1 Levisham Close, Hull, East Riding of Yorkshire

Description

A one bedroom ground floor apartment benefiting from double glazing and electric heating. The property comprises communal lobby, entrance hall, living room, kitchen, bedroom and bathroom. The property is conveniently located close to the University of Hull and following general modernisation and refurbishment would be ideal for an owner-occupier or investor.

Accommodation

Ground Floor: Entrance Hall, Kitchen, Living Room, Bedroom, Bathroom.

Location

Conveniently located close to the University of Hull.

Tenure / Property Information

Investment Analysis

No completed sales comparables, formal valuation or supported GDV evidence has been supplied. The £45,000+ guide is an auction guide only and should not be treated as market value. The property is described as requiring general modernisation and refurbishment, but no scope or cost evidence is provided.

Investment Snapshot

Strategy Recommendation

Treat as an owner-occupier-led opportunity only after inspection, lease review and confirmation of total costs. Do not underwrite as a BTL, BRRR or flip without independent valuation, works pricing and rent evidence.

Works Required

General modernisation and refurbishment as described by the auction evidence. Specific works, condition items and costs are not supplied and require inspection and review of the legal pack.

Rental & Market Context

Potential BRRR Position

BRRR analysis is not supportable without a GDV, refurbishment budget, rent evidence and total project cost. The new 990-year lease with peppercorn ground rent is potentially helpful, but lease terms and service-charge review provisions remain subject to the legal pack.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. Gross yield, operating costs and investment return therefore remain unsupported.

Flip Analysis

A flip surplus cannot be calculated because there are no completed sales comparables, supported GDV, refurbishment costs or selling allowance. The description indicates general modernisation and refurbishment would be required.

Investor Risks & Due Diligence

• General modernisation and refurbishment are indicated, but the required scope and cost are unknown.

• No sufficiently specific rental evidence or passing rent is provided.

• The new lease, including any service-charge review periods, must be checked in the legal pack.

• The 1.2% buyer premium is subject to a minimum of £1,860 including VAT, and additional special-condition fees may apply.

• The £45,000+ figure is only an auction guide and is not evidence of market value.

Recommendation

Treat as an owner-occupier-led opportunity only after inspection, lease review and confirmation of total costs. Do not underwrite as a BTL, BRRR or flip without independent valuation, works pricing and rent evidence.

Strategy Rating

Analysis Confidence

The evidence confirms the property type, guide, tenure, lease headline terms and broad condition description, but provides no valuation comparables, rental evidence, EPC, council tax, service charge, refurbishment budget or complete fee schedule.