2 Foundry Gardens, Knaresborough, HG5 8BB

Description

A rare opportunity to acquire by auction this charming double-fronted cottage, understood to have originally formed two separate dwellings, occupying a discreet and highly convenient position within the heart of historic Knaresborough. Arranged over three floors, the characterful and versatile accommodation includes two reception rooms, a fitted kitchen, three bedrooms and two bathrooms. The property also benefits from a separate WC, useful workshop and gardens, providing valuable outside space in this sought-after central location. Foundry Gardens is an exclusive and little-known setting comprising only three addresses. Tucked away close to Bebra Gardens. Combining considerable character, an intriguing history and an exceptional position, 2 Foundry Gardens represents a genuinely rare opportunity for buyers seeking a distinctive home, investment or renovation project in one of Knaresborough’s most desirable locations.

Accommodation

Arranged over three floors with two reception rooms, a fitted kitchen, three bedrooms, two bathrooms, a separate WC, useful workshop and gardens.

Location

Foundry Gardens is an exclusive and little-known setting comprising only three addresses, tucked away close to Bebra Gardens in central Knaresborough.

Tenure / Property Information

Investment Analysis

The only recent supplied comparable is 4 Foundry Gardens, a freehold terraced property sold for £270,000 on 13 December 2022. It is on the same street but is not the subject property, and no size, condition or specification comparison is provided. Using £270,000 as a cautious indicative base GDV gives a £50,000 gap above the £220,000 guide, but this is not a formal valuation and current market movement cannot be established from the evidence supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, viewing and confirmation of condition, costs and title. Treat the £270,000 GDV as a single-comparable reference rather than a firm resale value; do not rely on BTL or BRRRR without rental and cost evidence.

Works Required

No specific defects or required works are evidenced. Allow only for inspection-led repairs, updating or renovation after reviewing the legal pack and viewing; no quantified works allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the indicative £270,000 GDV, a 75% refinance would be £202,500. However, refurbishment cost, acquisition costs, finance costs and rent are unknown, so cash required, leverage and viability cannot be calculated reliably.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Operating costs, EPC and heating information are also absent.

Flip Analysis

A potential resale margin exists between the £220,000 guide and the £270,000 same-street 2022 sale, but the comparable is not the subject property and no works, selling costs, buyer fees or current-market evidence are supplied. A defensible flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• Flying freehold requires careful legal review and confirmation of rights, repair obligations and mortgageability.

• Additional auction costs and fees are stated to apply but are not quantified.

• The property is described as a renovation opportunity, but no condition survey or quantified works schedule is supplied.

• The sole recent comparable is a different property on the same street and sold in December 2022.

• No sufficiently specific rental evidence is available, preventing reliable BTL yield analysis.

• EPC, heating and parking information are not supplied.

• The property's history as potentially formed from two dwellings should be verified through title, planning and building-control documentation.

Recommendation

Proceed only subject to legal-pack review, viewing and confirmation of condition, costs and title. Treat the £270,000 GDV as a single-comparable reference rather than a firm resale value; do not rely on BTL or BRRRR without rental and cost evidence.

Strategy Rating

Analysis Confidence

One same-street completed sale supports only a broad GDV indication. There is no rental evidence, condition report, EPC, heating or parking information, and auction fees and other costs are unspecified.