12 Melville Road, Bispham, Blackpool, Lancashire

Description

Tenanted Two Bedroom Terrace House. NO VIEWINGS AVAILABLE. The property comprises of lounge, dining room, kitchen, two bedrooms and a bathroom. Externally to the rear is a low maintenance yard. Auction House are informed that the current tenants have been living at the property for approximately nine years and pay a rent of £550 pcm. Please note internal images are from before the tenant moved in.

Accommodation

Lounge, dining room, kitchen, two bedrooms and a bathroom; externally to the rear is a low maintenance yard.

Location

Bispham, Blackpool, Lancashire

Tenure / Property Information

Investment Analysis

Five same-road completed sales range from £92,500 to £132,000. A cautious base GDV of £110,000 is used, with low and high scenarios based on the observed comparable range. Comparability, condition and accommodation differences are unknown.

Investment Snapshot

Strategy Recommendation

Investigate as a yield-led BTL purchase, subject to legal-pack review, tenant/rent verification and a satisfactory inspection. Do not bid without pricing unknown condition and additional auction costs.

Works Required

No specific works can be reliably specified because there are no viewings and the internal images pre-date the current tenancy. Allow for inspection-led works only after access is obtained.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £55,000 guide, 75% of the £110,000 base GDV indicates refinancing proceeds of £82,500 before lending criteria, valuation, costs and tax. The outcome cannot be assessed fully because refurbishment costs, buyer costs beyond the stated admin charge and the property's current condition are unknown.

Buy-to-Let Analysis

The stated passing rent is £550 pcm, producing £6,600 annual gross rent and a 12% gross yield on the £55,000 guide price before fees, finance, maintenance, voids and management. The separate £325 pcm rental listing is only advertised evidence and may not relate to this property. Tenancy terms and rent payment history require verification.

Flip Analysis

The comparable evidence supports a base GDV of £110,000, but no reliable refurbishment budget or selling-cost allowance can be established due to the lack of viewings and outdated internal images. Flip surplus is therefore unquantified.

Investor Risks & Due Diligence

• No viewings available.

• Internal images pre-date the current tenant.

• Current condition and required works are unknown.

• Tenancy terms and rent payment history are unverified.

• Special-condition disbursements and sellers' costs may be payable.

• The £325 pcm rental evidence is an advertised asking rent and may not relate to this property.

• Comparable property differences are not supplied.

Recommendation

Investigate as a yield-led BTL purchase, subject to legal-pack review, tenant/rent verification and a satisfactory inspection. Do not bid without pricing unknown condition and additional auction costs.

Strategy Rating

Analysis Confidence

Same-road completed sales and stated rent are available, but condition, tenancy documentation, rental comparability, viewing access and full purchase costs are incomplete.