116 and 118 Valley Road, Pudsey, West Yorkshire LS28 9EU

Description

A detached freehold dwelling on a substantial plot in Pudsey, Leeds. The property was purpose built and configured as 2 x 2 bedroom flats, and the current owner has successfully let the units for the past 20+ years. The property is vacant and could be run as it was originally intended, to generate a high yield. However, with property prices in Pudsey being strong, conversion into a family home, or development of the plot itself, could prove to be a more profitable venture. The flats themselves are good size, clean and tidy, and have separate utilities and entrances. Externally, there is a long front garden and driveway leading to a double garage at the rear and a large parking area.

Accommodation

Ground Floor: 116 - Lounge, Kitchen, Hall, Two Bedrooms and Bathroom. 118 - Entrance Hall. First Floor: 118 - Landing, Lounge, Kitchen, Hall, Two Bedrooms and Bathroom.

Location

Pudsey is approximately 5 miles west of Leeds city centre, has a range of well regarded schools, the new 6th form college and a busy town centre.

Tenure / Property Information

Investment Analysis

The property is a freehold detached dwelling in Pudsey, configured as two self-contained 2-bedroom flats with separate entrances and utilities. The supplied Land Registry evidence comprises only two very old sales on Valley Road (£58,000 in 2000 and £107,000 in 1997), so it cannot support a current market value, GDV or direct comparison with the £195,000+ guide. No sufficiently specific rental evidence, EPC, council tax or condition-cost evidence is supplied. The substantial plot, double garage and parking are described, but no supported development value can be quantified.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain current local comparables, rent appraisals for both units, a measured survey, planning advice and a building/condition assessment before choosing between retaining the flats, conversion to a family home or plot development.

Works Required

No specific remedial works are evidenced; the flats are described as good size, clean and tidy. Before proceeding, establish whether to retain the two-flat configuration or pursue a family-home/development option, with any required planning, building-regulation and condition works assessed professionally.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be quantified because there is no supported current GDV, rental figure, refurbishment budget or lending valuation. The separate utilities and entrances may support continued two-unit operation, but the evidence does not establish refinance value, planning status or lender acceptability.

Buy-to-Let Analysis

The property has historically been operated as two lettable units and is currently vacant, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Consequently, rent, gross yield, operating viability and a supported maximum bid cannot be established. The 2.4% buyer premium, subject to a £2,400 minimum, is payable in addition to the purchase price; further special-condition fees may apply.

Flip Analysis

A flip or development appraisal cannot be quantified. The description identifies a substantial plot and suggests a family-home conversion or plot development may be more profitable, but no planning information, current comparable sales, development costs or supported resale value are supplied. The historic Valley Road sales are insufficient for a current GDV.

Investor Risks & Due Diligence

• No sufficiently specific current rental evidence or passing rent is supplied.

• The two supplied sold comparables are from 1997 and 2000 and do not support a current valuation.

• Potential family-home conversion or plot development is not supported by planning evidence.

• No refurbishment or development-cost evidence is supplied.

• The 2.4% buyer premium applies, subject to a £2,400 minimum, and additional special-condition fees may apply.

• The property is vacant, so no current tenancy income is available.

Recommendation

Do not bid on the supplied evidence alone. Obtain current local comparables, rent appraisals for both units, a measured survey, planning advice and a building/condition assessment before choosing between retaining the flats, conversion to a family home or plot development.

Strategy Rating

Analysis Confidence

Current valuation, rental, condition, planning, EPC, council tax, heating and development-cost evidence is largely absent; the available sold comparables are historic and the property is vacant.