14 Christian Road, Preston, Lancashire, PR1 8NB

Description

A Six Bedroom Fully Licensed HMO Offered with Vacant Possession. Potential for a Loft Conversion (Subject to Obtaining all Relevant Consents). The property comprises a six bedroom mid terrace house arranged over lower ground, ground and two upper floors.

Accommodation

Lower Ground Floor: Storage Space. Ground Floor: Reception Room, Kitchen, Bedroom. First Floor: Three Bedrooms, Three Bathrooms. Second Floor: Two Bedrooms. Exterior: Rear yard.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Avenham Park are within easy reach. Transport links are provided by Preston rail station which is just a short walk away.

Tenure / Property Information

Investment Analysis

The guide is £180,000 plus fees. Relevant completed sales on Christian Road range from £140,000 in April 2024 to £180,000 in October 2019, with other sales at £156,000 and £85,000. The subject property's six-bedroom licensed HMO configuration is not directly reflected in sufficiently comparable evidence. An indicative GDV range of £140,000–£180,000 is supportable from the supplied sales, with £160,000 used as a cautious base estimate. This is not a formal valuation and current condition, HMO compliance and exact accommodation quality are not evidenced.

Investment Snapshot

Strategy Recommendation

Potential income-led HMO acquisition only if the £35,000 rent estimate, licence, compliance and condition are independently verified. Do not rely on a loft conversion or bid at the guide without establishing the full cost position and achievable GDV.

Works Required

No specific defects or required works are evidenced. Verify condition, fire and HMO compliance, licensing, services and the legal position before bidding. Any loft conversion remains subject to obtaining all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £160,000 base GDV, 75% refinance would be approximately £120,000. A reliable cash-left-in or equity calculation cannot be made because refurbishment costs, buyer premium and other special-condition costs are not supplied. The strategy depends on validating the HMO income, compliance and refinance valuation.

Buy-to-Let Analysis

The auctioneer estimates rent at £35,000 per annum, equivalent to approximately £2,916.67 pcm. Against the £180,000 guide, this indicates a gross yield of approximately 19.44%. No sufficiently specific external rental comparable was identified, so the rent estimate requires independent validation and should not be treated as achieved or passing rent. Total-cost yield cannot be established because refurbishment and additional auction costs are unknown.

Flip Analysis

A flip surplus cannot be calculated reliably because refurbishment costs and a supported selling-cost allowance are unavailable. The supplied comparable evidence is limited and ranges materially, while the guide is above the most recent supplied Christian Road sale.

Investor Risks & Due Diligence

• The £35,000 annual rent is an auctioneer estimate rather than evidenced achieved or passing rent.

• No specific condition information or refurbishment allowance is supplied.

• Buyer premium and potential search, legal, transfer and seller-cost reimbursements are unknown.

• The HMO licence and ongoing regulatory compliance should be verified despite the property being described as fully licensed.

• The potential loft conversion is subject to obtaining all relevant consents.

• Comparable completed sales are limited and range from £85,000 to £180,000, creating GDV uncertainty.

Recommendation

Potential income-led HMO acquisition only if the £35,000 rent estimate, licence, compliance and condition are independently verified. Do not rely on a loft conversion or bid at the guide without establishing the full cost position and achievable GDV.

Strategy Rating

Analysis Confidence

There are several relevant completed sales and an auctioneer rent estimate, but no external rental evidence, condition survey, refurbishment budget, detailed HMO compliance evidence or complete auction-cost schedule.