14 Hartington Street, Derby DE23 8EA

Description

An excellent investment opportunity, this eight-bedroom town house built in the late 19th century boasts 2500 sq.ft of accommodation across three floors and is ideally suited to multiple occupancy opportunities or any potential owner looking to maximise internal living space at an affordable price. The property is in need of updating and modernisation throughout.

Accommodation

Ground floor: grand entrance lobby/hallway with original porcelain Minton floor throughout; large bay-fronted living room; second and third separate reception rooms; kitchen; bathroom. First floor: four double bedrooms, a fitted family bathroom and a useful utility, kitchenette or closet style space between, accessed via the large first floor landing. Uppermost floor: four further double bedrooms, a third family bathroom and separate WC, accessed via the second floor landing.

Location

Hartington Street and its terraced homes are situated in the centre of Derby and have conservation status due to their Special Architectural or Historic Interest. The street is conveniently situated for access to Derby City Centre, Rolls-Royce Sinfin and other commercial and public sites of interest.

Investment Analysis

The strongest evidence is 18 Hartington Street, a same-street terraced property sold for £362,000 on 28 June 2024. Other same-street sales range from £140,000 to £300,000 but are from 2012–2014 and are not reliable current valuation evidence. The £362,000 sale provides an indicative benchmark only; differences in condition, layout and specification are unknown. No robust low/high current valuation range can be established.

Investment Snapshot

Strategy Recommendation

Treat as a high-information-gap refurbishment opportunity. Obtain a full survey, detailed refurbishment quotation, tenure and special-conditions review, and evidence for any multiple-occupancy strategy before bidding.

Works Required

Updating and modernisation throughout, as stated in the description. The evidence does not define the required works, statutory compliance, services condition or refurbishment specification, so a cost allowance cannot be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A benchmark GDV of £362,000 implies 75% of GDV of £271,500, but refurbishment cost, finance costs, purchase price and total project costs are unknown. A refinance or cash-left-in assessment cannot therefore be underwritten.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is provided. Rental income and gross yield therefore cannot be established. The description suggests multiple-occupancy potential, but no evidence confirms current suitability, permissions, compliance or occupancy.

Flip Analysis

The recent same-street sale provides an indicative resale benchmark of £362,000. However, the required modernisation scope and cost, selling costs, finance costs and taxes are not supplied, so a flip surplus and viable maximum purchase price cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not evidenced beyond a general need for updating and modernisation.

• No sufficiently specific rental evidence is available, preventing yield or income underwriting.

• Tenure, occupancy and lease information are not provided.

• Conservation status may affect alterations, but the applicable restrictions are not supplied.

• Suitability and any required approvals for multiple occupancy are not evidenced.

• The 4.8% buyer premium applies subject to a £6,000 minimum, with additional special-condition fees potentially payable.

Recommendation

Treat as a high-information-gap refurbishment opportunity. Obtain a full survey, detailed refurbishment quotation, tenure and special-conditions review, and evidence for any multiple-occupancy strategy before bidding.

Strategy Rating

Analysis Confidence

There is one recent same-street completed sale and several older same-street sales, but no tenure, condition-cost, rental, EPC, occupancy or detailed fee evidence. The recent comparable may not match the subject property's specification or condition.