17 Jordan Avenue, Shaw, Oldham, Lancashire OL2 8DQ

Description

A residential development opportunity comprising a three bedroom semi detached bungalow with driveway, garage and gardens. Internally the accommodation benefits from UPVC double glazing and central heating but requires updating throughout and an element of structural repair. The auctioneers have been provided with a schedule of repair works and quotation of approximately £12,000 to undertake the required structural improvements. A copy of that report is included within the legal pack.

Accommodation

Ground Floor: Entrance Hall; Kitchen / Dining Room; Living Room; Bedrooms x 3; Bathroom.

Location

Jordan Avenue forms part of an established and popular residential location in Shaw, approximately 4 miles north of both Oldham and Rochdale. The road largely details a number of similar bungalows well served by a number of local amenities.

Tenure / Property Information

Investment Analysis

The five supplied same-street semi-detached comparables range from £245,000 to £365,000, with a median of £275,000. The subject is also a three-bedroom semi-detached bungalow, but the comparable properties' size, condition and tenure are not provided. A base GDV of £275,000 is therefore used, with a broad evidence-based scenario range of £245,000 to £365,000. This is an estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only as a refurbishment-and-resale opportunity if the legal-pack structural report confirms the £12,000 quotation and further updating is independently costed. Do not rely on a BTL or BRRR strategy until rent and full project costs are established.

Works Required

Complete the quoted structural improvements, estimated at approximately £12,000, based on the report and quotation referred to in the legal pack. The property also requires updating throughout, but no quantified allowance or specification has been supplied, so the total refurbishment requirement may exceed £12,000.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £275,000 base GDV, a 75% refinance is approximately £206,250. Against the £210,510 base purchase-and-works cost, this indicates approximately £4,260 of cash left in before finance costs, tax, further updating, valuation/legal costs and any other fees. The result is highly sensitive to the unquantified refurbishment requirement and achieved refinance valuation.

Buy-to-Let Analysis

BTL analysis cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate has been supplied. The gross yield is therefore unsupported. The £210,510 base cost includes the £195,000 guide price, £12,000 quoted structural works and the 1.8% buyer premium of £3,510; it excludes any unquantified updating, finance, tax and other special-condition fees.

Flip Analysis

A base GDV of £275,000 compared with the £210,510 base purchase-and-quoted-works cost indicates £64,490 of gross equity before finance, tax, selling costs and additional updating. A formal flip surplus cannot be calculated because no selling-cost allowance or complete refurbishment budget has been supplied.

Investor Risks & Due Diligence

• The property requires an element of structural repair and the supplied £12,000 quotation may not cover all updating required.

• The full refurbishment specification and cost are not supplied.

• No rental evidence is available, so BTL yield and rental-cover assessment cannot be established.

• Comparable property sizes, conditions and the subject's tenure are not provided, creating GDV uncertainty.

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

• The base calculations exclude finance costs, tax, legal costs, valuation costs and selling costs.

Recommendation

Proceed only as a refurbishment-and-resale opportunity if the legal-pack structural report confirms the £12,000 quotation and further updating is independently costed. Do not rely on a BTL or BRRR strategy until rent and full project costs are established.

Strategy Rating

Analysis Confidence

Same-street sold comparables and a quoted structural-repair figure are available, but comparable specifications, tenure of the subject, rental evidence, full updating costs and special-condition fees are missing.