15 Woodland Walk, Kirkby-In-Ashfield, Nottingham, Nottinghamshire

Description

We are pleased to bring this three bedroom home to our auction. It is located in Kirkby-In-Ashfield and sits opposite spacious woodland with great walks available on your doorstep. There is plenty of off road parking to the rear of the property. The property has two access doors, the main entrance is by the stairs and a second door that has access directly into the kitchen. The front of the property is on a shared path with gated access to the front. The rear can be accessed via the locked garden gate, which is street side. This would be an ideal purchase for an investor or builder who can oversee a renovation project. The property would require substantial work to maximise its potential for rental or resale. Once renovated it would make an ideal home for a young family.

Accommodation

The downstairs is made up of a large living/dining room that stretches the full side of the property. It is mirrored by the kitchen and a large entrance hall with the stairs positioned here. A WC sits at the front of the property, to the left of the front door. The main bathroom sits at the top of the stairs with a bedroom to the left. The master bedroom and third room sit facing out to the front of the property. The master bedroom has a built in wardrobe. The garden stretches around the side of the property and has space at the front and the back. There is a garden shed but this will require some maintenance.

Location

Located in Kirkby-In-Ashfield, opposite spacious woodland with great walks available nearby.

Tenure / Property Information

Investment Analysis

The strongest supplied evidence is 5 Woodland Walk at £127,000 in October 2022, with older same-street sales at £83,000 in 2018 and £73,500 in 2015. These provide a limited value indication only: the subject's substantial renovation requirement, exact built form and floor area are not confirmed. A base GDV of £127,000 is used cautiously, with £83,000 as a low evidence scenario; no higher supported scenario is available.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain a full inspection, itemised renovation quotes, confirmation of property type and a local rental assessment before considering a renovation-led resale or refinance strategy.

Works Required

Substantial renovation is indicated by the auction description to maximise rental or resale potential. The scope should be established by inspection and quotations. The garden shed is specifically said to require maintenance. No further defects or costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £55,000 guide, the known purchase price plus the £3,600 administration charge is £58,600 before renovation and other possible charges. Using the cautious £127,000 base GDV, 75% refinance equates to £95,250, but cash left in cannot be calculated without a supported works budget and complete purchase costs.

Buy-to-Let Analysis

BTL appraisal cannot be completed because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The substantial renovation requirement, unknown works cost and additional auction charges make the net yield and cash requirement unquantifiable.

Flip Analysis

The supplied evidence indicates a possible resale value around £127,000 based on the latest same-street sale, but the property requires substantial work. A flip surplus cannot be calculated because refurbishment costs, other auction charges and selling costs are not supplied.

Investor Risks & Due Diligence

• Substantial renovation is required, but no quantified scope or cost is supplied.

• No sufficiently specific rental evidence is available, preventing yield analysis.

• Additional search, seller, legal, transfer, buyer premium and disbursement charges may apply.

• The subject's exact built form and comparability with the semi-detached sold comparables are not confirmed.

• Vacant possession does not remove the risk of unknown condition and project costs.

Recommendation

Do not bid on the current evidence alone. Obtain a full inspection, itemised renovation quotes, confirmation of property type and a local rental assessment before considering a renovation-led resale or refinance strategy.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and a clear guide price, but no rental evidence, EPC, floor area, confirmed condition schedule, refurbishment budget or complete fee schedule.