343 Gateford Road, Worksop

Description

A two bedroom semi detached house, in need of modernisation. The property benefits from off street parking and a large rear garden. Extension potential subject to requite consents.

Accommodation

Ground Floor - Living Room, Dining Room, Kitchen, Bathroom, WC. First Floor - Two Bedrooms.

Location

Located on Gateford Road, accessed off Claylands Avenue and Hamilton Street. A range of shopping amenities are available close by in the centre of Worksop. The recreational amenities of Eddison Plantation and Owday Wood are nearby. Road links via the A57. Transport Worksop - National Rail.

Tenure / Property Information

Investment Analysis

Indicative GDV scenarios are based only on supplied same-road semi-detached sales: £103,500 to £160,000. A £125,000 base scenario reflects the directly evidenced £125,000 2023 sale, but the comparables' bedroom counts and condition are not supplied. The subject requires modernisation, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Treat as a conditional BTL/refurbishment opportunity only. Verify the modernisation scope, fees, achievable rent and resale value before bidding; do not rely on the headline guide yield alone.

Works Required

Modernisation is required, but the evidence does not specify the defects, specification or extent of works. Confirm the required scope and obtain contractor quotations. Extension potential is mentioned but remains subject to the required consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £125,000 base GDV, 75% refinance is indicative at £93,750. A cash-left-in or equity calculation cannot be completed because refurbishment costs, buyer charges, VAT and other project costs are unavailable. Refinance terms and valuation are also not supplied.

Buy-to-Let Analysis

The supplied advertised asking rent is £775 pcm, equating to £9,300 annually and a 14.31% gross yield against the £65,000 guide. This is an asking rent rather than achieved rent, and the calculation excludes modernisation, buyer fees, VAT and any seller charges. Net yield cannot be established.

Flip Analysis

A resale scenario is potentially supported by the supplied same-road sales, ranging from £103,500 to £160,000, with a £125,000 base case. Flip surplus cannot be calculated because refurbishment costs, acquisition charges and selling costs are unavailable.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but no works schedule or cost evidence is supplied.

• The £775 pcm figure is an advertised asking rent, not an achieved or guaranteed rent.

• Buyer fees, VAT and any seller charges are unspecified.

• The comparable sales vary materially in price and their bedroom counts and condition are not supplied.

• Any extension remains subject to the required consents.

• EPC, council tax, heating and operating-cost information are unavailable.

Recommendation

Treat as a conditional BTL/refurbishment opportunity only. Verify the modernisation scope, fees, achievable rent and resale value before bidding; do not rely on the headline guide yield alone.

Strategy Rating

Analysis Confidence

There are several same-road completed sales and one advertised rental, but bedroom counts and condition of the comparables, refurbishment scope, EPC, running costs, buyer fees and seller charges are unavailable.