18-22 Central Avenue, Worksop, Nottinghamshire S80 1EL

Description

A well located large former shop that could be split back into three individual shops each with a flat above.

Accommodation

Large former shop; could be split back into three individual shops each with a flat above.

Location

Sitting in a prime location in the heart of the city, this property is just a minutes walk from all the amenities and shops in the town centre.

Investment Analysis

The £120,000+ guide is below the same-address completed sale of £180,000 in September 2016 but above the £90,000 sale in September 2024. These conflicting historical sales do not establish a current market value or GDV, particularly because no floor areas, condition, tenure, occupancy, lease details or conversion evidence are supplied. At the guide, the 2.4% buyer premium would be £2,880, but the stated £3,600 minimum applies, giving a guide-price acquisition cost of £123,600 before works and any other costs.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain title and lease information, inspect the building, confirm planning and building-regulation feasibility for the proposed split, establish costs and obtain commercial and residential rental evidence before setting a bid limit.

Works Required

Investigate the feasibility of reinstating the property as three individual shops, each with a flat above. No condition survey, dimensions, specification, planning information, building-regulation evidence or cost information is supplied, so refurbishment and conversion costs cannot be estimated.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the evidence. There is no supported GDV, rent, conversion cost, tenure information or refinance valuation. The guide-price purchase cost including the minimum buyer premium is £123,600 before other costs and works.

Buy-to-Let Analysis

BTL analysis cannot be established. No sufficiently specific rental comparables or auctioneer rent estimate are provided, and the proposed shop-and-flat configuration is only described as a possibility rather than confirmed accommodation.

Flip Analysis

A flip appraisal cannot be established. The same-address sales of £90,000 in 2024 and £180,000 in 2016 provide conflicting historical evidence, while conversion costs, resale specification, current GDV and selling costs are unsupported.

Investor Risks & Due Diligence

• No tenure, occupancy or lease information is supplied.

• The three-shop and three-flat arrangement is described as a possibility and is not confirmed by planning, building-regulation or title evidence.

• No floor areas, condition report or conversion/refurbishment cost evidence is supplied.

• No sufficiently specific rental comparables or auctioneer rent estimate are available.

• Historical same-address sales are conflicting: £90,000 in September 2024 versus £180,000 in September 2016.

• The buyer premium is subject to a £3,600 minimum, and additional special-condition fees may apply.

Recommendation

Do not bid on the current evidence alone. Obtain title and lease information, inspect the building, confirm planning and building-regulation feasibility for the proposed split, establish costs and obtain commercial and residential rental evidence before setting a bid limit.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, buyer premium and historical same-address sales, but omits tenure, occupancy, condition, floor areas, planning status, rental evidence, works costs and confirmed accommodation details.