22 Leonard Street, Nottingham NG6 8RR

Description

SUPERB INVESTOR OPPORTUNITY. An ideal opportunity to add value to this two double bedroom freehold mid terrace house, located in a popular location ideally positioned within easy reach of the town Centre, requiring a scheme of modernisation throughout. In brief, the accommodation has to offer: Open plan lounge/diner, kitchen, rear lobby and bathroom. To the first floor there are two double bedrooms. Outside there is a rear yard and lawned garden.

Accommodation

Open plan lounge/diner (7.65m x 3.69m), kitchen (2.42m x 1.78m), rear lobby, bathroom (1.89m x 1.82m), bedroom one (3.68m x 3.47m), bedroom two (3.67m x 3.11m), rear garden.

Location

Located in a popular location ideally positioned within easy reach of the town Centre.

Tenure / Property Information

Investment Analysis

Five completed sales on Leonard Street range from £121,500 to £160,000, averaging £140,900. The evidence does not state their condition or specification, while this property requires modernisation throughout. A base GDV of £140,900 is therefore an indicative same-street evidence estimate, not a formal valuation. The £60,000 guide equates to a 4.8% buyer premium of £2,880, subject to any undisclosed special-condition costs.

Investment Snapshot

Strategy Recommendation

Potential refurbishment-led resale or letting opportunity, subject to a full inspection, measured works budget and independent rental evidence. Do not set a bid ceiling from the guide alone; confirm special conditions and all acquisition, finance and resale costs first.

Works Required

Modernisation throughout as stated by the auction description. The precise scope, specification and cost cannot be established from the supplied evidence; inspection should confirm the condition of the accommodation, kitchen, bathroom, services, finishes and external areas.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

An indicative refinance at 75% of the base GDV would be £105,675. However, total project cost cannot be calculated because refurbishment costs, finance costs and any additional auction or special-condition fees are unknown. Cash left in and BRRR viability are therefore unsupported.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied, so rent and gross yield cannot be established. The property may suit letting after modernisation, but the investment case cannot be assessed reliably without market rent, refurbishment cost and ongoing-cost information.

Flip Analysis

The completed-sale evidence supports an indicative GDV range of £121,500 to £160,000, with a £140,900 average. A flip surplus cannot be calculated because the modernisation budget, selling costs and other project costs are not supplied. The guide price alone is not sufficient to confirm a margin.

Investor Risks & Due Diligence

• The property is described as requiring modernisation throughout, but the scope and cost of works are unknown.

• Comparable sale conditions and specifications are not supplied, so the GDV estimate may not be directly comparable.

• No sufficiently specific rental evidence or passing rent is available.

• Additional fees may be listed in the Special Conditions of Sale and are not quantified.

• No EPC, council tax, heating or parking information is supplied.

• A 4.8% buyer premium applies, subject to a £6,000 minimum, plus any undisclosed applicable costs.

Recommendation

Potential refurbishment-led resale or letting opportunity, subject to a full inspection, measured works budget and independent rental evidence. Do not set a bid ceiling from the guide alone; confirm special conditions and all acquisition, finance and resale costs first.

Strategy Rating

Analysis Confidence

Recent same-street completed sales provide useful location evidence, but comparable condition is unknown and there is no refurbishment cost, rental, EPC, services, finance-cost or special-condition evidence.