19 Glenfield Road, Nelson, Lancashire BB9 8AW

Description

Not yet inspected by Auction House, however understood to be a tenanted two bed mid terrace house. Property is 75m² as taken from EPC. Front garden. To the rear is a paved yard area and off road car standing area which could, if required, potentially be changed to a garden area.

Accommodation

UPVC entrance door leading into lounge; dining kitchen; stairs to first floor landing area; bedroom one; bedroom two; bathroom; boarded storage loft.

Location

19 Glenfield Road, Nelson, Lancashire. Local authority: Pendle Borough Council.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £65,750 to £105,000, with other evidence at £70,000, £63,950 and £50,000. The £105,000 sale is materially higher than the other recent evidence and its condition/specification are unknown. A base GDV of £70,000 is used, with a low scenario based on the £65,750 sale and a high scenario reflecting the £105,000 sale. The subject has not been inspected, so this remains indicative only.

Investment Snapshot

Strategy Recommendation

Potential BTL acquisition subject to verification of the tenancy, passing rent, legal pack and property condition. Do not rely on the £105,000 comparable or bid without a condition and cost assessment.

Works Required

No specific refurbishment works are evidenced because the property has not been inspected. Recommended pre-bid actions are to inspect the condition, verify the tenancy and review the legal pack. The rear off-road standing area could potentially be changed to garden space if required, but no cost or necessity is evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £70,000 base GDV, 75% refinancing equates to £52,500. A reliable cash-left-in or equity calculation cannot be completed because refurbishment costs, legal-pack disbursements and the existing tenancy position are unknown. The refinance figure is below the £58,000 guide before fees and works, so the strategy depends on buying below guide, achieving a higher valuation, or accepting retained equity.

Buy-to-Let Analysis

The only directly relevant rental evidence is an advertised Nelson asking rent of £695 pcm, equivalent to £8,340 annually. At the £58,000 guide, this indicates a gross yield of 14.38%, but it is based on an asking rent rather than achieved or passing rent. The actual BTL yield cannot be confirmed until the tenancy agreement, rent schedule and occupancy position are verified. The minimum stated admin charge makes the purchase price plus that charge at least £61,600 before works and other possible disbursements.

Flip Analysis

The indicative £70,000 base GDV is only £12,000 above the £58,000 guide. After the minimum £3,600 admin charge, the margin before works, selling costs, finance, taxes and other auction disbursements is only £8,400. A supported flip surplus cannot be calculated because works and selling allowances are unavailable. The £105,000 comparable provides upside evidence but is not sufficient to assume that valuation for this uninspected property.

Investor Risks & Due Diligence

• The property has not yet been inspected, so condition and refurbishment requirements are unknown.

• The property is tenanted, but the passing rent, tenancy terms, arrears position and possession status are not supplied.

• The stated admin charge is subject to a £3,600 minimum, and further legal-pack disbursements or seller-cost reimbursements may apply.

• The leasehold service-charge field is blank, so ongoing leasehold costs are unconfirmed.

• Same-street completed prices vary materially from £50,000 to £105,000, and the reasons for that variation are not evidenced.

• The £695 pcm rental figure is an advertised asking rent, not an achieved or passing rent.

Recommendation

Potential BTL acquisition subject to verification of the tenancy, passing rent, legal pack and property condition. Do not rely on the £105,000 comparable or bid without a condition and cost assessment.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and one directly relevant rental asking listing, but the property is uninspected, passing rent is not supplied, refurbishment costs are unknown and auction disbursements and leasehold service-charge information are incomplete.