18 Ross Way, Slip End, Luton, Bedfordshire, LU1 4DD

Description

A Vacant Three Bedroom Semi Detached House in Need of Refurbishment. Potential for Development (Subject to Obtaining all Relevant Consents)

Accommodation

Ground Floor: Two Reception Rooms, Kitchen, WC. First Floor: Three Bedrooms, Bathroom. Exterior: Rear garden.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Stockwood Park are within easy reach. Transport links are provided by Luton rail station.

Tenure / Property Information

Investment Analysis

The supplied completed sales are all semi-detached freehold properties on Ross Way, ranging from £295,000 to £395,000. The most recent evidence is £395,000 for 9 Ross Way on 30 May 2024. Earlier sales include £370,000 in 2020 and £330,000–£335,000 in 2021. A provisional post-refurbishment GDV range of £330,000–£395,000 is supportable from the evidence, with £370,000 used as the base case. No floor areas, specifications, condition details or comparable property condition are supplied, so this is indicative only.

Investment Snapshot

Strategy Recommendation

Treat as a refurbishment-led resale opportunity only after reviewing the legal pack, obtaining a survey and pricing the full works. Do not establish a bid limit from the current evidence because costs, development status and resale assumptions remain incomplete.

Works Required

General refurbishment is required, as expressly stated in the description. The supplied evidence does not identify specific defects, finishes or building-services requirements, so no detailed scope or cost allowance can be supported. Any development potential remains subject to obtaining all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is incomplete. On the provisional £370,000 base GDV, 75% refinance is £277,500, but the total acquisition and refurbishment cost cannot be calculated because the refurbishment scope and cost are not supplied. The £1,800 administration charge is known, while potential disbursements and other special-condition charges remain unspecified.

Buy-to-Let Analysis

BTL cannot be assessed reliably because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Refurbishment costs, finance costs and other acquisition costs are also unknown. The property is stated to be vacant.

Flip Analysis

The supplied comparable evidence supports an indicative resale range of £330,000–£395,000, with £370,000 as the base GDV. A flip surplus cannot be calculated because refurbishment costs, purchase costs beyond the known £1,800 administration charge, selling costs and potential legal-pack charges are not fully supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are not provided.

• Potential development is expressly subject to obtaining all relevant consents.

• No sufficiently specific rental evidence is available.

• Buyer disbursements and other special-condition charges may be payable but are not quantified.

• Comparable sales may differ in size, specification and condition from the subject property.

• A reliable maximum bid and project surplus cannot be calculated from the supplied evidence.

Recommendation

Treat as a refurbishment-led resale opportunity only after reviewing the legal pack, obtaining a survey and pricing the full works. Do not establish a bid limit from the current evidence because costs, development status and resale assumptions remain incomplete.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale evidence and a clear property description, but no floor area, EPC, condition detail, refurbishment budget, rental evidence, survey, development consent or complete fee schedule.