18 Worston Avenue, Bolton

Description

A Terrace House requiring modernisation with accommodation arranged on Two Floors.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Bathroom, Separate WC. Ground Floor: Entrance Hall, Living Room, Kitchen. Front Garden. Garden at Rear.

Location

Situated on Worston Avenue, close to local shopping facilities and a short drive from the amenities available in Bolton Town Centre including Bolton Train Station. Moss Bank Park is also nearby.

Tenure / Property Information

Investment Analysis

Nearby completed sales range from £100,000 to £166,000, but all supplied comparables are semi-detached freehold properties rather than the subject terrace house. A cautious evidence-led scenario range uses £100,000 as low, £118,000 as base and £166,000 as high, without applying an unsupported terrace discount. The guide is £50,000+, and the £1,500 inclusive buyer premium is known. Works costs, other completion fees and a reliable property-specific valuation are not supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the terrace property’s achievable value, obtaining a full condition survey and pricing the required modernisation. The low guide creates potential margin, but the evidence is insufficient to set a safe maximum bid.

Works Required

Modernisation is required, but no detailed condition schedule is supplied. Scope and cost cannot be quantified from the evidence; obtain a building survey and contractor quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the cautious base GDV scenario of £118,000, 75% refinancing would be approximately £88,500. However, refurbishment costs, purchase costs beyond the £1,500 buyer premium, finance costs and valuation risk are unknown, so cash left in and equity cannot be calculated reliably. The comparable evidence is also for semi-detached rather than terrace properties.

Buy-to-Let Analysis

Advertised asking rents for three-bedroom houses range from £700 to £1,175 pcm, but these are not achieved rents and include different locations. At the £50,000 guide, the indicative gross yield range is approximately 16.8% to 28.2% before works, finance, voids, management, maintenance, insurance and tax. A reliable yield on total project cost cannot be established because refurbishment and other completion costs are unknown.

Flip Analysis

The supplied comparable sales indicate a broad £100,000–£166,000 range, with a cautious base scenario of £118,000. A flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs and any additional seller fees are not supplied. The property is described as requiring modernisation and the comparables are not directly like-for-like.

Investor Risks & Due Diligence

• All supplied sold comparables are semi-detached, creating material valuation uncertainty for the terrace subject.

• The property requires modernisation, but the extent and cost of works are unknown.

• Rental evidence consists of advertised asking rents rather than achieved rents and covers different locations.

• Additional seller fees may be payable under the special conditions, but none are quantified.

• The buyer must fund the balance of the 10% deposit, subject to the stated minimum, within 24 hours.

• Finance, voids, management, maintenance, insurance, tax and selling costs are not supplied.

Recommendation

Proceed only after confirming the terrace property’s achievable value, obtaining a full condition survey and pricing the required modernisation. The low guide creates potential margin, but the evidence is insufficient to set a safe maximum bid.

Strategy Rating

Analysis Confidence

There are several nearby completed sales and rental listings, but the sales comparables are semi-detached rather than terrace properties, rents are asking figures, and no refurbishment scope or cost evidence is supplied.