22 Woolrich Street, Stoke-on-Trent, Staffordshire, ST6 3PQ

Description

A Two Bedroom End of Terrace House Subject to a Periodic Tenancy for £6,600 Per Annum. The property comprises a two bedroom end of terrace house arranged over ground and first floors. The property requires a program of refurbishment.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Two Bedrooms, Bathroom.

Location

Situated on a residential road close to local shops and amenities. The open spaces of Middleport Park are within easy reach. Transport links are provided by Longport rail station.

Tenure / Property Information

Investment Analysis

The three most recent same-street freehold terraced sales were £75,000, £80,000 and £82,000, averaging approximately £79,000. The £45,000 2023 sale and £70,000 2022 sale indicate wider evidence but may not be directly comparable. A base GDV of £79,000 is used, with a cautious £70,000–£82,000 range. Condition-specific adjustment cannot be quantified because the refurbishment requirements are not itemised.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, inspection and a detailed refurbishment quotation. The low guide price creates potential value, but the missing works scope, non-collection of rent and unknown completion costs make a firm bid or strategy unsuitable on the supplied evidence.

Works Required

Refurbishment is required according to the auction description, but no schedule or condition detail is supplied. Obtain a full inspection and contractor specification before bidding; no specific works or cost allowance can be responsibly quantified from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £10,000 guide plus the known £1,800 administration charge, the acquisition cost before refurbishment and other possible disbursements is at least £11,800. A 75% refinance against the £79,000 base GDV would be approximately £59,250, but total project cost and cash left in cannot be calculated because refurbishment, legal, search, seller-cost and transfer-fee liabilities are unspecified. Valuation and refinance eligibility also require confirmation.

Buy-to-Let Analysis

The periodic tenancy states £550 pcm, equivalent to £6,600 per annum, but no rent is currently being collected. A separate two-bedroom end-terrace asking rent of £795 pcm provides an upper market indicator, not achieved rent. Gross yield on the £10,000 guide is 66% at the stated tenancy rent, before refurbishment, fees, finance, voids and management. Net yield and yield on total cost cannot be established because refurbishment and other completion costs are unknown.

Flip Analysis

The evidence indicates a base GDV of £79,000, with a £70,000–£82,000 comparable range. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs and potentially payable auction disbursements are unknown. The apparent spread from the guide price should not be treated as profit.

Investor Risks & Due Diligence

• The property is stated to require refurbishment, but no itemised schedule or cost estimate is supplied.

• No rent is currently being collected despite the periodic tenancy rent stated at £550 pcm.

• The £795 pcm rental evidence is an advertised asking rent, not an achieved rent.

• Buyer premium, disbursements and possible search, seller-cost, legal and transfer fees are unknown.

• The £10,000 figure is only a guide price and the final purchase price may be higher.

• The comparable sales have differing prices and no detailed condition, size or specification information is supplied.

Recommendation

Proceed only subject to legal-pack review, inspection and a detailed refurbishment quotation. The low guide price creates potential value, but the missing works scope, non-collection of rent and unknown completion costs make a firm bid or strategy unsuitable on the supplied evidence.

Strategy Rating

Analysis Confidence

Same-street sold comparables and stated tenancy rent are available, but the property condition, refurbishment cost, EPC, council tax, legal-pack charges and actual rental performance are incomplete.