150, Boulton Lane, DERBY, Derbyshire, DE24 0FG

Description

A three bedroom semi detached property located in popular Alvaston, close to amenities and bus routes. The property requires a scheme of modernisation which gives potential to increase the value. Alvaston is conveniently located for easy access into Derby city centre and for a number of road links including the A38, A50, A52 & M1. There is an array of amenities close by including, grocery stores, eateries, medical facilities and schools. The accommodation comprises an entrance porch, hallway, lounge, dining and a kitchen to the ground floor. To the first floor are three bedrooms and a bathroom. Externally, the property has a driveway and garden to the front, with a garden to the rear. There is also a detached garage to the rear. Offered for sale with the benefit of vacant possession. It is our understanding that the Property is not registered at the Land Registry which is the case with a significant proportion of land across England and Wales. Your conveyancer will take the necessary steps and advise you accordingly.

Accommodation

Ground Floor: entrance porch, hallway, lounge, dining and a kitchen. First Floor: three bedrooms and a bathroom. External: a driveway and garden to the front, with a garden to the rear. There is also a detached garage to the rear.

Location

Located in popular Alvaston, close to amenities and bus routes, with easy access into Derby city centre and road links including the A38, A50, A52 and M1. Nearby amenities include grocery stores, eateries, medical facilities and schools.

Tenure / Property Information

Investment Analysis

The £130,000 guide is below the supplied same-street sold evidence, including £180,000 at 148 Boulton Lane in August 2023 and £176,600 at 134 Boulton Lane in September 2021. However, the comparable properties' condition and specification are not supplied, while this property requires modernisation. An indicative base GDV of £180,000 is therefore used cautiously, rather than as a formal valuation. The £1,800 inclusive-of-VAT contract documentation fee is the only quantified buyer cost supplied; seller additional fees may also apply.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally, subject to legal-title confirmation, full survey and a firm refurbishment quotation. The strongest initial case is a value-add BTL or BRRR purchase if the works are manageable and £850 pcm is achievable; do not rely on the indicative GDV for a flip without verified costs.

Works Required

A scheme of modernisation is indicated by the auction description. The precise works, specification and costs are not supplied, so a reliable refurbishment allowance cannot be calculated. A full inspection should establish the required works to the kitchen, bathroom, decoration, flooring, services and external areas before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £130,000 guide, the known purchase price plus the £1,800 documentation fee is £131,800 before refurbishment and any other charges. A 75% refinance against the indicative £180,000 GDV would be £135,000, but the cash position cannot be calculated without a supported works budget and complete acquisition costs. The strategy is highly dependent on confirming the legal title, refurbishment scope, achievable rent and lender valuation.

Buy-to-Let Analysis

The supplied advertised asking rent is £850 pcm, equating to £10,200 annually. Against the £130,000 guide, this indicates a gross yield of approximately 7.85% before modernisation, finance, maintenance, management, voids, insurance and other costs. The yield on total cost cannot be established because refurbishment costs and any seller charges are unknown. The rent is an asking rent, not an achieved or passing rent.

Flip Analysis

The indicative £180,000 base GDV is supported principally by the £180,000 August 2023 sale at 148 Boulton Lane, but comparable condition is not provided. A flip surplus cannot be calculated because refurbishment costs, finance costs, selling costs and any applicable seller charges are not supplied.

Investor Risks & Due Diligence

• The property is stated to be unregistered at HM Land Registry, requiring conveyancer review and potentially creating legal or financing uncertainty.

• The property requires modernisation, but no quantified works scope or budget is supplied.

• The sold comparables' condition, specification and bedroom accommodation are not provided, limiting GDV reliability.

• The £850 pcm figure is an advertised asking rent rather than an achieved or passing rent.

• Heating details are unavailable.

• Seller additional fees may be payable under the Special Conditions of Sale but are not quantified.

Recommendation

Proceed only conditionally, subject to legal-title confirmation, full survey and a firm refurbishment quotation. The strongest initial case is a value-add BTL or BRRR purchase if the works are manageable and £850 pcm is achievable; do not rely on the indicative GDV for a flip without verified costs.

Strategy Rating

Analysis Confidence

There is useful same-street sold evidence, a guide price, one advertised rent and a known documentation fee, but the comparable condition, refurbishment cost, heating details, full auction charges, title position and achieved rent are not established.