1 Ridley Street, Leicester

Description

A traditional two bedroom end terraced house in a highly popular and convenient location. Well presented throughout and benefitting from gas central heating and double glazing. Loft room with Velux windows and cellar. Courtyard garden to rear. Offered freehold and with vacant possession. An ideal buy to let investment with estimated rental value of £1000 pcm.

Accommodation

Lounge - 3.52 x 3.49 (11'6" x 11'5"): Front door, coving, built in cupboard, brick fireplace, radiator, double glazed windows to front aspect. Dining Room - 3.64 x 3.50 (11'11" x 11'5"): Brick chimney breast, coving, radiator, double glazed window to rear, door leading down into cellar. Kitchen - 2.71 x 1.80 (8'10" x 5'10"): Fitted units with worktops and tiled splashbacks, circular sink with drainer, electric cooker, space for fridge freezer, plumbing for washing machine, tiled floor, radiator, double glazed window to side aspect and door to side elevation. Landing: With radiator. Bedroom One - 4.46 x 3.49 (14'7" x 11'5"): Cast iron fireplace, coving, two built in cupboards, floor boards, radiator, double glazed windows to front aspect. Bedroom Two - 3.66 x 3.51 (12'0" x 11'6"): Cast iron fireplace, floor boards, radiator, double glazed window to rear aspect, staircase leading into loft. Bathroom - 2.78 x 2.63 (9'1" x 8'7"): Bath, shower with mains shower, butler sink, low level W.C, built in cupboard housing 'Worcester' boiler, vaulted ceiling, velux window to ceiling, floor boards, part frosted double glazed window to rear aspect. Outside: Courtyard garden with paved seating area, water tap, gate to side aspect.

Location

Well placed for a great range of amenities along Hinckley Road, Narborough Road and Braunstone Gate. The location also gives easy access to the City Centre, Royal Infirmary Hospital and DeMontfort University.

Tenure / Property Information

Investment Analysis

The supplied completed sales on Ridley Street range from £139,500 to £179,000. The evidence does not provide bedroom counts or condition details for the comparables, so the subject's GDV cannot be established precisely. A cautious base GDV of £160,000 is used, with a low scenario of £139,500 and a high scenario of £179,000 based on the supplied sales range.

Investment Snapshot

Strategy Recommendation

Consider as a buy-to-let or light-touch BRRR candidate at a disciplined price, subject to confirming achievable rent, legal title, special conditions and inspection. Do not assume refurbishment profit without further evidence.

Works Required

The property is described as well presented, with gas central heating, double glazing, fitted kitchen and bathroom. No specific refurbishment defects or priced works are evidenced. Allow for inspection, safety checks and ordinary letting preparation only if required; no cost allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £160,000 base GDV, 75% refinancing equates to an indicative £120,000. Against the £133,096 purchase price plus buyer premium, approximately £13,096 would remain invested before finance, tax and any works. This is indicative only because the GDV is based on non-identical comparable evidence and no refurbishment budget or mortgage terms are supplied.

Buy-to-Let Analysis

At the £127,000 guide, the auctioneer's £1,000 pcm rent estimate implies £12,000 annual gross rent. Including the 4.8% buyer premium of £6,096, the indicative gross yield is approximately 9.02% on the £133,096 purchase-and-known-cost total. The rent is an auctioneer estimate rather than achieved rent, and no external rental comparables were identified; operating costs, finance and tax are excluded.

Flip Analysis

A base GDV of £160,000 provides an indicative £26,904 difference over the £127,000 purchase price and £6,096 buyer premium, before selling costs, finance, tax and any works. No supported selling allowance or refurbishment cost is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• The £1,000 pcm figure is an auctioneer estimate, not a passing or achieved rent, and no sufficiently specific external rental comparable was identified.

• The completed sales do not include bedroom counts or condition details, limiting GDV precision.

• Additional fees may be included in the Special Conditions of Sale but are not supplied.

• No EPC, council tax, parking or detailed legal information is supplied.

• Buyer premium is subject to a minimum, and finance, tax, maintenance, voids and management costs are excluded from the gross yield.

• No specific defects or refurbishment costs are evidenced, so inspection may identify costs not included in this analysis.

Recommendation

Consider as a buy-to-let or light-touch BRRR candidate at a disciplined price, subject to confirming achievable rent, legal title, special conditions and inspection. Do not assume refurbishment profit without further evidence.

Strategy Rating

Analysis Confidence

The property description, auction terms, local completed sales and auctioneer rent estimate are supplied, but the comparable properties lack bedroom and condition details, no EPC or council tax data is provided, and rent is not externally supported.