30 Croft Street, Manchester, Greater Manchester M11 4RQ

Description

A potential redevelopment opportunity comprising a former public house located a stones throw from The Etihad Campus. Internally the accommodation is arranged over basement, ground and first floors extending to approximately 232 Sq.M (2,497 Sq.Ft) (source EPC) and requiring a comprehensive scheme of refurbishment. The property could be suitable for a variety of future uses, subject to any necessary consents.

Accommodation

Accommodation arranged over basement, ground and first floors extending to approximately 232 Sq.M (2,497 Sq.Ft) (source EPC).

Location

The property fronts onto the corner of Croft Street and Aintree Street in a mainly industrial / warehouse location immediately to the north of The Etihad Campus, Manchester City's training ground and global headquarters. The immediate surrounding area has formed part of a larger regeneration scheme in recent years. Manchester City Centre is easily accessible 3 miles to the west.

Investment Analysis

The only supplied completed sale is the same property at £250,000 on 21 November 2023. This provides a historic market reference, but not a current formal valuation or a Gross Development Value because the future use, consents, specification and refurbishment costs are unknown. The £220,000+ guide is 12% below that historic sale price. At the guide, the 1.8% buyer premium would be £3,960, before any additional fees or special-condition charges.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after confirming title and special conditions, obtaining planning/change-of-use advice, completing a building survey and producing a fully costed refurbishment and exit appraisal.

Works Required

A comprehensive refurbishment scheme is required, but the supplied evidence does not define the building condition, scope, specification, statutory works or redevelopment layout. Any change of use or redevelopment would be subject to necessary consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten from the supplied evidence. There is no supported residential end value, refurbishment budget, rent, lending assumption or confirmed change-of-use position. The historic £250,000 same-property sale is only a market reference and should not be treated as GDV.

Buy-to-Let Analysis

A BTL assessment cannot be established. No sufficiently specific rental comparable or auctioneer rent estimate has been supplied, and the property is a former public house with no confirmed residential use, bedroom count or consent position.

Flip Analysis

A flip surplus cannot be calculated because refurbishment costs, resale costs, future use, consent requirements and a supported post-works GDV are unavailable. The historic same-property sale at £250,000 is insufficient to establish a current resale value.

Investor Risks & Due Diligence

• Comprehensive refurbishment is stated, but no costed scope or condition survey is supplied.

• Future use and any change of use or redevelopment are subject to necessary consents.

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

• Tenure, lease information and occupancy are not supplied.

• Additional fees may be listed in the Special Conditions of Sale.

• Only one historic completed sale is provided, dated November 2023.

Recommendation

Do not bid on the current evidence alone. Proceed only after confirming title and special conditions, obtaining planning/change-of-use advice, completing a building survey and producing a fully costed refurbishment and exit appraisal.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, one historic same-property sale and floor area, but lacks tenure, condition detail, refurbishment costs, consents, rental evidence, end use and current comparable evidence.