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

Description

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

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 only directly matching completed sale is 36A High Street at £60,500 on 15 April 2008. Other supplied flat sales are also historic, from 2001–2008, so they do not support a reliable current GDV. The £50,000 guide is below the historic matching sale, but no current valuation conclusion can be established. The flat is vacant and requires refurbishment, with the scope and cost unspecified.

Investment Snapshot

Strategy Recommendation

Proceed only conditionally after reviewing the legal pack, confirming all leasehold charges and seller fees, inspecting the refurbishment requirement and validating achievable rent. The guide appears potentially attractive against the supplied asking rents, but the evidence is insufficient to set a safe bid or endorse a flip/BRRR strategy.

Works Required

Refurbishment is required, but the evidence does not specify the works. Obtain a full inspection and budget for the kitchen, shower room/WC, decoration, flooring and any other identified defects before bidding; these items must not be assumed to require replacement without inspection.

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, ground rent, seller fees and refinance terms are unavailable. The long lease is potentially supportive, but leasehold costs and any restrictions require confirmation from the legal pack.

Buy-to-Let Analysis

The supplied advertised asking rents are £695–£700 pcm, equivalent to £8,340–£8,400 annually. At the £50,000 guide, the gross yield is approximately 16.68%–16.80%, or 16.74% using the midpoint rent. This is based on asking rents rather than achieved rent and excludes refurbishment, service charge, ground rent, finance, management, voids, maintenance and other costs. Net yield and yield on total cost cannot be established.

Flip Analysis

A flip surplus cannot be calculated. The only matching completed sale is historic (£60,500 in 2008), while refurbishment costs and seller completion fees are unknown. Current resale value, selling costs and project duration therefore remain unquantified.

Investor Risks & Due Diligence

• Current market value cannot be supported from the supplied comparables because the closest matching sale is from 2008.

• Refurbishment is stated but its scope and cost are unknown.

• Annual service charge, ground rent and review details are unavailable.

• The seller may charge additional completion fees under the special conditions.

• Rental figures are advertised asking rents, not achieved or passing rents.

• Vacant possession creates letting, void and initial refurbishment risk.

• Parking arrangements are unconfirmed.

• Leasehold legal and management information requires review.

Recommendation

Proceed only conditionally after reviewing the legal pack, confirming all leasehold charges and seller fees, inspecting the refurbishment requirement and validating achievable rent. The guide appears potentially attractive against the supplied asking rents, but the evidence is insufficient to set a safe bid or endorse a flip/BRRR strategy.

Strategy Rating

Analysis Confidence

The property description, tenure, guide, historic matching sale and advertised rents are available, but current comparables, refurbishment costs, leasehold charges, seller fees, parking information and achieved rent evidence are missing.