11, Mickleross Close, DERBY, Derbyshire, DE3 9JF

Description

Detached four bed property in popular residential location. Cul-de-sac position and ready for updating. Close to amenities including bus services and walks. The property requires a scheme of refurbishment to bring up to today’s modern standards but offers front and rear gardens along with off road parking and scope to develop further subject to necessary planning and consents.

Accommodation

Ground Floor: Entrance hall, w.c., lounge/dining room, breakfast kitchen. First Floor: Landing, four bedrooms, shower room/w.c. External: Front and rear garden, off road parking.

Location

Located in a cul-de-sac position in popular Mickleover to the west of Derby, with amenities including national and local shops, school, football and golf clubs.

Tenure / Property Information

Investment Analysis

The five supplied Land Registry comparables are detached freehold houses on Mickleross Close, ranging from £310,000 in August 2022 and £312,500 in February 2021 to £350,000 in October 2018. The two most recent sales support a base GDV of £312,500, with £310,000 as a cautious low scenario. The £350,000 high scenario is based on the older comparable and should be treated cautiously because the evidence does not confirm condition, specification or market changes. The property requires updating, but no quantified refurbishment scope or inspection evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only to detailed legal, viewing and refurbishment-cost due diligence. The evidence currently supports investigating a refurbishment-led resale or owner-occupier purchase, but not setting a reliable bid or investment return target.

Works Required

Refurbishment and updating to bring the house to modern standards, based on the auction description. No specific defects, room-by-room works or development scheme are evidenced. Any further development would require appropriate planning and consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £200,000 guide, the property has a potential headline margin against the £312,500 base GDV, but refurbishment costs, finance costs, taxes, seller fees and other acquisition costs are not supplied. A 75% refinance of the base GDV equates to £234,375, but cash left in cannot be calculated without a verified total project cost.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. Rental yield, operating surplus and affordability cannot therefore be established.

Flip Analysis

The supplied comparables indicate a base resale value of £312,500, but a flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs, taxes and potentially payable seller fees are unknown. The headline guide-to-GDV difference is not a profit estimate.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unquantified.

• The property is described as requiring updating, but no inspection evidence or detailed condition schedule is supplied.

• No sufficiently specific rental evidence is available, so BTL returns cannot be assessed.

• The seller may charge additional completion fees under the Special Conditions of Sale; the amount is unknown.

• Any further development is subject to necessary planning and consents.

• The older £350,000 comparable may not be directly comparable in condition, specification or market timing.

• EPC information is incomplete and heating details require confirmation.

Recommendation

Proceed only to detailed legal, viewing and refurbishment-cost due diligence. The evidence currently supports investigating a refurbishment-led resale or owner-occupier purchase, but not setting a reliable bid or investment return target.

Strategy Rating

Analysis Confidence

There are several relevant same-road completed sales and a stated guide price, but no inspection detail, quantified works, rental evidence, EPC information, heating detail, full auction fees or confirmed planning position.