1 Magazine Lane, Wallasey, Merseyside, CH45 1LT

Description

Substantial freehold 4-bedroom two floor end terrace bay fronted house requiring modernisation. Full vacant possession. 3D Tour available.

Accommodation

First floor: Four bedrooms, bathroom/WC. Ground floor: Three reception rooms, kitchen, entrance hallway. Outside: Rear garden. Gross Internal Area GIA: approximately 119 sq m (1,282 sq ft).

Location

The property is situated on the corner of Magazine Lane and Gordon Road between its junctions with Magazine Promenade and Seabank Road. Public transport links include New Brighton Rail Station and local bus services. Road links include the A554, Kingsway Tunnel (A59) and M53 Motorway. Shopping amenities are available locally within New Brighton, with further shops, bars and restaurants in Liverpool City Centre. Recreational pursuits include New Brighton Promenade, Vale Park and the coastal frontage of Liverpool Bay.

Tenure / Property Information

Investment Analysis

The only relatively recent comparable is 5 Magazine Lane, which sold for £203,000 in November 2020. It is a different property and the sale is dated, while the other supplied transactions are materially older. Consequently, a current GDV cannot be reliably established from the evidence. The £150,000 guide plus the known £1,800 buyer administration charge totals £151,800 before refurbishment, other acquisition costs and any seller charges.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Obtain a full survey, confirm parking and heating, establish the modernisation scope, obtain contractor costs and secure current local resale and rental evidence before considering BTL, BRRR or a flip.

Works Required

Modernisation is required, but the supplied evidence does not identify specific defects or provide a scope of works. A full inspection, review of the 3D tour and contractor quotations are required before budgeting.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported because current GDV, refurbishment cost, rent and refinance assumptions are unavailable. The known guide price plus administration charge is £151,800 before works and other costs, but this is insufficient to assess refinance or equity release.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property is vacant, and refurbishment requirements and total project costs are unknown.

Flip Analysis

A flip appraisal cannot be reliably calculated. The £203,000 2020 sale of No. 5 Magazine Lane provides some local historical context, but it is not a current sale of this property and no supported refurbishment or selling-cost allowance is available.

Investor Risks & Due Diligence

• Modernisation scope and cost are unknown.

• No sufficiently specific rental evidence is available, so rental income and yield cannot be established.

• The principal comparable is a different property and its sale completed in November 2020.

• EPC is listed as TBA.

• Parking and heating details require confirmation from the auction centre.

• The seller may charge additional completion fees under the Special Conditions of Sale.

Recommendation

Do not bid on current evidence alone. Obtain a full survey, confirm parking and heating, establish the modernisation scope, obtain contractor costs and secure current local resale and rental evidence before considering BTL, BRRR or a flip.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation and guide terms, but lacks a current comparable valuation, rental evidence, refurbishment budget, EPC, parking/heating details and applicable seller charges.