320 Chorley New Road, Bolton, BL6 5PS

Description

A two bedroom terraced property situated in the highly desirable area of Horwich, Bolton. The property is sold with tenants in situ, paying £500 per calendar month (£6,000 per annum). Rental values within the area for similar properties are in the region of £900 per month, offering scope to increase the current rental income. Edward Mellor has not yet inspected the property; however, the property is reported to comprise a reception room, kitchen, bathroom and two bedrooms. Externally, the property benefits from a rear garden and on-street parking.

Accommodation

Reception room, kitchen, bathroom and two bedrooms, as reported by the auctioneer.

Location

The location provides convenient access to the amenities of Horwich town centre, including shops, supermarkets, cafés, restaurants, pubs and everyday services, including Middlebrook Retail Park. Horwich Parkway railway station and the M61 motorway network are within close reach.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed £120,000 sale of 328 Chorley New Road in October 2025. Other nearby same-road terraced sales were £110,000 and £114,000 in 2021. The subject itself sold for £70,000 in 2008. On the supplied evidence, a base GDV of £120,000 is supportable, with £110,000 as a cautious lower scenario. The property has not been inspected, so condition could affect value.

Investment Snapshot

Strategy Recommendation

Consider as a tenanted BTL only after verifying the tenancy, rent, condition and legal documentation. Do not rely on the £900 pcm estimate or a flip/BRRR exit until inspection, costs and refinance terms are confirmed.

Works Required

No specific refurbishment defects are evidenced. An internal inspection is required to verify condition, reported accommodation, fixtures, services and any works needed. The existing tenancy, rent and property condition should also be reviewed before purchase.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £120,000 base GDV, a 75% refinance is £90,000. This is £21,000 above the £69,000 guide before any refurbishment, finance, tax, selling or acquisition costs. Total cash required and cash left in cannot be calculated because refurbishment costs and buyer/admin fees are not supplied. The property is uninspected, so refinanceability and valuation remain uncertain.

Buy-to-Let Analysis

At the current passing rent of £500 pcm, gross income is £6,000 annually, equivalent to approximately 8.7% gross yield against the £69,000 guide. At the auctioneer's estimated £900 pcm rent, annual income would be £10,800 and the gross yield would be approximately 15.7%. The £900 figure is an estimate/advertised asking-rent evidence rather than an achieved rent, and any increase depends on the tenancy and property condition.

Flip Analysis

A £120,000 base resale value is supported by the October 2025 same-road comparable, with a £110,000 lower scenario. A flip surplus cannot be calculated because refurbishment costs, acquisition costs and selling costs are not supplied, and the property has not been inspected. The existing tenancy may also affect possession and resale timing.

Investor Risks & Due Diligence

• The auctioneer has not inspected the property, so condition and required works are unverified.

• The tenant is paying £500 pcm, materially below the approximately £900 pcm estimate.

• The £900 pcm figure is an auctioneer estimate and advertised asking-rent evidence, not achieved rent.

• Tenancy terms, possession position and tenant payment history are not supplied.

• Buyer premiums, administration charges and other auction costs are not supplied.

• Leasehold title and the 923-year remaining term should be legally verified.

• Parking is on-street only.

• The reported accommodation and property details have not been independently verified.

Recommendation

Consider as a tenanted BTL only after verifying the tenancy, rent, condition and legal documentation. Do not rely on the £900 pcm estimate or a flip/BRRR exit until inspection, costs and refinance terms are confirmed.

Strategy Rating

Analysis Confidence

Same-road completed sales, tenancy rent, rental evidence and lease length are supplied, but the property is uninspected and refurbishment costs, auction fees, tenancy terms and selling costs are unavailable.