32, The Victory, 165, Union Street, OLDHAM, Lancashire, OL1 1TD

Description

This modern block of apartments is located within the centre of Oldham with a Metro link to Manchester and Rochdale close to the building, making this an ideal location for commuters. There are supermarkets, shops, buses and bars nearby. Oldham gives good access to the M60 motorway giving access to other cities and Manchester Airport. The Victory has lift access to all floors and the penthouse apartment benefits from gas fired central heating, double glazed windows, balcony with far reaching views and intercom security system (needs phone replacing in the flat) It would make an ideal investment property to rent out or an ideal purchase for someone who works within the area and wants a low maintenance home nearby. The Victory was until very recently closed for five years following a prohibition order by Greater Manchester Fire & Rescue Services because of fire safety deficiencies throughout the building. Before replacing the cladding, a series of external façade investigations will need to also take place. Please refer to the legal pack for further details. Accommodation: Ground Floor: Communal Entrance Hall, Stairs and Lift. Sixth Floor: Landing, Flat Entrance Hall, Open Plan Living/ Kitchen with Integrated Appliances, Balcony, Two Bedrooms and Bathroom.

Location

Property located at 32, The Victory, 165, Union Street, OLDHAM, Lancashire, OL1 1TD.

Investment Analysis

Investment Snapshot

Property & Refurbishment

Initial feasibility allowance: £5,000–£10,000. This is not a contractor quotation and should be confirmed following inspection and detailed scope.

Rental Analysis

The auctioneer-published rent identified in the source is approximately £150 per annum.

GDV / Resale Analysis

No independent RICS/Land Registry comparable valuation has been inserted solely from the scraped auction data. End value should be confirmed against recent genuinely comparable transactions before bidding.

Properties Sold Within Approx. 5 Miles

No independently verified sold comparables are inserted from the auction scrape alone. Confirm recent Land Registry/RICS comparable evidence before relying on a GDV.

Investor Risks & Due Diligence

• Review the full legal pack and title before bidding

• Confirm all auction administration / contract charges

• Verify property condition and obtain appropriate surveys

• Confirm refurbishment costs with contractor quotations

• Confirm lease length, ground rent, service charge and major works

Recommendation

Preferred strategy: Buy-to-Let / Owner-Occupier. This recommendation is an initial appraisal based on the auctioneer's published property information and should be tested against the legal pack, inspection, finance and local market evidence.

Strategy Rating

Buy-to-Let: ★★★★☆

BRRR: ★★★☆☆

Flip: ★★★☆☆