2 Woodland Mews The Fell, Newcastle upon Tyne, Tyne and Wear, NE16 6BF

Description

An excellent opportunity to acquire a three bedroom mid-terraced house with a garage and garden located within a residential development in Burnopfield. The property is in need of refurbishment and modernisation throughout, making it an ideal opportunity for a buyer looking to add value. The property has an entrance hallway, lounge, kitchen, three bedrooms, a main bathroom, an ensuite and a separate WC downstairs. Externally, the property benefits from a garden together with a garage. PLEASE NOTE: the property has solar panels.

Accommodation

Entrance hallway, lounge, kitchen, three bedrooms, main bathroom, ensuite and separate WC downstairs.

Location

Located within the popular residential area of Burnopfield, with a range of local amenities and services available nearby, together with convenient access to surrounding towns and transport links.

Tenure / Property Information

Investment Analysis

The supplied sold comparables are nearby Woodland Mews transactions from 2008–2009, ranging from £125,000 to £168,000, but they are too historic to support a reliable current GDV. The property is described as requiring refurbishment and modernisation throughout. Current rental evidence is inconsistent, with advertised asking rents of £325 pcm and £850 pcm; neither is an achieved rent and no auctioneer estimate is provided. A current valuation, measured condition assessment and legal-pack review are required.

Investment Snapshot

Strategy Recommendation

Do not commit at the guide based on the current evidence. Obtain the legal pack, confirm tenure and solar-panel arrangements, commission a current comparable valuation, establish a detailed refurbishment budget and verify achievable local rent before bidding.

Works Required

Refurbishment and modernisation throughout, supported by the auction description. The evidence does not specify which fixtures, finishes, services or external elements require work. Solar-panel ownership, maintenance and benefit arrangements should be checked in the legal pack.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because current GDV, refurbishment cost, rent, tenure and full purchase costs are unsupported or unavailable. The £3,600 including VAT admin charge is known, while buyer premium and other potential legal, search, transfer and seller-cost disbursements remain unspecified. Refinance proceeds cannot be calculated without a supported GDV.

Buy-to-Let Analysis

Using the £96,000 guide only, the two advertised asking rents imply indicative gross yields of approximately 4.06% to 10.63%. The evidence is too inconsistent to select a reliable rent, and no refurbishment cost, current valuation or complete acquisition-cost schedule is supplied. A dependable BTL yield cannot therefore be established.

Flip Analysis

A flip surplus cannot be calculated. The only sold evidence is from 2008–2009, and no supported refurbishment budget, current GDV or selling-cost allowance is available. The guide price plus the known £3,600 admin charge is not sufficient to assess profitability.

Investor Risks & Due Diligence

• Historic 2008–2009 comparables may not represent current market value.

• The property is described as requiring refurbishment and modernisation throughout, but the scope and cost are unspecified.

• Rental evidence ranges from £325 pcm to £850 pcm and consists only of advertised asking rents.

• Buyer premium and possible legal, search, transfer, seller-cost and other disbursements are not quantified.

• Tenure and lease details are subject to the legal pack and are not supplied.

• Solar-panel ownership, liabilities and benefit arrangements are not supplied.

• Garage and garden are described but their legal inclusion and condition require verification.

Recommendation

Do not commit at the guide based on the current evidence. Obtain the legal pack, confirm tenure and solar-panel arrangements, commission a current comparable valuation, establish a detailed refurbishment budget and verify achievable local rent before bidding.

Strategy Rating

Analysis Confidence

The property description, guide price, known admin charge, historic nearby sales and two advertised rents are supplied, but the sales evidence is historic, rents conflict, and GDV, refurbishment costs, tenure and full fees are unavailable.