38 Cecil Street, Worsley, Manchester

Description

Situated off Bolton Road, close to local shopping/travelling facilities including Walkden Train Station. Blackleach Country Park is also nearby. A Terrace House requiring modernisation with accommodation arranged on Two Floors comprising: First Floor: Three Rooms; Shower/WC. Ground Floor: Entrance Porch; Living Room; Kitchen. Yard at Rear.

Accommodation

Two floors. First Floor: Three Rooms, Shower/WC. Ground Floor: Entrance Porch, Living Room, Kitchen. Yard at Rear.

Location

Situated off Bolton Road, close to local shopping/travelling facilities including Walkden Train Station. Blackleach Country Park is also nearby.

Tenure / Property Information

Investment Analysis

Same-street HM Land Registry comparables range from £81,500 to £94,400 between 2016 and 2020, with a further £99,950 sale in 2017. The £94,400 2020 sale is used as the base GDV proxy, but the evidence is dated and does not confirm identical size, layout or condition. The subject requires modernisation, so the figures are indicative only.

Investment Snapshot

Strategy Recommendation

Proceed only subject to inspection and a detailed refurbishment budget. The low guide relative to historic same-street sales may offer value, but the missing condition, size, rent and total project-cost evidence makes the deal unsuitable for an unverified maximum bid.

Works Required

Modernisation of the existing two-floor accommodation, including the living room, kitchen, three first-floor rooms, shower/WC and rear yard. The evidence does not provide sufficient detail to specify or cost individual works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £40,000 guide, the known purchase price plus the £1,500 buyer premium is £41,500 before refurbishment and any seller-charged fees. A 75% refinance against the indicative £94,400 base GDV would be £70,800, but unknown works, finance costs, taxes and other completion costs prevent a reliable cash-left-in calculation.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is provided, so rent and gross yield cannot be established. The vacant possession status also means there is no passing rent.

Flip Analysis

The evidence indicates an indicative base resale value of £94,400, with an evidence range of £81,500 to £99,950. A flip surplus cannot be calculated because refurbishment costs, selling costs and any applicable seller fees are not supplied.

Investor Risks & Due Diligence

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

• Bedroom count, floor area, heating, parking and EPC status are not confirmed.

• No sufficiently specific rental evidence is available, preventing BTL yield analysis.

• The comparable sales are dated from 2016 to 2020 and may not reflect current market value.

• The seller may charge additional completion fees under the special conditions of sale.

• The property is vacant, so there is no existing rental income.

Recommendation

Proceed only subject to inspection and a detailed refurbishment budget. The low guide relative to historic same-street sales may offer value, but the missing condition, size, rent and total project-cost evidence makes the deal unsuitable for an unverified maximum bid.

Strategy Rating

Analysis Confidence

Same-street completed sales and the guide price are available, but the sales are dated, property particulars are incomplete, and there is no rental, refurbishment-cost or current valuation evidence.