11, Ash Wood Court, Chorley, Lancashire, PR7 2JZ

Description

Leasehold second floor flat.

Accommodation

Two bedrooms, reception room open plan to kitchen, bathroom/WC.

Location

The property is located on Ash Wood Court, which lies off Keepers Wood Way. Shopping amenities are available locally within Chorley Town Centre to the east, with a more comprehensive range of shops, bars and restaurants in Manchester City Centre to the south east. Public transport links are available at Chorley Train Station and via local bus services. Road links include the A581 to the north and the M61 to the east. Recreational pursuits can be found locally.

Tenure / Property Information

Investment Analysis

The supplied sold evidence is from the same development and ranges from £85,000 to £110,000. The most recent comparable, Flat 26, sold for £110,000 on 27 May 2025, while Flat 27 sold for £85,000 on 20 December 2023. A base GDV of £100,000 is a cautious midpoint estimate, subject to confirmation of size, condition, parking and exact comparability. No rental evidence or condition assessment is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after inspecting the flat and reviewing the lease and special conditions. Treat this as a potentially attractively priced purchase against local sold evidence, but do not rely on BTL or flip returns until rent, condition, leasehold charges and all completion fees are verified.

Works Required

No specific defects or required works are evidenced. Obtain an inspection and confirm the condition of the flat, kitchen, bathroom, finishes, heating and EPC-related items before budgeting. No refurbishment allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £80,000 guide, the property sits below the supplied £85,000–£110,000 comparable range, but the total project cost cannot be calculated because works, seller charges and leasehold costs are incomplete. A 75% refinance of the £100,000 base GDV indicates £75,000 gross refinancing capacity before finance and tax. BRRR viability therefore remains unproven.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The £1,800 inclusive-of-VAT contract documentation fee is known, but other seller charges, service charge and any refurbishment costs are not quantified. Rental demand and achievable rent require separate verification.

Flip Analysis

The evidence supports an indicative resale range of £85,000–£110,000 and a base GDV of £100,000. However, flip surplus cannot be calculated because refurbishment costs and all selling and acquisition costs are not fully supported. The £1,800 documentation fee and possible additional seller fees should be allowed for, but no complete profit figure is supportable.

Investor Risks & Due Diligence

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

• The condition of the flat and any refurbishment requirement are unknown.

• The lease is leasehold with a stated ground rent of £228.49 per annum; service-charge information is not supplied.

• Parking and heating arrangements require confirmation.

• The seller may charge additional completion fees under the special conditions, but the amounts are not supplied.

• Comparable sold prices vary materially from £85,000 to £110,000, creating GDV uncertainty.

• The property has an EPC rating of D.

Recommendation

Proceed only after inspecting the flat and reviewing the lease and special conditions. Treat this as a potentially attractively priced purchase against local sold evidence, but do not rely on BTL or flip returns until rent, condition, leasehold charges and all completion fees are verified.

Strategy Rating

Analysis Confidence

Same-development sold comparables and the lease terms are supplied, but there is no condition report, rental evidence, service-charge information, parking or heating confirmation, or complete schedule of buyer and seller charges.