31 Lincoln Street, Wakefield, West Yorkshire WF2 0EB

Description

Description A five-bedroom HMO investment property with four rooms currently let, generating a combined rental income of £1,750 per calendar month (£21,000 per annum).

The remaining bedroom is vacant and, once fully occupied, the property is expected to produce £2,150 per calendar month (£25,800 per annum). The accommodation is arranged over three floors and comprises a ground-floor bedroom, bathroom, dining room and kitchen; three bedrooms and a separate W.C.

to the first floor; and a fifth bedroom within the converted loft. The property is presented in good condition and benefits from central heating and double glazing throughout. The property is situated on Lincoln Street, approximately one mile north-west of Wakefield city centre.

Local shops, amenities and public transport connections are readily accessible, with Wakefield Westgate railway station and the city centre within convenient reach. The location also offers good access to the wider regional road network, including the M1 motorway.

Accommodation Ground Floor: Bedroom, bathroom, dining room and kitchen First Floor: Three bedrooms and separate W.C. Second Floor: Loft-conversion bedroom Occupancy Part Let Part Vacant

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• 28 Lincoln Street – sold Mar 2025 £205,000

• 59 Lincoln Street – 2-bed terrace – sold Sep 2023 £145,000

• 6 Lincoln Street – terrace – sold Oct 2024 £100,000

HB estimated GDV: £175,000 low / £190,000 base / £205,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental / Income Value

Stated passing income located in the property information is approximately £25,800 pa. For this specialist asset, passing income is more meaningful than imposing a standard AST rent.

Strategy & Value Analysis

This is not a conventional single-dwelling BRRR/flip asset. The value case should be assessed using the specialist strategy appropriate to the property—income capitalisation, asset management, planning/development or land value—while still using the market-value range above as an indicative exit benchmark.

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.