105 Waterloo Walk, Washington, Tyne And Wear, NE37 3EN

Description

Available at auction is this one bedroom upper flat, in a popular residential area close to local schools and amenities. The property requires refurbishment but offers strong potential for enhancement and would make an ideal investment or buy-to-let opportunity once completed. The property also benefits from lift access, communal lawned gardens and ample communal parking to the side. An excellent opportunity for an investor or first-time buyer looking for a well-located property with two balconies and parking.

Accommodation

Good sized living room with access to a balcony, separate kitchen, bathroom and double bedroom with a second balcony overlooking the rear.

Location

Popular residential area close to local schools and amenities.

Tenure / Property Information

Investment Analysis

Completed sales on Waterloo Walk range from £15,000 to £37,000: £20,000, £23,000 and £37,000 are the most relevant recent evidence, although the range is wide. A cautious evidence-based scenario is £20,000 low, £23,000 base and £37,000 high. The subject requires refurbishment, but its precise condition and legal/lease terms are unavailable, so the upper comparable may not be directly applicable.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming tenure and lease obligations, inspecting the refurbishment requirement and obtaining a works quotation. At the guide midpoint the headline rent and refinance figures appear attractive, but the missing works and lease-cost information makes a firm investment bid unjustified.

Works Required

Refurbishment is required, but no specific defects, scope or contractor costs are supplied. Obtain a full inspection and legal-pack review before pricing works. The stated accommodation includes a living room, kitchen, bathroom, bedroom and two balconies.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the guide midpoint of £15,000 solely for illustration, plus the known £3,600 buyer administration charge, the identifiable base cost is £18,600 before refurbishment and other possible auction charges. A 75% refinance of the £23,000 base GDV would be £17,250, leaving an indicative £1,350 unrecovered before finance, tax and unknown works. The result is highly sensitive to the missing refurbishment and legal/lease costs.

Buy-to-Let Analysis

The supplied rental evidence is an advertised asking rent of £600 pcm, not an achieved rent. At the £15,000 midpoint of the £10,000–£20,000 guide range, this equates to 48.0% gross yield before refurbishment, finance, insurance, maintenance, voids, communal charges and other costs. A reliable net return and maximum bid cannot be established because refurbishment costs, tenure terms and ongoing charges are unknown.

Flip Analysis

The £23,000 base GDV is supported by local completed sales, with an evidence range of £20,000–£37,000. However, refurbishment costs are unavailable and no selling-cost allowance is supplied, so a reliable flip surplus or maximum purchase price cannot be calculated. At the illustrative £15,000 guide midpoint, the known purchase plus administration cost is £18,600 before works and other charges.

Investor Risks & Due Diligence

• The property is stated to require refurbishment, but no condition survey, scope or cost estimate is supplied.

• Tenure and lease details are stated to be in the legal pack and have not been provided.

• The £600 pcm figure is an advertised asking rent rather than achieved or passing rent.

• The £3,600 administration charge is known, while additional search, seller-cost, legal and transfer charges may also apply.

• Comparable completed prices vary substantially from £15,000 to £37,000, creating material GDV uncertainty.

• Ongoing costs associated with the communal building, lift, gardens or lease are not supplied.

Recommendation

Proceed only after reviewing the legal pack, confirming tenure and lease obligations, inspecting the refurbishment requirement and obtaining a works quotation. At the guide midpoint the headline rent and refinance figures appear attractive, but the missing works and lease-cost information makes a firm investment bid unjustified.

Strategy Rating

Analysis Confidence

There is useful local completed-sale evidence and one advertised rental listing, but the legal tenure, lease details, condition, refurbishment budget, communal charges and other auction costs are unavailable.