18J Heddon Walk, Bradford, West Yorkshire

Description

A vacant, one bedroom second floor flat, in need of modernisation. The property forms part of a purpose built block, well located for St Luke's Hospital and is just 0.5 miles south of Bradford City Centre.

Accommodation

Second Floor: Hall, Lounge, Kitchen, Bedroom and Bathroom

Location

Well located for St Luke's Hospital and just 0.5 miles south of Bradford City Centre.

Tenure / Property Information

Investment Analysis

No completed-sale comparables, rental evidence or formal valuation evidence was supplied. Market value, GDV and a maximum bid therefore cannot be supported. At the £23,000+ guide, the 1.2% buyer premium is below the £1,860 minimum, giving a known guide-price acquisition cost of £24,860 before refurbishment and any additional special-condition fees.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence alone. Review the legal pack, inspect the flat and obtain refurbishment, rental and resale evidence before setting a bid limit.

Works Required

Modernisation is required, but the supplied evidence does not specify the condition or scope. Obtain a full inspection and contractor quotations before budgeting works.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be supported without a refurbishment budget, rental evidence and GDV or refinance valuation. The new 990-year lease and peppercorn ground rent are positive stated terms, but service-charge and review provisions remain subject to the legal pack.

Buy-to-Let Analysis

The flat is vacant and described as needing modernisation, but no sufficiently specific rental evidence or auctioneer rent estimate was supplied. Rent and yield cannot be established. The guide-price cost is £24,860 including the minimum buyer premium, before works and other fees.

Flip Analysis

A flip surplus cannot be calculated because there are no completed-sale comparables, GDV evidence, refurbishment costs or supported selling allowance. The property is described as requiring modernisation, and additional auction fees may apply.

Investor Risks & Due Diligence

• No completed-sale comparables or formal market-value evidence supplied.

• No sufficiently specific rental evidence or auctioneer rent estimate supplied.

• The flat needs modernisation, but the scope and cost of works are unknown.

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

• Service-charge and any lease review provisions remain to be confirmed in the legal pack.

• The new lease is granted on completion, so its final terms require legal review.

• The 10% deposit is subject to a £5,000 minimum and is payable immediately upon exchange.

Recommendation

Do not bid on current evidence alone. Review the legal pack, inspect the flat and obtain refurbishment, rental and resale evidence before setting a bid limit.

Strategy Rating

Analysis Confidence

The description, tenure, occupancy, guide, buyer-premium minimum and stated lease term are available, but GDV, comparable sales, rent, condition detail, works costs, service charges and some fees are unsupported or unknown.