37 Thompson Lane, Chadderton, Oldham, OL9 8LX

Description

A three-bedroom terraced property, let to a longstanding tenant, located in a most convenient position in the popular town of Chadderton.

Accommodation

Ground Floor: Lounge, Kitchen. First Floor: Bedroom One, Bedroom Two, Bedroom Three, Bathroom. The property also has a small patio garden to the front and rear.

Location

Ideally placed for easy access to the centre of Chadderton, transport links including the M60 motorway network, and local schools.

Tenure / Property Information

Investment Analysis

Same-street leasehold terraced comparables range from £140,500 to £180,000, with one apparent low outlier at £53,000. The recent £145,000 sale provides a cautious base indication, but the subject’s condition and tenancy terms are not evidenced.

Investment Snapshot

Strategy Recommendation

Investigate as a tenanted buy-to-let opportunity, subject to verifying the passing rent, tenancy documentation, lease terms and property condition. Avoid bidding beyond a separately costed appraisal.

Works Required

No specific defects or works are evidenced. Inspection should establish condition, EPC requirements and any tenant-related repair obligations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £145,000 base GDV, 75% refinance equates to £108,750. Cash recycling cannot be calculated because refurbishment costs, actual rent, finance costs and total acquisition costs are not evidenced.

Buy-to-Let Analysis

The property is occupied by a longstanding tenant, but the passing rent is not supplied. The £933 pcm figure is an advertised asking rent for another Oldham location, so it is only a rough proxy. Against the £90,000 guide, this proxy indicates a 12.44% gross yield before fees and costs. Administration and search charges total at least £2,460 at the guide price, excluding other possible legal or seller-cost reimbursements.

Flip Analysis

The comparable evidence suggests resale potential above the guide, but refurbishment costs, selling costs, legal costs and the property’s condition are unknown. A reliable flip surplus or maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Passing rent and tenancy terms are not supplied.

• The rental figure is an advertised asking rent for another location, not achieved or property-specific.

• Property condition, EPC rating, heating and parking information are unavailable.

• Lease length, ground rent and service-charge details are not supplied.

• Additional legal, seller-cost and transfer-fee liabilities may apply under the legal pack.

• Comparable sales show a wide range, including a £53,000 low outlier.

Recommendation

Investigate as a tenanted buy-to-let opportunity, subject to verifying the passing rent, tenancy documentation, lease terms and property condition. Avoid bidding beyond a separately costed appraisal.

Strategy Rating

Analysis Confidence

There is useful same-street sold evidence and a guide price, but condition, lease details, passing rent, EPC, finance costs and full auction disbursements are missing.