117 Hambledon Street, Blyth, Northumberland

Description

A one bedroom ground floor flat. The property benefits from a private section of rear yard, is in need of modernisation, and is vacant.

Accommodation

Ground Floor - Entrance Hallway, Reception Room, Kitchen, Bedroom, Bathroom/WC.

Location

Blyth is a town in the county of Northumberland. The house is located on Hambledon Street, which can be accessed via Balfour Street and Durban Street. Amenities are available nearby on Regent Street, with Blyth town centre approximately 0.6 miles away. Recreational amenities of St. John's MUGA and Ridley Park are easily accessible. Transport: Newsham - Northern.

Tenure / Property Information

Investment Analysis

Same-street leasehold flat sales range from £35,000 to £42,000. The most recent supplied comparable, 137 Hambledon Street, sold for £35,000 on 30 March 2026. Allowing for the subject property's stated need for modernisation, a supported scenario range is £35,000–£42,000, with £39,000 used as the base GDV. The guide is materially below these completed-sale figures, but condition, exact accommodation and lease terms require legal-pack confirmation.

Investment Snapshot

Strategy Recommendation

Potentially attractive at or near the guide for a small refurbishment or rental project, but do not set a maximum bid until the legal pack, lease terms, refurbishment scope and all auction charges are reviewed. Confirm achievable rent before proceeding.

Works Required

Modernisation of the vacant one-bedroom flat, including updating the kitchen, bathroom, decoration and floor finishes where required. No detailed schedule or cost evidence is supplied, so the works allowance cannot be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £20,000 guide, the property is below the supplied £35,000–£42,000 completed-sale range. A 75% refinance against the £39,000 base GDV would be £29,250. However, total project cost and cash left in cannot be calculated because refurbishment costs and auction charges are unknown. The new 990-year lease and all legal-pack terms should be confirmed before relying on refinance value.

Buy-to-Let Analysis

The supplied advertised asking rents are £530–£595 pcm; these are not achieved or passing rents. Using the midpoint of £562.50 pcm gives annual rent of £6,750 and a gross yield of 33.75% against the £20,000 guide. Yield on total cost cannot be established because refurbishment, buyer, administration, VAT and other charges are not supplied. Actual letting demand and achievable rent require verification.

Flip Analysis

The supplied evidence indicates a base GDV of £39,000, with a £35,000–£42,000 scenario range. A flip surplus cannot be calculated because refurbishment costs, buyer charges, VAT and selling costs are not provided. The margin above the £20,000 guide may be reduced substantially by modernisation and transaction costs.

Investor Risks & Due Diligence

• The flat is stated to need modernisation, but no detailed works schedule or cost evidence is supplied.

• The £530–£595 pcm figures are advertised asking rents rather than achieved or passing rents.

• Buyer fees, administration charges, VAT and potential seller charges are not quantified.

• The new 990-year lease and its ground rent, service charge, restrictions and other terms require legal-pack review.

• The comparable properties may differ in condition, size, specification and lease terms; these details are not supplied.

• The property is vacant, so there is no established rental income.

Recommendation

Potentially attractive at or near the guide for a small refurbishment or rental project, but do not set a maximum bid until the legal pack, lease terms, refurbishment scope and all auction charges are reviewed. Confirm achievable rent before proceeding.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and two rental asking examples, but no detailed condition survey, refurbishment cost, auction fee schedule, council tax, service charge, ground rent, lease restrictions or confirmed achieved rent.