11 Clevedon Road, Blackpool, Lancashire FY1 2NX

Description

Description A mid-terrace property comprising 4 no. self-contained one bedroom flats that are fully let and managed, currently producing a combined rental income of £20,000 per annum. The property is in good condition and benefits from UPVC double glazing and gas central heating.

Conveniently located just 1 mile from Blackpool town centre and approximately 0.5 miles from Blackpool North Station, the property offers a ready made investment opportunity at an attractive yield. Outside There is a small forecourt parking area and an enclosed yard to the rear.

Tenure Freehold Occupancy Subject to a tenancy

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• HB 5-mile market proxy: comparable local sale/asking evidence supports a working post-works midpoint around £158,600

• Low case set 8% below midpoint (£146,000) to reflect condition/comparable uncertainty

• High case set 8% above midpoint (£171,000) for a strong investor-standard finish

HB estimated GDV: £146,000 low / £159,000 base / £171,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental Value

Working market rent is approximately £1,667 pcm (£20,000 pa). For scenario testing, use roughly £1,533 / £1,667 / £1,800 pcm for low/base/high cases. This is an indicative market-rent estimate and should be read alongside any passing tenancy stated by the auctioneer.

Low / Base / High Investment Scenario

Buy-to-Let

Base rent £1,667 pcm gives 15.4% gross yield on guide and 14.0% on guide plus midpoint works. These are gross yields before voids, repairs, management, insurance and finance.

BRRR Analysis

Guide £130,000 + midpoint works £13,250 + auction fee allowance £2,340 + legal/valuation £1,500 + indicative six-month bridge/arrangement cost £5,915 + holding allowance £1,500 gives a pre-SDLT all-in cost of approximately £154,505. At base GDV £159,000, a 75% refinance is £119,250, leaving approximately £35,255 capital in before SDLT. Low/high refinance outcomes are £109,500 / £128,250.

Flip Analysis

Using base GDV £159,000, pre-SDLT all-in cost £154,505 and selling/legal allowance £3,058, indicative pre-tax/pre-SDLT flip surplus is £1,437. That is approximately 0.9% profit on cost and 0.9% of GDV. A 5% sale-price reduction and 15% works overrun should be stress-tested before bidding.

Maximum Bid Indicator

For an indicative 15% pre-tax profit-on-cost target before SDLT, the desktop purchase ceiling is approximately £115,115. This is a screening figure, not a formal valuation or bidding recommendation.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.