13 Market Place, Heanor, Derbyshire DE75 7AA

Description

AREA - 1,054 SQ FT. Comprises first floor flat and second floor office premises. Property benefits from gas central heating. Nearby occupiers include Boots Pharmacy, Costcutter, Londis and Papa Johns Pizza, amongst others.

Accommodation

Residential Flat: 2 Rooms, Kitchen, Bathroom/WC, 84 sq m (904 sq ft). Office Premises: 1 Room, WC, 14 sq m (150 sq ft).

Location

Heanor is a busy market town situated approximately 10 miles north-west of Nottingham and 9 miles north-east of Derby. Junctions 26/27 of the M1 are some 4 miles to the south-east and northeast respectively.

Tenure / Property Information

Investment Analysis

The evidence provides a limited local value indication only. The strongest comparable is 13 Market Place itself, recorded at £126,000 on 14 December 2021 as a freehold flat/maisonette. Other nearby Market Place sales range from £138,000 to £488,250, but are described only as “Other” or detached and are not sufficiently comparable to this mixed-use flat and office. The current tenure, condition, lease structure and any separation or planning details are not supplied, so a supported GDV cannot be established.

Investment Snapshot

Strategy Recommendation

Do not bid on an investment or flip basis until the legal pack, tenure, mixed-use permissions, condition, rent potential and full costs are verified. Treat the £40,000+ guide as an entry point only, not as evidence of profit or value.

Works Required

No specific works are supported by the evidence. The property is stated to have gas central heating, but no condition, compliance, EPC or repair information is provided. Review the legal pack and inspect the flat, office, services and common parts before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported because there is no reliable GDV, rent, refurbishment budget, tenure information or refinance evidence. The 75% refinance calculation should not be undertaken until the mixed-use configuration, legal title and market value are verified.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent, gross yield and BTL affordability cannot be established. The property includes a residential flat and office premises, so letting strategy and any applicable commercial or mixed-use requirements should be confirmed from the legal and planning documentation.

Flip Analysis

A flip appraisal cannot be quantified. The 2021 same-address sale at £126,000 and other local sales provide context, but do not establish the current value of the combined flat and office. No refurbishment allowance, resale costs or supported current GDV are available.

Investor Risks & Due Diligence

• Current tenure and lease terms are not supplied; the legal pack will confirm relevant ground-rent and service-charge review periods.

• The property combines a first-floor residential flat with second-floor office premises, but planning, title separation and permitted-use details are not supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Condition, EPC, council tax, parking and repair requirements are not provided.

• Buyer premium is 2.4% including VAT subject to a £3,600 minimum, and additional legal-pack fees may apply.

• The auction requires a 10% deposit subject to a £5,000 minimum, creating an immediate cash requirement.

Recommendation

Do not bid on an investment or flip basis until the legal pack, tenure, mixed-use permissions, condition, rent potential and full costs are verified. Treat the £40,000+ guide as an entry point only, not as evidence of profit or value.

Strategy Rating

Analysis Confidence

There is some completed-sale evidence, including a same-address 2021 sale, but current tenure, condition, lease details, rent, EPC, costs and a directly comparable current valuation are missing.