16 Norbreck Road, Thornton-Cleveleys, Blackpool, Lancashire, FY5 1RP

Description

A terraced building comprising 7 x one bedroom flats. The property is in need of modernisation and externally benefits from a rear yard. Well located for the local and recreational amenities of Blackpool. Investment let at £5,400 per annum plus vacant possession of six flats.

Accommodation

7 x one bedroom flats

Location

The property is located on Norbreck Road and is situated between Guildford Avenue and Promenade. Local amenities can be found on Victoria Road West, Rough Lea Road and Rossall Road. Recreational amenities of Norbreck Beach, Bispham Gala Field and Blackpool Park Golf Club are all easily accessible. Transport Layton - National Rail.

Tenure / Property Information

Investment Analysis

The £165,000 guide is the only pricing evidence supplied. No completed-sale comparables, GDV evidence, rental comparables, refurbishment budget or buyer/admin fees are provided, so market value and a supported maximum bid cannot be established. The property comprises seven one-bedroom flats, is partially occupied with only £5,400 per annum identified, and requires modernisation.

Investment Snapshot

Strategy Recommendation

Do not commit to a bid based on the supplied evidence alone. Obtain a full building survey, flat-by-flat rental evidence, refurbishment and compliance costs, occupancy details and applicable auction fees before considering a refurbishment-led hold or resale strategy.

Works Required

Modernisation of the seven flats and any required common or external areas, subject to inspection. The evidence does not specify particular defects, statutory works or a quantified refurbishment scope.

Rental & Market Context

Potential BRRR Position

A BRRR assessment is not supportable because refurbishment costs, achievable rents, GDV, refinance value and acquisition fees are unavailable. The six vacant flats and stated need for modernisation create an opportunity only if due diligence confirms the works, rental demand and post-works value.

Buy-to-Let Analysis

The identified passing rent is £5,400 per annum, equivalent to a 3.27% gross yield against the £165,000 guide before works, finance, operating costs and fees. Six flats are vacant and no sufficiently specific rental evidence is supplied, so stabilised rental income and a full BTL yield cannot be established.

Flip Analysis

A flip appraisal cannot be completed because there is no supported GDV, refurbishment allowance, transaction-cost information or selling allowance. The £165,000 guide alone is insufficient to calculate a resale surplus.

Investor Risks & Due Diligence

• Six of the seven flats are vacant, creating void and reletting risk.

• The building is stated to require modernisation, but the scope and cost are unknown.

• No sufficiently specific external rental comparables are supplied.

• No completed-sale comparables or GDV evidence are supplied.

• Buyer premium, administration charge and other fees are not provided.

• EPC, council tax, parking and heating information are not provided.

Recommendation

Do not commit to a bid based on the supplied evidence alone. Obtain a full building survey, flat-by-flat rental evidence, refurbishment and compliance costs, occupancy details and applicable auction fees before considering a refurbishment-led hold or resale strategy.

Strategy Rating

Analysis Confidence

Only the guide price, building configuration, partial passing rent, occupancy status, freehold tenure and general modernisation requirement are supplied; key valuation, rental, cost and compliance evidence is absent.