17 New Meeting Street, Oldbury, West Midlands, B69 4DG

Description

A semi-detached house of brick construction surmounted by a tile clad roof set back from the road behind a lawned foregarden and driveway providing off road parking. The property benefits from having UPVC double glazing and electric heating. New Meeting Street is located off Queen Street and the property is within walking distance from Oldbury Town Centre providing a wide range of shops and amenities.

Accommodation

Ground Floor Entrance Hallway, Lounge: (4.42m x 3.57m), Kitchen: (3.57m x 2.49m), Stairs First Floor Landing, Bedroom 1: (3.84m x 3.60m), Bedroom 2: (3.00m x 1.87m), Bathroom (2.17m x 1.63m) having panel bath with shower over, wash basin, and WC.

Location

17 New Meeting Street, Oldbury, West Midlands, B69 4DG. The Cottons particulars describe the property as being within an established local residential/commercial area with access to nearby shops, amenities and transport links.

Key Investment Considerations

• Guide Price: £100,000+

• Tenure: Leasehold

• Condition: Condition to verify

• Preferred strategy: BRRR / Buy-to-Let

Investment Analysis

Investment Snapshot

Strategy Recommendation

Preferred strategy: BRRR / Buy-to-Let. This is based on the Cottons property description, current condition, tenure and the guide price. It should be tested against the legal pack, inspection, finance and local market evidence before bidding.

Works Required

• Kitchen and bathroom condition check

• Electrical/heating inspection

• Decoration and flooring

• Leasehold due diligence

HB initial works allowance: £10,000–£20,000. This is an investment-feasibility allowance, not a contractor quotation.

Rental & Market Context

No current rent is stated in the Cottons particulars. For initial appraisal only, HB estimates market rent at approximately £850–£950 per month (£10,200–£11,400 per annum). This is an indicative market assumption, not an auctioneer-stated figure, and should be checked against current local lettings before bidding.

GDV / Resale Analysis

HB's indicative post-works / stabilised value range is £145,000–£165,000. This is an appraisal estimate only, not a RICS valuation. Confirm the figure using recent genuinely comparable sold evidence, adjusting for property type, condition, tenure, floor area, plot and any planning potential.

Properties Sold Within Approx. 5 Miles

Specific sold transactions are not contained in the supplied Cottons scrape, so no unverified addresses or sold prices have been inserted. Before bidding, verify recent Land Registry sales for closely comparable properties in the same postcode and surrounding area.

Potential BRRR Position

Using a middle-case appraisal of £100,000 purchase plus approximately £15,000 works gives an indicative project cost of about £115,000 before SDLT, legal, finance and auction charges. At the midpoint HB indicative value of £155,000, a purely illustrative 75% refinance would be about £116,250. That would leave approximately £0 of purchase/works capital in the project before acquisition and finance costs. Lender valuation and rental stress testing will determine the actual refinance position.

Flip Analysis

A midpoint resale appraisal of £155,000 less the £100,000 guide and midpoint works allowance of £15,000 gives an indicative gross spread of about £40,000 before SDLT, auction fees, legal costs, finance, utilities, insurance, holding costs, selling fees and contingency. This gross spread is not profit and should only be used as an initial feasibility check.

Investor Risks & Due Diligence

• Review the full Cottons legal pack, title and special conditions before bidding

• Confirm buyer's premium / administration charges and completion timetable

• Obtain an appropriate structural or condition survey

• Verify refurbishment quotations and contingency before setting a maximum bid

• Verify current local rental evidence and recent sold comparables

• Confirm lender requirements, valuation assumptions and exit finance

• Confirm lease length, ground rent, service charge, major works and lender acceptability

Recommendation

Initial recommendation: BRRR / Buy-to-Let. The guide price may offer scope for value creation, but the investment case should only proceed if the legal pack, condition, rental evidence, finance and exit value all support the proposed maximum bid.

Strategy Rating

BRRR: ★★★★☆ | Buy-to-Let: ★★★★☆ | Flip: ★★★☆☆