3 and 3A, Millicent Square, Rotherham, South Yorkshire

Description

Ready made investment. Two tenanted flats with a yield of £9,000 pa. The property is a mid-terrace investment property currently configured as two self-contained one-bedroom flats. Both flats are let at £375 PCM each, generating a combined rental income of £750 PCM (£9,000 per annum). The flats were converted a number of years ago, but documentation confirming planning permission or Building Regulations approval has not been seen. Prospective purchasers must make their own enquiries with Rotherham Metropolitan Borough Council planning department. The photos used are from the top floor flat and the ground floor flat had not been entered at the time of listing.

Accommodation

Ground Floor Flat: Front Entrance, Living Room, Bedroom, Kitchen, Bathroom and Front Garden. First Floor Flat: Rear Entrance, Landing, Living Room, Bedroom, Kitchen, Bathroom and Rear Garden.

Location

Maltby offers shops, supermarkets including Tesco, Home Bargains, schools for all age groups and regular bus services to Sheffield, Rotherham and surrounding districts. Excellent transport links are available via Junction 1 of the M18 motorway, with access to the M1 motorway network.

Tenure / Property Information

Investment Analysis

No HM Land Registry completed sales or other valuation comparables were supplied, so a supported GDV or market-value range cannot be established. The £75,000 figure is an auction guide, not a formal valuation. The property has two existing ASTs at £375 PCM each, producing £9,000 gross annual rent.

Investment Snapshot

Strategy Recommendation

Consider as a BTL purchase only after confirming the conversion is authorised, inspecting the ground-floor flat and obtaining the full legal and fee information. Do not underwrite BRRR or a flip without GDV and works evidence.

Works Required

No refurbishment works are evidenced. Before purchase, inspect the inaccessible ground-floor flat, verify heating and parking arrangements, and establish whether the two-flat conversion has the required planning permission and Building Regulations approval. Any compliance or remedial works remain uncosted.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no supported GDV, refurbishment budget, finance terms or completed-sale comparables were supplied. The 75% refinance figure and indicative cash left in therefore remain unquantified. Conversion documentation should be resolved before relying on refinance value.

Buy-to-Let Analysis

The contracted gross rent is £750 PCM, or £9,000 annually. Against the £75,000 guide, this equates to a 12.00% gross yield. Including only the stated £1,800 buyer administration charge, the known acquisition figure would be £76,800 before any unprovided purchase costs, operating costs, finance or tax; the corresponding gross yield is approximately 11.72%. The return is attractive on the supplied figures, but the legal status of the conversion and condition of the ground-floor flat require confirmation.

Flip Analysis

A flip appraisal cannot be supported because no GDV, refurbishment cost, resale allowance or completed-sale comparables were supplied. The property is currently tenanted, and no evidence was provided regarding vacant possession or resale constraints.

Investor Risks & Due Diligence

• Planning permission and Building Regulations approval for the two-flat conversion have not been evidenced.

• The ground-floor flat had not been entered at listing, so its condition is unverified.

• The seller may charge additional completion fees, but details were not supplied.

• No parking or heating information was provided.

• Actual investment returns will be affected by unprovided operating costs, finance, tax, maintenance and voids.

Recommendation

Consider as a BTL purchase only after confirming the conversion is authorised, inspecting the ground-floor flat and obtaining the full legal and fee information. Do not underwrite BRRR or a flip without GDV and works evidence.

Strategy Rating

Analysis Confidence

Rent, tenancy dates, guide price and the stated administration charge are provided, but there are no completed-sale comparables, no condition inspection of the ground-floor flat, no refurbishment costs, no GDV evidence and unresolved planning and Building Regulations documentation.