21 Atkinson Street, Colne, Lancashire, BB8 8AT

Description

An excellent opportunity for investors, developers or those looking for a renovation project, this traditional stone-built mid-terrace property is offered to the market requiring a programme of refurbishment throughout. The accommodation is arranged over two floors and extends to approximately 50.51 sq m (544 sq ft). The ground floor comprises a lounge and generously sized kitchen, while the first floor provides two well-proportioned bedrooms and a bathroom. Externally, the property benefits from an attractive traditional stone frontage onto a cobbled residential street, together with an enclosed yard to the rear. As demonstrated by the photographs, the property requires modernisation and improvement, providing an ideal blank canvas for a purchaser to refurbish to their own specification. Once completed, the property could make an attractive buy-to-let investment or resale opportunity, subject to any necessary consents. Located in Colne, Lancashire, the property is well positioned for access to the town centre and the surrounding amenities, making this an appealing proposition for investors and developers seeking a value-add opportunity. Tenure: See Legal Pack EPC Rating: D

Accommodation

The supplied particulars indicate approximately 2 bedroom accommodation. Room layout, floor areas and dimensions should be confirmed from the auctioneer particulars, floor plan and inspection.

Location

Located in Colne, Lancashire. Investor due diligence should test local transport, employment, amenities and tenant demand at the exact micro-location. Cross-check the postcode and legal title before bidding.

Investment Analysis

The figures below separate auctioneer/source facts from HB indicative estimates. HB figures are screening assumptions only and are not a RICS valuation, contractor quotation or lending decision.

Investment Snapshot

Strategy Recommendation

The initial strategy should be tested against condition, legal structure, works, rental evidence and comparable values before setting a maximum bid. The screening case depends on achieving a sufficient margin or sustainable income after all acquisition and holding costs.

Works Required

• Kitchen and bathroom modernisation review

• Electrical/heating testing and upgrades

• Decoration and flooring

• Roof, damp and structural inspection

Rental & Market Context

HB screening rent is approximately £200–£250 pcm (£2,400–£3,000 pa). Replace this with current local letting evidence. No reliable current rent was extracted from the supplied source.

Sold within approximately 5 miles

Reliable sold-property comparables were not collected from the supplied scrape. Check recent Land Registry evidence and closely comparable sold listings within approximately five miles, prioritising the same property type, size, tenure and condition.

Potential BRRR Position

Illustrative 75% refinance on the HB indicative value range is about £26,250–£32,250 against purchase + works of approximately £42,000–£55,000. Actual refinance depends on valuation, works, finance costs, rental stress testing and lender criteria.

Flip Analysis

The initial gross value spread is approximately £-20,000–£1,000 before acquisition/disposal costs. This is not profit and excludes SDLT, auction/admin fees, legal costs, finance, holding costs, insurance, utilities, professional fees, selling fees, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title and special conditions

• Confirm auction fees and completion period

• Obtain survey and works quotations

• Verify finance before bidding

• Check rental and sold comparable evidence

Recommendation

Initial recommendation: BRRR or Refurbishment & Resale. Proceed only if the legal pack, condition, costs and local evidence support the required margin/yield. Treat the guide as a starting point rather than a valuation and set a disciplined maximum bid after due diligence.

Strategy Rating

• BRRR: ★★★★☆

• Flip: ★★★★☆

• Buy-to-Let: ★★★☆☆