34 Bard Street, Sheffield, South Yorkshire, S2 5PE

Description

Offered for sale by auction, this well presented one bedroom first floor apartment is conveniently located just outside Sheffield city centre and benefits from off road parking.

Accommodation

Bright lounge/diner, separate kitchen, good sized bedroom, bathroom and a useful utility/store room providing additional storage space.

Location

Situated on Bard Street, the property is well placed for access to Sheffield city centre, with a range of local amenities, public transport links, universities and hospitals all within easy reach.

Tenure / Property Information

Investment Analysis

Supplied completed sales on Bard Street range from £80,000 to £120,000, including £110,000 in September 2024 and £120,000 in January 2024. Bedroom counts, floor areas, condition and lease terms are not supplied, so comparability is limited. A £110,000 base GDV is used, with £80,000 low and £120,000 high evidence-based scenarios.

Investment Snapshot

Strategy Recommendation

Potential BTL acquisition at or near guide, subject to legal-pack review, lease length and service-charge checks. The advertised rent supports an attractive headline gross yield, but unknown lease and auction costs prevent firm underwriting.

Works Required

No specific works are evidenced. The apartment is described as well presented; verify condition, lease requirements and any compliance or communal repair liabilities through the legal pack and inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £110,000 base GDV, 75% refinancing indicates £82,500 before lender costs and valuation constraints. Against the guide plus known administration charge of £71,100, this suggests £11,400 of theoretical cash extraction before any works, finance, taxes or additional auction costs. Actual refinancing depends materially on the lease, lender acceptance, valuation and unknown costs.

Buy-to-Let Analysis

At the £67,500 guide, the single advertised asking rent of £700 pcm equates to £8,400 annually and a gross yield of 12.44%. Including the known £3,600 administration charge, the gross yield is approximately 11.81%. This is based on asking rent rather than achieved rent and excludes unknown service charges, lease costs, finance, insurance, maintenance, voids and other auction fees.

Flip Analysis

Against the £110,000 base GDV, the guide plus known administration charge leaves £38,900 before works, selling costs, finance, taxes and other auction charges. No supported selling-cost allowance or refurbishment budget is available, so a reliable flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Lease terms and remaining lease length are not supplied.

• Special conditions may add search fees, seller costs, legal fees, transfer fees or other charges.

• The £700 pcm figure is an advertised asking rent, not achieved or passing rent.

• Comparable property specifications and condition are not supplied, limiting GDV reliability.

• Works, service charges, maintenance liabilities and other ownership costs are unknown.

• Refinance value and lender acceptance may be affected by the lease and legal-pack terms.

Recommendation

Potential BTL acquisition at or near guide, subject to legal-pack review, lease length and service-charge checks. The advertised rent supports an attractive headline gross yield, but unknown lease and auction costs prevent firm underwriting.

Strategy Rating

Analysis Confidence

Recent local sold comparables and one rental asking figure are available, but bedroom/floor-area details for comparables, lease terms, service charges, condition verification, passing rent and full auction costs are absent.