108 Upgate, Louth, Upgate

Description

Conveniently situated close to the town centre and within Louth's Conservation Area, this detached house offers a fantastic opportunity for buyers seeking a property with character and potential. The accommodation includes two generously sized reception rooms and well proportioned bedrooms, providing ample living space for a variety of needs. Externally, the property benefits from a low maintenance rear yard, ideal for those looking for easy upkeep. With scope for improvement throughout, this home presents an excellent chance to personalise and add value.

Accommodation

Entrance hall; lounge with gas fire, built-in alcove cupboard and shelving, sash window and laminate flooring; dining room with sash window, gas fire, laminate flooring and gas meter cupboard; rear entrance lobby with plumbing for washing machine, wall cupboard and part-glazed rear access door; kitchen with fitted wall and base cupboards, worktop, stainless steel sink and drainer, extractor fan and two side windows; first-floor landing; Bedroom One with two sash windows to front elevation and laminate flooring; Bedroom Two with sash window, roof-space access and laminate flooring; bathroom with tiled shower cubicle, close-coupled toilet, wash basin, sash window and gas-fired hot water boiler; small concrete rear yard with brick wall enclosure.

Location

Louth is an attractive market town with a population of approximately 17,000 and enjoys a thrice weekly open market, independent shops and national retailers, three supermarkets, leisure centre, two golf courses, cinema and theatre. The town is positioned on the edge of the Lincolnshire Wolds, a designated area of natural beauty, and is situated some 25 miles north-east of the city of Lincoln and some 16 miles south of the town of Grimsby.

Tenure / Property Information

Investment Analysis

The only supplied comparable is 110 Upgate, a detached freehold property sold for £50,000 on 7 September 2001. This historic transaction is not sufficient evidence of current market value, and no current comparable, valuation or rental evidence is supplied. The £65,000+ guide is an auction guide, not a market valuation.

Investment Snapshot

Strategy Recommendation

Treat as an evidence-deficient refurbishment opportunity only. Do not bid above a separately verified maximum based on current comparable sales, a full inspection, a detailed works schedule and all auction costs.

Works Required

Improvement and personalisation works are indicated throughout, but the evidence does not identify specific defects or provide a costed schedule. Confirm the condition of the kitchen, bathroom, heating, windows, roof-space, services, flooring and finishes before bidding. Any proposed external or structural changes may require additional checks because the property is in a Conservation Area.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably underwritten. No current GDV, refurbishment budget, rent, EPC, tenure, occupancy or finance costs are supplied. The 75% refinance amount, cash left in and equity position cannot therefore be calculated. Confirm condition, legal title, Special Conditions and achievable post-works value before considering the strategy.

Buy-to-Let Analysis

BTL feasibility cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating return and debt-service assessment are therefore unavailable. The buyer premium would be £6,000 at the £65,000 guide because the 4.8% fee is subject to a £6,000 minimum, with possible additional Special Conditions fees.

Flip Analysis

A flip appraisal cannot be completed from the evidence. The only sale comparable is historic, dated 2001, and no current GDV, refurbishment cost or selling allowance is supplied. The property is described as having scope for improvement, but this is not a quantified project budget.

Investor Risks & Due Diligence

• Current market value cannot be established from the single 2001 comparable.

• The description indicates scope for improvement, but no detailed condition survey or refurbishment budget is supplied.

• No sufficiently specific rental evidence is available, preventing yield assessment.

• The property is within Louth's Conservation Area, which may affect proposed external or structural works.

• Tenure, occupancy, EPC, council tax and parking information are not supplied.

• The buyer premium is subject to a £6,000 minimum at the guide, and additional Special Conditions fees may apply.

Recommendation

Treat as an evidence-deficient refurbishment opportunity only. Do not bid above a separately verified maximum based on current comparable sales, a full inspection, a detailed works schedule and all auction costs.

Strategy Rating

Analysis Confidence

Only one historic comparable and the auction guide are supplied. Current value, rent, condition costs, tenure, occupancy, EPC, council tax, parking and additional legal costs are unavailable.