3 Levisham Close, Hull, East Riding of Yorkshire

Description

A one bedroom ground floor apartment benefiting from double glazing and electric heating. The property comprises communal lobby, entrance hall, living room, kitchen, bedroom and bathroom. The property is conveniently located close to the University of Hull and following general modernisation and refurbishment would be ideal for an owner-occupier or investor.

Accommodation

Ground Floor: Entrance Hall, Kitchen, Living Room, Bedroom, Bathroom.

Location

Conveniently located close to the University of Hull.

Tenure / Property Information

Investment Analysis

The £35,000+ guide is the only supplied price evidence. No completed sales, rental comparables, GDV evidence, EPC, council tax, parking or confirmed service-charge information has been provided, so market value and investment returns cannot be reliably quantified. The property is a one-bedroom ground-floor leasehold flat requiring general modernisation and refurbishment, with a new 990-year lease and peppercorn ground rent stated, subject to confirmation of lease terms.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain and review the legal pack, confirm the new lease and service-charge provisions, inspect the property, and source local completed-sale and rental evidence before considering owner-occupier or investment purchase.

Works Required

General modernisation and refurbishment as described by the auctioneer. The supplied evidence does not specify individual defects, fixtures, finishes or services, so no detailed works allowance can be supported.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because refurbishment costs, achievable rent, GDV, finance costs and refinance valuation evidence are unavailable. The proposed new 990-year lease and peppercorn ground rent are potentially helpful, but service-charge and lease review provisions remain to be confirmed in the legal pack.

Buy-to-Let Analysis

The flat is located close to the University of Hull and is described as suitable for an investor, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Rent, yield and maximum purchase price cannot therefore be established. The buyer fee at the £35,000 guide would be £1,860 because the stated 1.2% fee is below the £1,860 minimum, subject to legal-pack charges and other costs.

Flip Analysis

A flip assessment cannot be quantified because there are no completed sales, GDV evidence, detailed works costs or supported selling allowance. The property is described as requiring general modernisation and refurbishment, so condition and resale margin require verification before bidding.

Investor Risks & Due Diligence

• General modernisation and refurbishment requirements are not itemised or costed.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• No completed-sale comparables or GDV evidence are supplied.

• Service-charge and any lease review provisions remain to be confirmed in the legal pack.

• Additional legal-pack fees may apply.

• The stated 1.2% buyer fee is subject to a minimum of £1,860 including VAT.

• Electric heating may affect running costs, but no EPC or energy-cost evidence is supplied.

Recommendation

Do not bid on the supplied evidence alone. Obtain and review the legal pack, confirm the new lease and service-charge provisions, inspect the property, and source local completed-sale and rental evidence before considering owner-occupier or investment purchase.

Strategy Rating

Analysis Confidence

Only the guide price, property description, tenure, proposed lease term, buyer-fee terms and broad location/use information are supplied. There is no completed-sale evidence, rental evidence, detailed condition report, GDV, refurbishment budget, EPC, council-tax or service-charge information.