15 Alma Hill, Kimberley, Nottingham NG16 2JH

Description

A well located two bedroom ground floor flat with excellent scope to improve and add value.

Accommodation

Secure intercom entry, large lounge, kitchen, two bedrooms, storage room and bathroom.

Location

The property is well placed for a wealth of local amenities, being a short distance from Kimberley town centre and the ever-popular Giltbrook retail park. The property is also ideal for commuters within easy reach of bus routes and major road networks.

Tenure / Property Information

Investment Analysis

No completed-sale comparables, GDV evidence, rental evidence or refurbishment budget were supplied. The £85,000+ guide is an auction guide, not a market valuation. The new 990-year lease and peppercorn ground rent are positive stated terms, but service-charge and review provisions remain unconfirmed in the legal pack.

Investment Snapshot

Strategy Recommendation

Do not set a bid or proceed on an investment basis until the legal pack, lease terms, inspection findings, local completed-sale evidence and achievable rental evidence have been obtained.

Works Required

The listing states there is scope to improve and add value, but does not identify specific defects or works. Obtain the legal pack and inspection evidence before budgeting for any refurbishment.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed without a supported purchase/refurbishment cost, GDV and rent. The new long lease and peppercorn ground rent may assist long-term ownership, but service-charge terms and any lease provisions must be checked in the legal pack.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate was supplied. Gross yield, operating surplus and maximum supportable purchase price cannot therefore be calculated. The stated buyer premium would be £1,860 at the £85,000 guide because the 1.2% calculation is below the stated minimum, before any other costs.

Flip Analysis

A flip assessment cannot be completed because there are no comparable sales, supported GDV, works allowance or selling-cost allowance. The description only confirms scope to improve, not the extent or cost of works.

Investor Risks & Due Diligence

• No completed-sale comparables or supported market value evidence.

• No sufficiently specific rental evidence, so rental yield cannot be established.

• Refurbishment scope and cost are unspecified despite the stated scope to improve.

• Service-charge and any ground-rent review provisions will only be confirmed in the legal pack.

• Additional fees may be included in the Special Conditions of Sale.

• The buyer premium is subject to a minimum of £1,860 inc. VAT.

Recommendation

Do not set a bid or proceed on an investment basis until the legal pack, lease terms, inspection findings, local completed-sale evidence and achievable rental evidence have been obtained.

Strategy Rating

Analysis Confidence

Only the property description, guide, limited buyer-premium terms and headline lease information were supplied; key valuation, condition, rent, EPC, council-tax, service-charge and comparable-sale evidence is absent.