3/2, 24 South Street, Greenock, Inverclyde PA16 8UE

Description

New to auction is this opportunity to acquire this one bedroom attic flat on South Street, Greenock. The property requires a programme of refurbishment but upon completion of works would make a fantastic buy to let or starter flat. To ensure you do not miss out on this property early expression of interest is highly recommended.

Accommodation

The accommodation is accessed by secure common entry and comprises a lounge, kitchen with pantry, bedroom, bathroom and separate w/c.

Location

Situated on the southern bank of the Firth of Clyde, Greenock is a vibrant coastal town in Inverclyde that marries a rich maritime heritage with modern convenience. Famous for its sweeping waterfront vistas, historic architecture, and the iconic Esplanade-a picturesque promenade popular with walkers and cyclists-Greenock provides an enviable lifestyle for residents of all ages.

Tenure / Property Information

Tenure	Freehold
EPC	Current Rating F
Council Tax	Band A

Investment Analysis

The £18,500 guide is the only price evidence supplied. No completed comparables, GDV evidence, rental evidence or refurbishment costings are available, so market value and investment returns cannot be reliably estimated.

Investment Snapshot

Guide Price

£18,500 (plus fees)

Strategy Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspect the flat, secure refurbishment quotations and establish local achieved sale and rental evidence before considering a buy-to-let or resale strategy.

Works Required

Refurbishment of the lounge, kitchen with pantry, bedroom, bathroom and separate WC as required. The F-rated EPC may require energy-efficiency improvements, subject to inspection and legal requirements.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Potential BRRR Position

BRRR analysis cannot be supported because refurbishment costs, post-works GDV, rent and refinance value are unavailable. The F EPC rating and unknown works scope increase uncertainty.

Buy-to-Let Analysis

The property is described as suitable for buy-to-let, but no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Yield cannot be established. The 3.6% administration charge is £666 on the guide price, before any other fees and refurbishment.

Flip Analysis

A flip surplus cannot be calculated because there are no comparable sales, GDV evidence, refurbishment costs or supported selling allowance.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown.

• Current EPC rating is F.

• No sufficiently specific rental evidence is available.

• Additional special-condition fees, disbursements or seller costs may apply.

• Legal title and auction conditions require review in the legal pack.

Recommendation

Do not bid on current evidence alone. Obtain the legal pack, inspect the flat, secure refurbishment quotations and establish local achieved sale and rental evidence before considering a buy-to-let or resale strategy.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low

Only the guide price, property description, tenure, EPC and administration charge are supplied; there are no comparables, rent evidence, works costs or GDV evidence.