21 Wickworth Street, Nelson, Lancashire BB9 0LG

Description

Not yet inspected by Auction House, however understood to be a tenanted two bed mid terrace house. Property is 74m² (as taken from EPC). Externally, there is a yard to the front and rear of the property.

Accommodation

Entrance hall, living room, kitchen/diner, two bedrooms and a bathroom.

Location

Nelson, Lancashire

Tenure / Property Information

Investment Analysis

Five completed sales on Wickworth Street range from £76,000 to £96,000, with an average of £85,400. A base GDV of £85,000 is used, with low and high scenarios of £80,000 and £90,000. The property has not been inspected, so condition and any value impact from the existing tenancy remain uncertain.

Investment Snapshot

Strategy Recommendation

Potential income hold subject to satisfactory legal-pack, tenancy and condition checks. Do not assume nearby asking rents or any refurbishment uplift, and avoid bidding above a level justified after allowing for unknown costs.

Works Required

No refurbishment works are evidenced because the property has not been inspected. Verify condition, tenancy documentation, EPC position and any required repairs through the legal pack and inspection before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £85,000 base GDV, 75% refinancing equates to £63,750. This is only £150 above the £63,600 purchase price plus known minimum admin charge, before legal disbursements, finance, tax and any works. The refinance case is therefore highly sensitive to valuation and undisclosed costs, with no refurbishment allowance supported by the evidence.

Buy-to-Let Analysis

At the stated passing rent of £477 pcm, annual gross rent is £5,724. This produces a 9.54% gross yield on the £60,000 guide and approximately 9.00% on the £63,600 purchase price plus the known minimum £3,600 admin charge. Nearby asking rents are higher but are not achieved rents and should not be relied upon without verification. Net yield cannot be established because operating costs, finance costs, voids and management costs are unavailable.

Flip Analysis

The base GDV of £85,000 implies a gross spread of £21,400 over the £63,600 purchase and known minimum admin cost, before selling costs, finance, tax, legal costs, disbursements and any repairs. A reliable net flip surplus cannot be calculated because selling allowances and refurbishment costs are unsupported.

Investor Risks & Due Diligence

• Property has not been inspected, so condition and repair requirements are unknown.

• Existing tenancy details, compliance position and rent-payment history require verification.

• The £659 pcm and other rental evidence comprises advertised asking rents, not achieved rents for this property.

• Additional legal-pack disbursements and purchaser costs are unknown.

• The refinance calculation leaves virtually no surplus above the purchase price and known minimum admin charge.

• GDV scenarios are based on nearby sales and may not reflect the subject property's condition or tenancy position.

Recommendation

Potential income hold subject to satisfactory legal-pack, tenancy and condition checks. Do not assume nearby asking rents or any refurbishment uplift, and avoid bidding above a level justified after allowing for unknown costs.

Strategy Rating

Analysis Confidence

There are five directly comparable completed sales and confirmed passing rent, but the property has not been inspected, refurbishment costs are unknown, tenancy details are limited and buyer disbursements, selling costs and operating expenses are unavailable.