32 Wynyard Mews, Hartlepool, Cleveland, TS25 3JE

Description

Auction House would like to advertise this two bedroom apartment located in Owton Manor and offered to the market via online auction. Comprising of an entrance hallway, lounge, kitchen, two bedrooms, and a bathroom. This property is being sold with vacant possession but provides an excellent investment opportunity in a sought after rental area.

Accommodation

Entrance hallway; kitchen: 3.175m x 2.6416m (10'5" x 8'8"); lounge: 4.4958m x 3.7338m (14'9" x 12'3"); bathroom; bedroom two: 3.5306m x 2.8702m (11'7" x 9'5"); bedroom one: 4.1148m x 3.0988m (13'6" x 10'2").

Location

Located in Owton Manor, close to a range of amenities and transport links.

Tenure / Property Information

Investment Analysis

Completed sales at the same development range from £25,000 in May 2024 to £34,000 in May 2022, with older sales of £43,000–£53,580. The recent £25,000 sale is the strongest time-relevant evidence. A cautious base GDV of £30,000 is adopted, with a supported evidence range of £25,000–£34,000; the older higher sales are not relied upon as the primary indication.

Investment Snapshot

Strategy Recommendation

Proceed only after inspection and legal-pack review. Do not bid solely on the apparent discount to comparable sales; establish leasehold costs, lease length, achievable rent, condition and all auction charges first.

Works Required

No condition or photographic evidence is supplied, so refurbishment cannot be reliably scoped or costed. Obtain the legal pack, inspect the apartment and confirm whether any remedial, decorative, kitchen, bathroom or compliance works are required before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% of value is approximately £22,500. However, total acquisition and refurbishment costs cannot be calculated because works, buyer premium and other completion charges are unspecified. Refinance headroom therefore cannot be assessed reliably.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The stated vacant possession and local rental-demand description are not enough to calculate rent or yield. Confirm achievable rent, service charge, ground rent, lease length and all leasehold restrictions.

Flip Analysis

A cautious base GDV of £30,000 is indicated by the supplied completed sales, but refurbishment costs, buyer premium, other acquisition charges and selling costs are unknown. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Condition and refurbishment requirements are not provided.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• The lease length, ground rent, service charge and other lease terms are not supplied.

• Buyer premium amount is unspecified and additional legal, search, seller-cost, transfer and disbursement charges may apply.

• Comparable sale prices vary materially and the higher sales are older than the most recent £25,000 transaction.

• The property is leasehold and vacant, creating potential letting and holding-cost uncertainty until the legal pack is reviewed.

Recommendation

Proceed only after inspection and legal-pack review. Do not bid solely on the apparent discount to comparable sales; establish leasehold costs, lease length, achievable rent, condition and all auction charges first.

Strategy Rating

Analysis Confidence

There are several same-development completed sales and a clear property description, but condition, lease details, rent, buyer premium and other costs are missing.