36a, High Street, Nuneaton, Warwickshire

Description

Long leasehold self-contained flat requiring refurbishment. Full vacant possession.

Accommodation

Unit 36a, first floor. 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 locally 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 sold evidence is 36A High Street, recorded at £60,500 on 15 April 2008. This is historic and cannot reliably establish a current GDV. The £50,000 guide is an auction guide, not a valuation. Current service charge, ground rent, lease information, refurbishment cost and applicable seller fees are unknown.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, confirming leasehold charges and seller fees, inspecting the flat and obtaining a current valuation and refurbishment quotations.

Works Required

Refurbishment is required, but the supplied evidence does not identify the specific defects, required trades or scope. Obtain a full inspection and contractor quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because there is no supported current or post-refurbishment GDV, no refurbishment budget, no reliable rent and no confirmed leasehold cost information. The 2008 same-address sale is too historic to support a refinance value.

Buy-to-Let Analysis

BTL viability cannot be quantified. The only rental evidence is an advertised £3,900 pcm figure for self-contained studios, which is not sufficiently comparable to this one-bedroom flat and is not an achieved rent. Service charge, ground rent, refurbishment cost and any other ownership costs are also unknown.

Flip Analysis

A flip surplus cannot be calculated. The historic same-address sale at £60,500 in 2008 does not establish current resale value, while refurbishment costs and selling allowances are unsupported.

Investor Risks & Due Diligence

• Current service charge and ground rent are unknown.

• Lease information is awaited and requires legal-pack review.

• The refurbishment scope and cost are unknown.

• The £3,900 pcm rental evidence relates to advertised studio listings and is not directly comparable to this one-bedroom flat.

• Potential seller fees are unknown.

• The directly matching sold comparable dates from 2008 and may not reflect current value.

• Parking and heating information are unconfirmed.

Recommendation

Do not bid on the current evidence alone. Proceed only after reviewing the legal pack, confirming leasehold charges and seller fees, inspecting the flat and obtaining a current valuation and refurbishment quotations.

Strategy Rating

Analysis Confidence

Evidence includes a guide price, a long lease description and historic sold data, but lacks current comparable sales, reliable comparable rent, refurbishment costs, leasehold charges and complete fee information.