37 Promenade Street, Heywood

Description

A terrace house requiring modernisation.

Accommodation

Top Floor: Loft Room. First Floor: Two Rooms; Bathroom/WC. Ground Floor: Entrance Porch; Living Room; Kitchen/Diner; Conservatory; WC. Garden at rear.

Location

Situated on Promenade Street, close to the amenities available in Heywood Town Centre and travelling facilities including Castleton Train Station. Queens Park is also nearby.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £95,000 to £126,500. The £126,500 sale on Promenade Street dated 17 October 2025 is the most recent evidence, while the subject requires modernisation and its bedroom count is not supplied. A broad evidence-based GDV range is therefore £95,000–£126,500, with £119,500 used as a provisional base case rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Potentially attractive at the guide for a refurbishment-led BTL or BRRR project, but do not bid without verifying the bedroom layout, obtaining a refurbishment budget and reviewing the special conditions for additional seller fees.

Works Required

Modernisation of the house as required by the description. The supplied evidence does not identify specific defects, finishes, services or structural works, so no detailed scope or cost can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £40,000 guide plus the £1,500 buyer premium, the known acquisition outlay is £41,500 before works and any seller charges. A 75% refinance of the provisional £119,500 base GDV is £89,625, but cash left in cannot be calculated because refurbishment costs, other applicable fees and finance costs are unsupported.

Buy-to-Let Analysis

The supplied asking-rent evidence is £950 pcm for a 3-bed house and £1,201 pcm for a 2-bed house. The subject's bedroom count is not stated, so a property-specific rent and definitive yield cannot be established. Against the £40,000 guide alone, the indicated gross yield range would be approximately 28.50%–36.03%, before refurbishment, premium, finance, tax and other costs.

Flip Analysis

The comparable evidence supports a broad provisional GDV range of £95,000–£126,500. A flip surplus cannot be calculated because refurbishment costs and any selling allowance are not supplied. The subject's modernisation requirement also makes the comparable condition uncertain.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but no detailed condition report or works budget is provided.

• The bedroom count is blank, making the rental evidence difficult to match to the subject.

• Rental figures are advertised asking rents rather than achieved rents.

• The comparable properties may differ in condition, accommodation and specification from the subject.

• The seller may charge additional completion fees, but the amount is not supplied.

• Leasehold ownership is stated; although approximately 885 years are reported unexpired, other lease terms and charges are not supplied.

Recommendation

Potentially attractive at the guide for a refurbishment-led BTL or BRRR project, but do not bid without verifying the bedroom layout, obtaining a refurbishment budget and reviewing the special conditions for additional seller fees.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and two local asking-rent indicators, but the subject's bedroom count, condition detail, refurbishment cost, parking/heating information and possible additional fees are not supplied.