378, Burnley Road, COLNE, Lancashire, BB8 8LF

Description

Freehold semi-detached house

Accommodation

First floor: Two bedrooms, bathroom/wc. Ground floor: Reception room, kitchen/diner. Outside: Garden.

Location

The property is located on Burnley Road (A56). Shopping amenities are available within Colne Town Centre lying to the north east and within Nelson Town Centre located to the south west. Public transport links can be found at Colne Train Station and Nelson Train Station along with a network of local bus services serving the surrounding areas. The property is served by road links including the A56 and the M65 lying to the west. Recreational pursuits available locally.

Tenure / Property Information

Investment Analysis

The evidence supports a broad indicative GDV range of £84,000–£106,000, based on two directly comparable semi-detached sales on the same road at 374 and 376 Burnley Road. A midpoint base GDV of £95,000 is used, although the comparables are from 2022 and 2023 and may not fully reflect the subject property's condition. The £91,000 guide is close to the lower-middle of this evidence range.

Investment Snapshot

Strategy Recommendation

Proceed only if inspection confirms limited works and the rent is achievable. The evidence supports a potential income-led hold more than a flip or BRRR project, but the weak rental evidence and unknown costs require conservative bidding.

Works Required

No specific defects or refurbishment requirements are evidenced. Confirm condition, heating, parking, and any works required before bidding. EPC rating E should be reviewed for potential improvement requirements, but no cost allowance is supported by the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a base GDV of £95,000, 75% refinance is approximately £71,250. This is below the £91,000 guide before the £1,800 contract documentation fee, any works, seller charges, finance costs and tax. On the available figures, a BRRR strategy would require substantial retained capital and cannot be fully modelled without refurbishment and transaction-cost evidence.

Buy-to-Let Analysis

The available rental evidence indicates an advertised asking rent of £675 pcm, producing £8,100 gross annual rent. Against the £91,000 guide this is approximately an 8.9% gross yield before finance, management, maintenance, voids, tax, insurance and acquisition costs. The rental evidence is limited and is not confirmed for this exact property; no passing rent is supplied.

Flip Analysis

A base GDV of £95,000 provides only £4,000 above the £91,000 guide before the £1,800 documentation fee, works, selling costs, finance, tax and any seller charges. No supported refurbishment budget or selling allowance is available, so a reliable flip surplus cannot be calculated. The margin appears tight at the guide.

Investor Risks & Due Diligence

• Property condition and required works are not supplied; EPC rating is E.

• Parking and heating details are unconfirmed.

• The £675 pcm rental evidence is advertised asking rent and is not confirmed for this property.

• The £1,800 contract documentation fee is payable, with possible additional seller charges under the Special Conditions of Sale.

• The direct comparable sales are from 2022 and 2023 and show a relatively wide £84,000–£106,000 range.

• The property is located on Burnley Road (A56), but no evidence is supplied regarding any effect on desirability or value.

Recommendation

Proceed only if inspection confirms limited works and the rent is achievable. The evidence supports a potential income-led hold more than a flip or BRRR project, but the weak rental evidence and unknown costs require conservative bidding.

Strategy Rating

Analysis Confidence

There are two relevant same-road sales and limited rental evidence, but no property condition detail, refurbishment budget, buyer premium, seller charges, finance costs, confirmed parking/heating information or exact-property rent evidence.