12 Lilac Avenue, Newhey, Rochdale, Greater Manchester

Description

This three-bedroom mid terrace property suffered a fire in 2019. Since then, a new roof has been fitted, and internal works have started (as shown in the photos) but requires completion. The property currently offers an open plan kitchen/living/diner to the ground floor with a ground floor extension at the rear ideal for a utility area, workshop or additional reception area. To the first floor there are three bedrooms and a bathroom (which isn’t fitted). Externally there are front and rear gardens.

Accommodation

Open plan kitchen/living/diner to the ground floor; ground floor rear extension ideal for a utility area, workshop or additional reception area; three bedrooms and a bathroom on the first floor, which isn’t fitted; front and rear gardens.

Location

Newhey, Rochdale, Greater Manchester OL16 4LN

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £90,000 to £200,000, with other evidence at £136,000 and £163,000. Condition differences are not supplied, so a broad GDV range is used: £136,000–£200,000, with £163,000 as a midpoint estimate. The property has fire history and requires completion, limiting valuation confidence.

Investment Snapshot

Strategy Recommendation

Proceed only if inspection and the legal pack establish a fully costed refurbishment plan with sufficient margin; otherwise avoid bidding at the guide.

Works Required

Complete the started internal works, fit the first-floor bathroom, and assess/complete fire-related and extension-area works based on the legal pack and inspection. No reliable works cost is supplied.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the known administration charge is £4,125, excluding works and possible special-condition costs. A 75% refinance against the £163,000 base GDV would be £122,250, but cash recycling and equity cannot be calculated without a refurbishment budget and total project costs.

Buy-to-Let Analysis

The supplied advertised rental evidence is £648 pcm, equivalent to £7,776 annually. At the £150,000 guide, the gross yield is approximately 5.18% before refurbishment, finance, administration and other costs. Achieved rent is not evidenced.

Flip Analysis

A potential resale GDV range of £136,000–£200,000 is indicated by the supplied same-street sales, with £163,000 as the base estimate. Flip surplus cannot be calculated because refurbishment and selling costs are unsupported.

Investor Risks & Due Diligence

• Fire damage history and incomplete internal works.

• First-floor bathroom is not fitted.

• Comparable sale prices vary substantially from £90,000 to £200,000.

• Rental evidence is advertised asking rent rather than achieved rent.

• Special-condition fees and refurbishment costs are not supplied.

Recommendation

Proceed only if inspection and the legal pack establish a fully costed refurbishment plan with sufficient margin; otherwise avoid bidding at the guide.

Strategy Rating

Analysis Confidence

Several same-street sales and rental evidence are supplied, but condition comparability, refurbishment costs, EPC, heating, council tax and special-condition costs are unavailable.