261 Nottingham Road, Eastwood, Nottingham, Nottinghamshire, NG16 2AP

Description

A Vacant Three Bedroom Mid Terrace House in Need of Refurbishment

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Three Bedrooms, Bathroom. Exterior: Rear garden.

Location

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

Tenure / Property Information

Investment Analysis

The supplied completed sales for terraced freehold properties on Nottingham Road range from £86,000 to £210,000. Excluding the £86,000 outlier, sales range from £150,000 to £210,000, including £195,000 in October 2025. Because the comparables do not provide bedroom count, floor area, condition or specification, a precise valuation is not possible. A cautious evidence-based base GDV of £175,000 is used, with £150,000 low and £195,000 high scenarios.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the vacant property and obtaining a detailed refurbishment quotation. At the guide price the rental arithmetic is attractive, but the final auction price and unknown works costs are critical.

Works Required

The property is described as needing refurbishment. The scope and cost cannot be established from the supplied evidence; inspection and contractor quotations are required before bidding. No specific defects should be assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV scenario of £175,000, 75% refinance would be approximately £131,250. The project cannot be assessed fully because the purchase price at auction, refurbishment cost, disbursements and other acquisition costs are unknown. The £1,800 administration charge is known, but special-condition costs may also apply.

Buy-to-Let Analysis

The supplied advertised asking rents for 3-bed properties are £1,075-£1,100 pcm, equivalent to £12,900-£13,200 annually. Against the £60,000 guide, this indicates 21.5%-22.0% gross yield, but the guide is not necessarily the final purchase price and refurbishment, finance, voids, management, maintenance and acquisition costs are not included. Advertised rents are not achieved rents, so a reliable net return cannot be established.

Flip Analysis

A potential resale margin exists based on the £150,000-£210,000 local sold evidence, with a cautious base GDV of £175,000. However, refurbishment cost, final auction purchase price, selling costs and any finance costs are unavailable, so a reliable flip surplus or maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Final auction price may materially exceed the £60,000 guide.

• The property is stated to need refurbishment, but no scope or cost is supplied.

• Sold comparables show a wide £86,000-£210,000 range and lack detailed specification or condition information.

• Advertised rents are not achieved rents and may not reflect this property's post-refurbishment letting value.

• Special-condition disbursements, search fees, seller costs, legal fees or transfer fees may be payable.

• No EPC, council tax, heating or parking information is supplied.

Recommendation

Proceed only after reviewing the legal pack, inspecting the vacant property and obtaining a detailed refurbishment quotation. At the guide price the rental arithmetic is attractive, but the final auction price and unknown works costs are critical.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale and rental evidence, but the comparables lack bedroom, size and condition details, while refurbishment costs, EPC, council tax, legal disbursements and final purchase price are unavailable.