36, High Street, Nuneaton, Warwickshire, CV11 5DA

Description

By order of the LPA Receivers. Long leasehold self-contained flat requiring refurbishment. Full vacant possession.

Accommodation

One bedroom, reception room, kitchen, shower room/WC

Location

The property is situated on High Street. Public transport links include Nuneaton Mainline Railway Station and local bus services. Road links include the A444 and M6 motorway. Shopping amenities are available in Nuneaton Town Centre, with shops, bars and restaurants. Recreational pursuits are available at Riversley Park.

Tenure / Property Information

Investment Analysis

The supplied completed sales are historic: £60,500 for 36 High Street on 15 April 2008, £42,500 for 42 High Street in 2005 and £28,000–£17,500 for other nearby flats in 2001–2002. They provide context only and do not establish a current GDV, particularly as the flat requires refurbishment. The £50,000 guide is below the 2008 sale of the same address, but current value, condition-adjusted value and resale demand cannot be reliably established from the evidence.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming parking/heating and obtaining a detailed refurbishment quotation. Treat the £615 pcm figure as an asking-rent indication, not a guaranteed rent. Do not bid above a separately calculated maximum based on verified works and current resale evidence.

Works Required

Refurbishment is required, but the evidence does not specify the condition, defects or scope of works. Obtain a full inspection and legal-pack review before pricing any works. The accommodation comprises one bedroom, reception room, kitchen and shower room/WC.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed reliably because current GDV, refurbishment cost, service-charge position and the full lease information are unavailable. The 75% refinance figure and cash-left-in calculation are therefore unsupported. The long stated lease is potentially helpful, but buyers must verify the lease and all obligations in the legal pack.

Buy-to-Let Analysis

The only rental evidence is one advertised asking rent of £615 pcm, equivalent to £7,380 annually; it is not an achieved or passing rent. This equates to a simple gross yield of 14.76% against the £50,000 guide before the £1,800 contract documentation fee, refurbishment, service charges, management, voids, finance and other costs. Net yield and sustainable rent cannot be established.

Flip Analysis

A flip surplus cannot be calculated. Historic sales provide only limited context, with the same address recorded at £60,500 in 2008, but there is no current GDV, refurbishment budget or supported selling-cost allowance. The property is vacant, but the required refurbishment introduces material cost and programme uncertainty.

Investor Risks & Due Diligence

• Current GDV cannot be established from the supplied historic comparable sales.

• Refurbishment is required but no condition report, scope or cost estimate is provided.

• The lease information is awaited and must be checked in the legal pack.

• The £615 pcm rent is an advertised asking rent rather than achieved or passing rent.

• The £1,800 contract documentation fee is payable by the buyer and the seller may charge additional completion fees.

• Parking and heating details are unconfirmed.

• Leasehold costs and obligations, including any service charge or other restrictions, are not supplied.

Recommendation

Proceed only after reviewing the legal pack, confirming parking/heating and obtaining a detailed refurbishment quotation. Treat the £615 pcm figure as an asking-rent indication, not a guaranteed rent. Do not bid above a separately calculated maximum based on verified works and current resale evidence.

Strategy Rating

Analysis Confidence

The address, tenure, lease term, accommodation, guide, known buyer charge and one rental listing are supplied, but current valuation evidence, refurbishment scope and cost, lease documentation, service charges, parking, heating and possible seller fees are incomplete.