25 Riddings Street, Derby, Derbyshire, DE22 3UT

Description

A short distance from popular Abbey Street, this traditional terraced property offers excellent access to Derby city centre and numerous local amenities including convenience shopping, schooling, places of worship, Stockbrook Park, and bus routes. The property has been rented for many years and is now prime for modernisation. Comprising two receptions, kitchen, rear hall, family bathroom, while upstairs are three bedrooms and outside is a rear yard. The tenant in situ is scheduled to vacate 30/09/2026, please refer to the legal pack.

Accommodation

Ground Floor: Lounge, dining room, kitchen, rear hall, bathroom/w.c. First Floor: Landing, three bedrooms. External: Rear yard.

Location

A short distance from popular Abbey Street, with access to Derby city centre and local amenities including convenience shopping, schooling, places of worship, Stockbrook Park, and bus routes.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £81,000 to £170,000. Excluding the older £81,000 sale, the four 2024–2026 comparables range from £139,950 to £170,000, supporting a base GDV estimate of £150,000. The property requires modernisation, but the scope and cost are not quantified in the evidence.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase for BTL or BRRR, subject to legal-pack review, vacant possession confirmation, inspection and a fully costed modernisation schedule. Do not rely on the headline yield without confirming total project costs.

Works Required

Modernisation of the existing house as supported by the description. The evidence does not specify particular defects, fixtures, services or a quantified works schedule, so no detailed scope or cost is assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR case is indicated by the guide price, local completed sales and an estimated base GDV of £150,000. However, refurbishment cost, acquisition costs beyond the £1,800 documentation fee, finance costs and seller-charged fees are not quantified. Cash-left-in and equity calculations therefore cannot be reliably established.

Buy-to-Let Analysis

Using the two advertised asking rents of £895–£925 pcm, estimated annual rent is £10,740–£11,100. Against the £80,000 guide, the gross yield is approximately 13.43%–13.88%, before refurbishment, finance, management, maintenance, voids and other costs. These are asking rents, not achieved rents, and the property requires modernisation.

Flip Analysis

The comparable evidence supports a broad resale value range of £139,950–£170,000, with a base GDV estimate of £150,000. A flip surplus cannot be calculated because refurbishment costs, selling costs and potentially applicable seller fees are not supplied.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unquantified.

• The two rental figures are advertised asking rents rather than achieved rents.

• Additional seller fees may be payable under the special conditions of sale.

• The description refers to a tenant scheduled to vacate on 30/09/2026, while the supplied occupancy is stated as vacant; vacant possession should be confirmed.

• Parking and heating details are not supplied.

• The £81,000 comparable indicates potentially material condition variation among same-street properties.

Recommendation

Potential value-add purchase for BTL or BRRR, subject to legal-pack review, vacant possession confirmation, inspection and a fully costed modernisation schedule. Do not rely on the headline yield without confirming total project costs.

Strategy Rating

Analysis Confidence

There are multiple same-street completed sales and two rental asking-price references, but the refurbishment scope, costs, legal-pack terms, seller fees and confirmed possession position are not supplied.