103 Bold Street, Fleetwood, Lancashire FY7 6HL

Description

Substantial three storey plus basement property converted to create 6-7 flats. Requires refurbishment throughout. Once refurbished and fully let, it has the potential to produce an income in the region of £32,400 per annum.

Accommodation

Ground Floor: Entrance Hall; front bedroom (flat 3); rear bedroom (flat 4); communal kitchen; communal shower room. First Floor: front bedroom with kitchenette and en-suite (flat 5); rear bedroom with kitchenette and en-suite (flat 6). Second Floor: two-bed flat (flat 7) comprising two bedrooms, shower room with W.C. and kitchen. Basement, accessed from front: two-bed flat (flats 1 and 2) comprising entrance, front bedroom with en-suite, rear bedroom, W.C. and kitchen. Externally there is a forecourt garden to the front and yard to rear.

Tenure / Property Information

Investment Analysis

No completed-sale comparables, GDV, refurbishment budget or formal valuation are supplied. The £32,400 annual rent is an auctioneer estimate conditional on refurbishment and full letting, not a passing rent. The £125,000 guide implies a 25.92% gross yield against that estimate before fees, works, voids, management, finance and taxation, but this should not be treated as a reliable valuation.

Investment Snapshot

Strategy Recommendation

Treat as a conditional income-led refurbishment opportunity only. Obtain the legal pack, inspect the building, confirm the flat configuration and tenancy, and obtain a detailed works budget and valuation before bidding. Do not rely on the headline rent estimate alone.

Works Required

Refurbishment throughout the three-storey-plus-basement building, including the existing flats, communal areas and shared facilities described. Works should be scoped and priced from inspection and the legal pack before bidding. The stated EPC C, gas central heating and double glazing are noted, but no specific defects or upgrade requirements are evidenced.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be underwritten from the supplied evidence. Refinance at 75% of GDV cannot be calculated because no supported GDV or completed-sale comparables are provided. The building requires refurbishment throughout, and the unknown works budget, buyer premium and legal/disbursement costs create substantial capital and valuation uncertainty.

Buy-to-Let Analysis

The auctioneer estimates £32,400 per annum once refurbished and fully let, equivalent to £2,700 per month. Against the £125,000 guide this is a headline gross yield of 25.92%. The estimate is conditional and cannot be verified from the supplied evidence; the basement tenant is only believed to pay £115 per week. A reliable net yield and total-cost yield cannot be established because refurbishment costs, buyer premium and other disbursements are unknown.

Flip Analysis

A flip appraisal cannot be completed because no GDV, sold comparables, refurbishment budget or supported selling allowance is supplied. The property is described as requiring refurbishment throughout, so resale surplus and maximum bid cannot be calculated reliably.

Investor Risks & Due Diligence

• Refurbishment is stated to be required throughout, but no costed schedule of works is supplied.

• The auctioneer's £32,400 annual rent is an estimate conditional on refurbishment and full letting, not a passing rent.

• The building is described as converted into 6-7 flats, creating configuration and compliance uncertainty that must be checked in the legal pack.

• The basement is occupied, but the tenant's rent is only believed to be £115 per week and tenancy details are not supplied.

• Buyer premium, disbursements, search fees, seller-cost reimbursement, legal fees and transfer fees may be payable but are not quantified.

• No sold comparables, GDV or supported resale value is provided.

• Leasehold title and the stated 999-year term from 1 January 1900 require legal review, including lease terms and management obligations.

Recommendation

Treat as a conditional income-led refurbishment opportunity only. Obtain the legal pack, inspect the building, confirm the flat configuration and tenancy, and obtain a detailed works budget and valuation before bidding. Do not rely on the headline rent estimate alone.

Strategy Rating

Analysis Confidence

The guide price, tenure, accommodation, occupancy indication and auctioneer rent estimate are supplied, but there are no sold comparables, GDV, refurbishment costs, confirmed rents, buyer premium amount or complete fee schedule.