30, The Locks, Leeds, West Yorkshire, LS26 8PU

Description

Leasehold second floor flat with one bedroom, reception room, kitchen and bathroom/WC. Communal garden and off-street parking. The auctioneers have not measured the property; room sizes were provided by the Asset Manager.

Accommodation

One bedroom, reception room, kitchen, bathroom/WC. Lounge: 13' 5" x 9' 4" (4.09m x 2.84m). Kitchen: 10' 8" x 7' 6" (3.25m x 2.29m). Bedroom One: 18' 6" x 13' 3" (5.64m x 4.04m).

Location

The property is located on The Locks. Shopping amenities are available locally within Leeds City Centre. Public transport links are available at Woodlesford Train Station to the south, along with local bus services. Road links include the M1 to the north and A63 to the north west. Recreational pursuits are available at Rothwell Country Park to the west.

Tenure / Property Information

Investment Analysis

Recent same-development leasehold flat sales range from £160,000 to £165,000 (2023–2025), while older sales were £97,000–£98,000. Because bedroom count, condition, floor, size and sale circumstances for the comparables are not provided, the recent evidence supports a base GDV estimate of £162,000, with £97,000 as a low evidence-based scenario and £165,000 as a high scenario. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, viewing and confirmation of leasehold charges, condition and resale comparability. Do not underwrite BTL or a flip until rent, costs and works are evidenced; the current evidence is more suitable for cautious owner-occupier or value-led bidding than a fully quantified investment appraisal.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and confirmation of any works only after reviewing the legal pack and viewing, together with verification of lease terms, service charge, ground rent, heating and parking arrangements.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £162,000 base GDV, 75% refinance is indicatively £121,500. However, refurbishment costs, leasehold charges, finance costs and other acquisition costs are unknown, so total project cost and cash left in cannot be calculated reliably. The 135-year stated remaining lease is a positive feature, subject to legal-pack verification.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Service charge, ground rent and other lease costs are also unknown. The known guide price plus the £1,800 administration charge would be £76,800 before any other costs, but this is insufficient to calculate a reliable net or gross yield.

Flip Analysis

A base GDV of £162,000 is supported by recent same-development sales, but resale surplus cannot be calculated because works, acquisition costs beyond the known £1,800 administration charge, finance costs and selling costs are not supplied. The wide historic price range and limited comparable detail create material valuation uncertainty.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence, preventing reliable yield analysis.

• Annual service charge, ground rent, review provisions and other lease information are awaited.

• Property has not been measured by the auctioneer and comparable property details are incomplete.

• No condition survey or specific refurbishment requirements are supplied.

• Seller may charge additional completion fees under the Special Conditions of Sale.

• The same-development sales show a wide historical price range of £97,000 to £165,000.

Recommendation

Proceed only subject to legal-pack review, viewing and confirmation of leasehold charges, condition and resale comparability. Do not underwrite BTL or a flip until rent, costs and works are evidenced; the current evidence is more suitable for cautious owner-occupier or value-led bidding than a fully quantified investment appraisal.

Strategy Rating

Analysis Confidence

Several same-development sold comparables and a stated lease term are available, but bedroom/condition details for comparables, rental evidence, lease charges, property condition, heating information and potential seller fees are missing.