25 Peartree Road, Luton, Bedfordshire, LU2 8AZ

Description

A Vacant Two Bedroom Mid Terrace House in Need of Refurbishment. Potential for Rear Extension (Subject to Obtaining all Relevant Consents)

Accommodation

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

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Wandon Park are within easy reach. Transport links are provided by Luton rail station.

Tenure / Property Information

Investment Analysis

The five supplied same-road freehold terraced comparables range from £195,000 to £260,000, with a median of £203,000. The £260,000 sale is materially above the other evidence and the same property appears at both £203,000 and £260,000 on different dates. A base GDV of £203,000 is therefore used, subject to uncertainty over differences in size, condition and specification. The subject requires refurbishment, but no detailed scope or cost evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only as a carefully costed refurbishment project after reviewing the legal pack, inspecting the property and obtaining contractor pricing. Do not rely on the potential extension or an investment rent case without consents and rental evidence.

Works Required

Refurbishment of the vacant two-bedroom terraced house, including works required to the reception room, kitchen, bedrooms and bathroom. No specific defects, services issues or refurbishment specification are provided. A rear extension is mentioned only as potential and would be subject to all relevant consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% refinance is estimated at £152,250. However, refurbishment costs, total project cost, finance costs and the achievable post-works value are not sufficiently evidenced, so cash left in and equity cannot be calculated. The £1,800 administration charge is known, with possible additional legal-pack disbursements.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparables or auctioneer rent estimate are supplied. Gross yield, operating costs and debt coverage therefore cannot be calculated. The property is vacant and requires refurbishment before letting.

Flip Analysis

At the £175,000 guide, the known purchase price plus the £1,800 administration charge is £176,800 before refurbishment, finance, conveyancing, auction and selling costs. Against the £203,000 base GDV, the apparent margin is insufficiently evidenced because refurbishment and selling costs are unknown. A reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• The potential rear extension requires all relevant consents and cannot be relied upon in the valuation.

• No sufficiently specific rental evidence is available, so BTL returns cannot be established.

• The comparable sales show a wide range, including two materially different recorded prices for the same property.

• Additional legal-pack disbursements may become payable on completion.

• The property is vacant and requires works before occupation or letting.

Recommendation

Proceed only as a carefully costed refurbishment project after reviewing the legal pack, inspecting the property and obtaining contractor pricing. Do not rely on the potential extension or an investment rent case without consents and rental evidence.

Strategy Rating

Analysis Confidence

Same-road sold evidence supports a provisional GDV range, but condition, refurbishment costs, rental evidence, property specifications, finance costs and some purchase disbursements are unavailable.