25 Melbourne Street, Plymouth, Devon, PL1 5HQ

Description

A vacant one-bedroom flat in a central Plymouth location. Requiring renovation throughout, the property comprises a living room, kitchen, bedroom and bathroom. The property would make an ideal investment purchase. PVCU D/G, GCH.

Accommodation

Living room; kitchen; bedroom; bathroom

Location

Central Plymouth location

Tenure / Property Information

Investment Analysis

The £50,000 guide is the only purchase-price evidence. No completed sales or GDV evidence is supplied, so market value, resale value and maximum bid cannot be established. The flat is vacant and requires renovation throughout, but the lease term and several property/auction costs are also unknown.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after inspecting the flat, confirming the lease and service-charge position, obtaining a renovation quotation, and reviewing the Special Conditions and all additional fees.

Works Required

Renovation throughout, with the precise scope and cost to be confirmed by inspection. Existing PVCU double glazing and gas central heating are stated. Obtain a schedule of works before bidding.

Rental & Market Context

Potential BRRR Position

BRRR cannot be underwritten because no GDV, quantified refurbishment cost, lease length or complete acquisition-cost schedule is supplied. Refinance proceeds and post-refurbishment equity are therefore unsupported.

Buy-to-Let Analysis

The supplied rental evidence is an advertised asking rent of £325 pcm for a one-bedroom property in PL1, not an achieved rent and not stated to be for this flat. At £50,000, this indicates a headline gross yield of 7.8% before refurbishment, finance, management, service charges, insurance, voids and other costs. A reliable net yield cannot be established.

Flip Analysis

A flip appraisal cannot be completed because there are no completed comparables, GDV evidence, refurbishment costs or supported selling-cost allowance. Any resale surplus would be speculative.

Investor Risks & Due Diligence

• Renovation is required throughout and its cost is unknown.

• Lease term is not stated.

• Buyer premium and other potential auction charges are unknown.

• The only rent evidence is an advertised asking rent for another PL1 property, not achieved rent for this flat.

• No completed sales or GDV evidence is supplied.

• Vacancy and renovation may create holding costs and letting delay.

Recommendation

Do not bid on the current evidence alone. Proceed only after inspecting the flat, confirming the lease and service-charge position, obtaining a renovation quotation, and reviewing the Special Conditions and all additional fees.

Strategy Rating

Analysis Confidence

The guide price, vacancy, accommodation, one advertised PL1 rent and broad renovation requirement are supplied, but there are no sold comparables, GDV evidence, quantified works, lease term, EPC, council tax, parking or complete fee schedule.