27A, High Street, Wellingborough, NN8 4JZ

Description

A vacant leasehold first floor flat. A first floor studio flat. The property is in need of modernisation.

Accommodation

First Floor: Studio Flat with Kitchen and Shower Room/WC.

Location

Wellingborough

Tenure / Property Information

Investment Analysis

The supplied comparables are historic Land Registry sales from 2006 and 2008, including the subject at £48,000 on 29 May 2008. They do not provide reliable current market evidence, and no current comparable, rental evidence or formal valuation is supplied. Current GDV and a supported maximum bid cannot therefore be established. The known guide price plus the stated administration charge is £7,700 before any other costs, works, taxes or legal-pack charges.

Investment Snapshot

Strategy Recommendation

Do not commit to a bid based on the guide alone. Obtain the legal pack, inspect the flat, confirm leasehold liabilities and obtain current valuation and rental evidence before considering a modernisation-led resale or letting strategy.

Works Required

Modernisation is required, but the evidence does not specify the scope or condition of individual elements. Inspect and cost the studio, kitchen and shower room/WC, together with any leasehold or common-area obligations, before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because current GDV, refurbishment cost, rent and refinance assumptions are unsupported. The known guide price plus the £2,700 administration charge totals £7,700 before works and other costs, but the lease details and modernisation scope require review.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The flat is vacant and requires modernisation, with EPC E. Allowance is also needed for the leasehold terms, service charges and other legal-pack costs, none of which are provided.

Flip Analysis

A flip surplus cannot be calculated. The available sales evidence is historic, with the subject selling for £48,000 in 2008, and no current GDV, works budget or selling-cost allowance is supplied.

Investor Risks & Due Diligence

• Historic comparables may not reflect current market value.

• The flat requires modernisation, but the scope and cost are unknown.

• The lease details are pending in the legal pack, including potentially material leasehold obligations.

• The £2,700 administration charge is payable in addition to the purchase price.

• Additional special-condition costs, taxes and legal costs are not supplied.

• No reliable rental evidence is available, preventing yield analysis.

• The property has EPC E and is vacant on completion.

Recommendation

Do not commit to a bid based on the guide alone. Obtain the legal pack, inspect the flat, confirm leasehold liabilities and obtain current valuation and rental evidence before considering a modernisation-led resale or letting strategy.

Strategy Rating

Analysis Confidence

Only historic 2006–2008 sales, a guide price, one known administration charge and a general modernisation description are supplied. Current value, rent, works cost, lease liabilities and selling or finance costs are unavailable.