23 Lion Yard, High Street, Ramsey, Huntingdon, Cambridgeshire

Description

A three bedroom duplex apartment situated in the heart of Ramsey town centre, offering spacious accommodation arranged over two floors. The property benefits from a lounge/diner, fitted kitchen, three bedrooms and residents' parking, making it an opportunity for both investors and owner occupiers.

Accommodation

The accommodation is accessed via the first floor and comprises an entrance hall, fitted kitchen and spacious lounge/diner. To the second floor are three bedrooms, including a bedroom with walk-in wardrobe, and a family bathroom fitted with a bath and electric shower. First Floor: Entrance Hall, Kitchen and Lounge/Diner. Second Floor: Landing, Three Bedrooms (Bedroom Three with Walk-In Wardrobe) and Family Bathroom.

Location

Town centre location in the heart of Ramsey, within easy reach of local shops and amenities.

Tenure / Property Information

Investment Analysis

The strongest evidence is from the same Lion Yard development: £105,000 in February 2024 and £115,000 in January 2023. Older sales were £75,000-£80,000 in 2021. A base GDV of £110,000 is a reasonable evidence-led estimate, with a £105,000-£115,000 scenario range. The comparison does not provide floor areas, condition, bedroom mix or leasehold costs, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat primarily as an owner-occupier or resale-led purchase rather than an underwritten BTL/BRRR project. Proceed only after reviewing the legal pack, leasehold liabilities and inspecting condition, with bidding disciplined against the supported £105,000-£115,000 local evidence range.

Works Required

No specific defects or refurbishment requirements are evidenced. The property is described as having a fitted kitchen, fitted bathroom, electric heating and EPC C. Inspection should confirm condition before budgeting any works; no refurbishment allowance has been included.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 base GDV, 75% refinance would be approximately £82,500. Cash left in cannot be calculated because the purchase price, works allowance and total project costs are unknown. The absence of supported rent also prevents assessment of refinance affordability and ongoing viability.

Buy-to-Let Analysis

BTL appraisal cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Operating costs, service charge and ground rent are also not provided. Do not rely on an investment yield until rent and leasehold costs are verified.

Flip Analysis

The same-development sales support a base resale value of approximately £110,000, but no supported purchase price, works cost, selling allowance or confirmed condition is available. A reliable flip surplus therefore cannot be calculated. The £2,400 stated buyer premium and admin charge, plus possible legal-pack disbursements and other charges, would reduce any margin.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is available, so rental yield and cash flow cannot be established.

• Floor area, internal condition and any required works are not supplied, creating valuation and cost uncertainty.

• Leasehold service charge, ground rent, restrictions and other lease terms beyond the stated term are not supplied.

• Additional legal-pack disbursements, search fees, seller-cost reimbursement, legal fees or transfer fees may become payable.

• The final auction purchase price may exceed the guide and could exceed the supported comparable-value range.

Recommendation

Treat primarily as an owner-occupier or resale-led purchase rather than an underwritten BTL/BRRR project. Proceed only after reviewing the legal pack, leasehold liabilities and inspecting condition, with bidding disciplined against the supported £105,000-£115,000 local evidence range.

Strategy Rating

Analysis Confidence

There are two relatively recent same-development completed sales and several older sales, but no rental evidence, floor area, condition assessment, service-charge or ground-rent information, and the final auction price is unknown.