12 Percy Street, Middlesbrough, Cleveland

Description

A Vacant Two Bedroom Mid Terrace House. Potential for a Loft Conversion (Subject to Obtaining all Relevant Consents). The property comprises a two bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen, Utility Room, Two Bathrooms. First Floor: Two Bedrooms. Exterior: Rear yard.

Location

Situated on a residential road close to local shops and amenities and Teesside University. The open spaces of Ayresome Gardens are within easy reach. Transport links are provided by Middlesbrough rail station.

Tenure / Property Information

Investment Analysis

Completed sales on the same street range from £53,500 to £70,000. The most recent supplied sale was £60,000 in April 2026, supporting a base GDV of £60,000, with £53,500 and £70,000 used as evidence-supported low and high scenarios. No condition adjustment is possible because the evidence does not describe defects or refurbishment requirements.

Investment Snapshot

Strategy Recommendation

Potentially suitable for a cautious BTL appraisal at or near the lower guide range, subject to survey, achieved-rent validation and full auction-cost review. Do not rely on the loft potential without planning and building-control confirmation.

Works Required

No specific refurbishment works are evidenced. Obtain a survey and review the legal pack before budgeting. The stated loft-conversion potential is subject to all relevant consents and is excluded from the financial appraisal.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the £60,000 base GDV would be £45,000. The cash-left-in calculation cannot be completed because refurbishment costs, the buyer premium and other potential auction/legal charges are unknown. Refinancing terms and valuation are also unsupported.

Buy-to-Let Analysis

At the £30,000 midpoint of the guide range, the £525 pcm advertised asking rent implies a 21.0% gross yield before finance, tax, maintenance, voids, management and other costs. This is based on advertised rent rather than achieved rent, and the buyer premium and other auction charges are not quantified.

Flip Analysis

The same-street sales support a base resale value of £60,000, but flip profitability cannot be established because refurbishment costs and selling costs are not supplied. The apparent discount to comparable sales should not be treated as profit.

Investor Risks & Due Diligence

• Buyer premium amount is unspecified and additional search, seller, legal, transfer and disbursement charges may apply.

• No survey or condition evidence is supplied, so refurbishment and compliance costs cannot be estimated.

• The £525 pcm figure is an advertised asking rent, not an achieved or passing rent.

• Loft-conversion potential is subject to obtaining all relevant consents.

• Gross-yield calculations exclude finance, tax, maintenance, voids, management and other operating costs.

Recommendation

Potentially suitable for a cautious BTL appraisal at or near the lower guide range, subject to survey, achieved-rent validation and full auction-cost review. Do not rely on the loft potential without planning and building-control confirmation.

Strategy Rating

Analysis Confidence

Same-street completed sales and one advertised rental are available, but condition, refurbishment costs, buyer premium, legal/disbursement charges and achieved rent are not evidenced.