investor Risks & Due Diligence

• No passing or advertised rental income is supplied, preventing yield analysis.

• The five flats are subject to Assured Periodic Tenancies, but tenancy terms, rents and occupancy details are unknown.

• No condition or refurbishment information is supplied, so total project cost cannot be estimated.

• The supplied sold comparables are whole semi-detached properties and may not be comparable with the five-flat arrangement.

• Buyer, administration and other additional charges are not quantified.

• Planning, licensing and other legal details for the five-flat use are not supplied.

Recommendation

Do not underwrite or bid beyond the guide on the current evidence. Obtain the legal pack, tenancy schedule and rents, planning/licensing confirmation, condition information and all buyer/seller charges before considering the property as a multi-let investment.

Strategy Rating

Analysis Confidence

The property configuration and guide price are supplied, but there is no rental evidence, condition assessment, refurbishment budget, GDV evidence specific to a five-flat building, occupancy detail or fee schedule.