3 Hillcroft Cottages, Haverthwaite, Ulverston, Cumbria

Description

Terraced cottage in sought after location. Two bedroom mid terraced cottage located in the quiet hamlet of Haverthwaite, within The Lake District National Park. The cottage has been a very successful holiday let over the past 6 years. It has a playground and village green opposite and is home to the famous Haverthwaite steam train to lakeside on Windermere.

Accommodation

Ground Floor: Vestibule; Sitting Room 3.83m x 4.29m; Kitchen With Staircase To First Floor 1.69m x 4.79m. First Floor: Landing; Bedroom 3.00m x 4.78m; Bedroom 2.76m x 2.50m; Bathroom 2.41m x 2.50m.

Location

Located in the quiet hamlet of Haverthwaite, within The Lake District National Park. A playground and village green are opposite, and the property is home to the famous Haverthwaite steam train to lakeside on Windermere.

Tenure / Property Information

Investment Analysis

The strongest evidence is the exact property sale at £180,000 on 31 March 2021. The same terrace has sold at £140,000 in 2018, while the subject property sold at £112,500 in 2014. The £145,000 guide is below the latest exact-property sale, but no later completed sale or formal current valuation is supplied. A scenario range of £140,000 to £180,000 is supported by the available comparable evidence, with £180,000 used as the base GDV because it is the latest exact-property transaction.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack, condition and holiday-let trading due diligence. The evidence supports investigating it as a holiday-let or residential income property at or near the guide, but not committing to a flip or BRRR strategy without verified costs and current valuation evidence.

Works Required

No specific defects or required works are evidenced. Allow for inspection, legal-pack review and any routine maintenance or furnishing requirements associated with continued holiday letting, but no refurbishment budget can be supported from the supplied information.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £145,000 guide, the known admin charge is £1,740, subject to the stated terms, but the buyer premium, disbursements, works and finance costs are unknown. A 75% refinance against the £180,000 base GDV would be £135,000. Because total project costs and refurbishment requirements are unsupported, cash left in and BRRR returns cannot be reliably calculated.

Buy-to-Let Analysis

The supplied rental evidence comprises advertised asking rents of £895 and £925 pcm for two-bedroom properties in the wider LA12 area; these are not achieved rents and may not reflect this cottage or its holiday-let use. They imply annual asking rent of £10,740 to £11,100 and a gross yield on the £145,000 guide of approximately 7.41% to 7.66%, before fees, finance, maintenance, voids, management and tax. A reliable long-term BTL assessment cannot be established from the evidence.

Flip Analysis

The supported base GDV is £180,000 against a £145,000 guide, but no refurbishment budget, buyer premium, selling costs or other project costs are supplied. The apparent price gap is therefore not a reliable flip surplus. The 2021 exact-property sale is useful evidence but does not establish a current resale value.

Investor Risks & Due Diligence

• The latest exact-property completed sale supplied is from March 2021, so current market value is uncertain.

• The rental figures are advertised asking rents from the wider LA12 area, not achieved rents for this property.

• The property has reportedly operated as a holiday let, but no trading turnover, occupancy, expenses or net income are supplied.

• Buyer premium and possible legal-pack disbursements, searches, seller-cost reimbursements, legal fees and transfer fees are unspecified.

• No condition report or refurbishment requirements are supplied.

• Parking, heating and council-tax information are not supplied.

• Holiday-let demand, operating restrictions and any applicable planning or local requirements are not evidenced.

Recommendation

Proceed only subject to legal-pack, condition and holiday-let trading due diligence. The evidence supports investigating it as a holiday-let or residential income property at or near the guide, but not committing to a flip or BRRR strategy without verified costs and current valuation evidence.

Strategy Rating

Analysis Confidence

There is strong exact-property sold evidence and some local asking-rent evidence, but no current valuation, achieved holiday-let income, condition survey, buyer-premium amount, operating costs or full legal-pack cost information.