38 Bull Green, Halifax, West Yorkshire, HX1 5AB

Description

Opportunity to acquire a substantial freehold mixed-use property prominently positioned on a corner plot at 38 Bull Green, Halifax. The property includes a shop and two separate flats. Flat 2 is a three-bedroom flat currently rented for £8,400 p.a. The corner shop is an ethnic food shop rented for £9,000 p.a. There is no VAT due on this investment. The listing states a 12% yield based on the guide price.

Accommodation

The property includes a shop and two separate flats. Flat 2 is a three-bedroom flat with a living area and kitchen with storage and workspace. The shop is fully fitted with retail space, shelving, storage areas, a service counter and large display windows.

Location

Prominent corner position at 38 Bull Green, Halifax, close to Halifax town centre. The area has nearby shops, schools, local amenities, excellent transport links, high footfall and a busy commercial environment.

Tenure / Property Information

Investment Analysis

The later stated guide is £140,000, although £150,000 was also given earlier. The property is fully let and the evidenced annual income is £18,650 before considering the shop management fee. This indicates a gross yield of approximately 13.32% at £140,000 or 12.43% at £150,000, broadly consistent with the listing’s stated 12% yield. No completed-sale comparables, formal valuation, buyer premium amount, or refurbishment evidence is supplied, so GDV and a supported maximum bid cannot be established.

Investment Snapshot

Strategy Recommendation

Consider as an income-hold purchase subject to verifying all leases, rent receipts, the Flat 1 long leasehold and the full buyer premium. Do not rely on a BRRR or flip strategy without valuation and cost evidence.

Works Required

No refurbishment works or defects are evidenced. The immediate requirement is inspection and verification of the shop, flats, leases, rent schedule, services and statutory compliance rather than budgeting for unsupported works.

Rental & Market Context

Potential BRRR Position

A BRRR strategy cannot be reliably underwritten because no refurbishment budget, GDV evidence or refinance terms are supplied. The property is already fully let, so the evidenced case is primarily income-led rather than a value-add refinance project.

Buy-to-Let Analysis

The evidenced annual rent is £8,400 from Flat 2, £9,000 from the shop and £1,250 from Flat 1’s long-leasehold arrangement, totalling £18,650 before any costs. At the later £140,000 guide this is approximately a 13.32% gross yield, before finance, maintenance, voids, management, insurance, tax and the unspecified buyer premium. The shop also pays a 3% management fee, but this has not been included in annual rent. Tenancy and lease documentation should be verified, including the shop rent review dated 01/05/26 and lease expiry in 2029.

Flip Analysis

A flip analysis is unsupported because no comparable sales, GDV, refurbishment allowance or selling-cost allowance is provided. The existing tenancies and shop lease would also need to be considered before any resale strategy.

Investor Risks & Due Diligence

• Guide price is stated as both £150,000 and £140,000.

• Buyer’s Premium applies but its amount is not supplied, preventing a complete acquisition-cost calculation.

• Flat 1 is held on a long leasehold while only the freehold is sold, so the lease terms and income entitlement require verification.

• The shop lease runs only until 2029 and has a rent review dated 01/05/26; the reviewed rent and lease renewal position are not confirmed.

• The stated shop rent varies between £9,000 and £9,500 depending on lease year, creating uncertainty over current passing income.

• No external rental comparables, completed-sale comparables, formal valuation or refurbishment assessment is supplied.

• Gross yield is before operating costs, finance, tax, voids, maintenance and other ownership expenses.

Recommendation

Consider as an income-hold purchase subject to verifying all leases, rent receipts, the Flat 1 long leasehold and the full buyer premium. Do not rely on a BRRR or flip strategy without valuation and cost evidence.

Strategy Rating

Analysis Confidence

Current income and tenure information is supplied, but the guide price is inconsistent, the buyer premium is unspecified, and there are no comparable sales, formal valuation, refurbishment costs, EPC details or external rental comparables.