274C Muiryhall Street East, Coatbridge, North Lanarkshire

Description

We are delighted to bring to auction this superb opportunity to acquire this two-bedroom self-contained upper flat on Muiryhall Street East. The property comprises a first floor flat with entrance hallway, Lounge with fixed staircase to floored loft, kitchen diner with a range of wall and base units, two double bedrooms one with walk in wardrobe and galley bathroom with separate shower. The property requires some modernising but upon completion of works would make a fantastic addition to a buy to let portfolio with similar properties in the areas achieving £800PCM. To ensure you do not miss out on this opportunity early viewing is highly recommended.

Accommodation

First floor flat with entrance hallway, lounge with fixed staircase to floored loft, kitchen diner with a range of wall and base units, two double bedrooms, one with walk-in wardrobe, and galley bathroom with separate shower.

Location

Situated within easy reach of local shops, schools, transport links and Coatbridge town centre, this well-presented apartment combines convenience with traditional charm.

Tenure / Property Information

Investment Analysis

No completed sales or external rental comparables were supplied. The £70,000 guide is not a market valuation. The auctioneer’s £800 PCM figure is an estimate only. GDV, refurbishment cost and maximum bid cannot be supported from the evidence.

Investment Snapshot

Strategy Recommendation

Potential BTL acquisition only after inspection, legal-pack review and validation of the £800 PCM rent estimate. Do not bid above a separately evidenced maximum.

Works Required

Modernisation of the flat as required, potentially including cosmetic finishes and updating the kitchen and bathroom, subject to inspection and the legal pack. No detailed condition or works schedule is provided.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because refurbishment costs, GDV and refinance terms are unsupported. The guide-price purchase would also incur the known £3,600 administration charge plus any legal-pack costs.

Buy-to-Let Analysis

At the £70,000 guide, the auctioneer’s £800 PCM rent estimate implies approximately 13.71% gross yield before fees, finance, voids, maintenance and tax. This is not independently supported by rental comparables. The 3.6% administration charge is subject to a £3,600 minimum, with possible additional legal-pack disbursements.

Flip Analysis

A flip appraisal cannot be completed because no comparable sales, supported GDV, refurbishment budget or selling-cost allowance has been provided.

Investor Risks & Due Diligence

• The £800 PCM rent is an auctioneer estimate rather than achieved rent.

• The property requires modernising, but the scope and cost of works are unknown.

• The guide price is not a formal valuation and no sold comparables were supplied.

• The 3.6% administration charge is subject to a £3,600 minimum.

• Additional legal-pack disbursements and other purchaser costs may apply.

• No occupancy information was supplied.

Recommendation

Potential BTL acquisition only after inspection, legal-pack review and validation of the £800 PCM rent estimate. Do not bid above a separately evidenced maximum.

Strategy Rating

Analysis Confidence

Property description, guide price, fee structure and an auctioneer rent estimate are supplied, but there are no completed sales, independent rental comparables, detailed condition report, works budget or GDV evidence.