37 Hollinhurst Road, Radcliffe, Manchester

Description

A Semi-Detached House requiring modernisation with accommodation arranged on Two Floors comprising: First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three). Ground Floor: Entrance Porch, Entrance Hall, Living Room, Kitchen, Utility Room, Shower (not fitted), WC. Front Garden. Garden at Rear.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three). Ground Floor: Entrance Porch, Entrance Hall, Living Room, Kitchen, Utility Room, Shower (not fitted), WC. Front Garden. Garden at Rear.

Location

Situated off Stand Lane, close to the amenities available in Whitefield Town Centre. Springwater Park is also nearby.

Tenure / Property Information

Investment Analysis

The strongest supplied comparable is 29 Hollinhurst Road at £150,000 in April 2022, with the same property having sold for £115,500 in December 2018. Other supplied same-road sales are older and lower. A base GDV of £150,000 is therefore used, but this is not a current formal valuation and no condition-adjusted or recent comparable evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only subject to a full inspection, verified refurbishment quotation and review of special conditions. The low guide relative to the supplied same-road sales suggests refurbishment-led resale or refinance potential, but the evidence is insufficient to set a maximum bid.

Works Required

Modernisation is required. The supplied description identifies a kitchen, utility room, living room and bathroom/shower provision, including a shower that is not fitted. The exact scope and cost of works cannot be established from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £50,000 guide plus the £1,500 buyer premium, the entry price is materially below the supplied £150,000 2022 same-road comparable. However, refurbishment costs, finance costs, other seller charges and the achievable refinance valuation are unknown. On the base GDV, 75% refinance is £112,500, but cash left in cannot be calculated without a supported total project cost.

Buy-to-Let Analysis

The only rental evidence is an advertised £1,200 pcm for a three-bedroom semi-detached house in Oldham, not Radcliffe, and is not an achieved rent. If used illustratively against the £50,000 guide, the gross yield is 28.8%, before refurbishment, finance, buyer costs, voids and operating expenses. A reliable property-specific BTL yield cannot be established.

Flip Analysis

The supplied evidence indicates potential gross value uplift between the £50,000 guide and the £150,000 base GDV. A flip surplus cannot be calculated because refurbishment costs, selling costs and any applicable additional seller fees are not supplied. The 2022 comparable may not reflect current market value or this property's condition.

Investor Risks & Due Diligence

• The property requires modernisation, but no detailed schedule or refurbishment cost estimate is supplied.

• The strongest comparable is from April 2022 and may not represent current market value.

• The rental evidence is an advertised asking rent for Oldham rather than an achieved Radcliffe rent.

• The seller may charge additional fees under the special conditions, but no amount is supplied.

• The shower is described as not fitted, and the full bathroom and services condition are not evidenced.

• A maximum bid cannot be calculated without supported works and project costs.

Recommendation

Proceed only subject to a full inspection, verified refurbishment quotation and review of special conditions. The low guide relative to the supplied same-road sales suggests refurbishment-led resale or refinance potential, but the evidence is insufficient to set a maximum bid.

Strategy Rating

Analysis Confidence

The property description, tenure, vacant possession, guide, buyer premium and several same-road sold comparables are supplied. However, the comparables are dated, refurbishment costs and condition detail are absent, rental evidence is from a different town, and additional seller charges are unknown.