15 High Street, Laurencekirk, Aberdeenshire

Description

We are delighted to bring to auction this superb opportunity to acquire this four-bedroom maisonette on High Street, Laurencekirk close to amenities, schools and transport links. The property requires a programme of refurbishment throughout which will allow an excellent opportunity to add value. There is a range of potential end uses including for an owner occupier, buy to let investor or serviced accommodation.

Accommodation

The accommodation is accessed from the ground floor, and main living accommodation is on the first floor comprising a front facing lounge with original cornicing, dining room with kitchen off, two spacious double bedrooms and bathroom. On the second floor there is a further bedroom with two smaller rooms.

Location

Laurencekirk is a small town in the historic county of Kincardineshire, part of Aberdeenshire and is the largest settlement in the Howe o' the Mearns area. Laurencekirk is in the valley between the Hill of Garvock and the Cairn O’ Mount. The famous landmark of the Johnston Tower can be seen on the peak of the Garvock. Laurencekirk Primary school was built in 1999 and Mearns Academy, the senior school, opened a new building in August 2014. The Community Centre, Library, Fitness Suite and Police Station are housed within the Mearns Campus. There are two public parks, both with children's play areas, and in addition the memorial park houses a bowling green and a skate-board facility. The town offers a range of traditional retailing shops and two supermarkets. Laurencekirk is in easy reach of the A90 Aberdeen/Dundee dual carriageway with three points of entry. Aberdeen and Dundee are both approximately 40 minutes’ drive, and Montrose around 20 minutes. A train station located in the town with regular trains towards Aberdeen and Dundee, taking roughly 30 minutes to each location makes this town an ideal base for commuters. There are also buses taking you to the Angus and Aberdeenshire towns nearby. Surrounded by some spectacular countryside leading to the Cairngorms and The Glens there are plenty of lovely walks nearby.

Tenure / Property Information

Investment Analysis

No completed sales or formal valuation evidence is supplied, so GDV and market value cannot be reliably estimated. The £59,000 guide is subject to refurbishment and auction costs.

Investment Snapshot

Strategy Recommendation

Proceed only after surveying the refurbishment requirement, checking the legal pack and validating achievable rent. Do not set a bid or resale strategy from the current evidence alone.

Works Required

A programme of refurbishment throughout is required. The exact works, specification and costs need confirmation by survey and legal-pack review.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable because refurbishment costs, GDV and refinance value are unavailable. The minimum buyer/admin charge is £3,600, before any other stated disbursements.

Buy-to-Let Analysis

The auctioneer estimates £14,958 annual rent based on LHA, equivalent to £1,246.50 pcm. This indicates approximately 25.4% gross yield against the £59,000 guide before refurbishment, fees and operating costs. No achieved rental comparables are supplied.

Flip Analysis

A flip surplus cannot be calculated because no completed sales, GDV, refurbishment budget or supported selling allowance is supplied.

Investor Risks & Due Diligence

• Refurbishment is described as throughout, but its scope and cost are unspecified.

• No completed sales evidence or formal GDV is supplied.

• The £14,958 rent is an auctioneer estimate based on LHA, not achieved rent.

• Serviced-accommodation income cannot be annualised without occupancy assumptions.

• A minimum £3,600 buyer/admin charge applies, with possible additional legal, search and transfer costs.

• Heating, parking and occupancy details are not supplied.

Recommendation

Proceed only after surveying the refurbishment requirement, checking the legal pack and validating achievable rent. Do not set a bid or resale strategy from the current evidence alone.

Strategy Rating

Analysis Confidence

The listing provides accommodation and guide price information, but no comparable sales, refurbishment budget, GDV, rental comparables or detailed costs.