4 Northcote, Whickham, Newcastle Upon Tyne, Tyne and Wear

Description

A 2 bedroom semi detached bungalow in need of refurbishment situated in the popular residential area of Whickham.

Accommodation

Ground floor: Entrance hall, living room, kitchen, 2 bedrooms, bathroom. Outside: Attached garage with driveway, gardens to front and rear.

Location

Located in a cul de sac just off Oakfield Road with good access to local shops and bus route. The A1 Western Bypass North/South bound and Metro Centre are a short distance away. Whickham village is a short distance away and has shops, pubs and restaurants, library, schools, medical, dentist and optician.

Tenure / Property Information

Investment Analysis

The property is a two-bedroom leasehold semi-detached bungalow requiring refurbishment. Supplied sold comparables on the same road range from £150,000 to £178,000 for sales dated 2014–2019, with no recent completed sales supplied. The £125,000 guide is below those historic prices, but current market value, refurbishment impact and GDV cannot be reliably established from the evidence provided.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining a survey, current valuation evidence, detailed refurbishment costs and full legal-pack review. On the supplied evidence, do not rely on a BTL, BRRR or flip margin and do not set a supported maximum bid.

Works Required

Refurbishment is required, but the supplied evidence does not specify the condition or scope. Obtain a survey and legal-pack information before budgeting for works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed because the current GDV, refurbishment cost, rent and refinance value are unsupported. The long stated lease term is potentially useful, but the full lease should be confirmed through the legal pack.

Buy-to-Let Analysis

No sufficiently specific rental evidence or auctioneer rent estimate is supplied, so rent, yield and BTL viability cannot be established. The £2,340 buyer premium would also need to be included in acquisition costs.

Flip Analysis

A flip assessment cannot be quantified. The available sold comparables are historic, dated 2014–2019, and no supported refurbishment budget or selling allowance is provided. Historic prices indicate context only and do not establish a current resale value.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unspecified.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• All supplied sold comparables are historic, with the latest sale dated 2019.

• The full lease terms require confirmation from the auction legal pack.

• Additional fees may be listed in the Special Conditions of Sale.

• The £2,340 buyer premium is payable in addition to the purchase price.

Recommendation

Proceed only after obtaining a survey, current valuation evidence, detailed refurbishment costs and full legal-pack review. On the supplied evidence, do not rely on a BTL, BRRR or flip margin and do not set a supported maximum bid.

Strategy Rating

Analysis Confidence

The evidence includes a guide price, historic same-road sales and lease headline terms, but lacks current valuation evidence, condition detail, refurbishment costs, rental evidence, EPC, council tax, heating information and full legal-pack details.