20 Black Rocks Avenue, Matlock, Derbyshire DE4 3ND

Description

A first floor one bedroom flat within a purpose built block, in the very popular town on Matlock.

Accommodation

Secure communal entrance, entrance hallway, double bedroom, lounge/diner, kitchen and bathroom.

Location

Matlock is a vibrant market town surrounded by stunning Derbyshire countryside, including the nearby Peak District National Park. The area offers excellent local amenities, including shops, cafes, schools, and leisure facilities, along with good public transport links to surrounding towns and cities. The property is within close proximity to local bus routes and Matlock train station, ensuring easy access to Derby and beyond.

Tenure / Property Information

Investment Analysis

The strongest supplied comparable is 22 Black Rocks Avenue, a leasehold flat in the same block, sold for £88,000 in December 2019. Older sales at the same address were £80,000 in 2004 and £41,000 in 2002. These provide useful local evidence but are dated and do not establish a current valuation. An evidence-based indicative range is £80,000–£88,000, with £88,000 used as the base scenario. No condition, EPC, council tax, service charge, current lease-pack or rental evidence is supplied.

Investment Snapshot

Strategy Recommendation

Do not commit above the guide without confirming the legal-pack terms, service charge, property condition and achievable rent. Treat the opportunity as conditional value-led bidding rather than an underwritten BTL, BRRR or flip.

Works Required

No specific works are evidenced. Obtain a full inspection and review the legal pack, lease terms, service charge information and any required works before budgeting refurbishment.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £88,000 base GDV scenario, 75% refinance would be approximately £66,000. A cash-left-in calculation cannot be completed because refurbishment costs, legal costs, finance costs and other purchase costs are unsupported. The new 990-year lease and peppercorn ground rent are positive stated terms, but service-charge details remain unconfirmed in the legal pack.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Gross yield, operating margin and debt coverage therefore cannot be calculated. The £1,860 minimum buyer premium is known, but other acquisition and ongoing property costs are not.

Flip Analysis

A resale analysis cannot be completed reliably. The £88,000 base GDV is supported only by a dated same-block sale from 2019, while refurbishment, selling and other project costs are unknown. Estimated flip surplus is therefore not calculated.

Investor Risks & Due Diligence

• The strongest comparable is dated December 2019 and may not represent current market value.

• No sufficiently specific rental evidence is available, preventing yield and cash-flow assessment.

• Condition and refurbishment requirements are not supplied.

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

• Admin charges, legal costs, finance costs and any additional special-condition fees are not supplied.

• The property is leasehold and the new lease documentation has not been reviewed.

Recommendation

Do not commit above the guide without confirming the legal-pack terms, service charge, property condition and achievable rent. Treat the opportunity as conditional value-led bidding rather than an underwritten BTL, BRRR or flip.

Strategy Rating

Analysis Confidence

The evidence includes a same-block completed sale and clear tenure/lease information, but the comparable is dated and there is no rental, condition, EPC, council-tax, service-charge or complete-fee evidence.