42 Poulton Road, Morecambe, Lancashire

Description

Tenanted Four Storey Six Bedroom House. The property provides accommodation over four floors plus cellar and comprises open plan living area providing lounge and dining space, kitchen, to the first floor are two bedrooms and a wc/utility space. To the second floor are two bedrooms and family bathroom. To the third floor are two more bedrooms. Externally, there is an enclosed terraced rear yard.

Accommodation

Accommodation over four floors plus cellar; open plan living area with lounge and dining space, kitchen, two first-floor bedrooms and WC/utility space, two second-floor bedrooms and family bathroom, and two third-floor bedrooms. Enclosed terraced rear yard.

Location

Located on Poulton Road in the heart of the Poulton district of Morecambe, with good access to the town centre, shops and amenities including a library and railway station. Nearby facilities include a health centre, schools, the sea front and promenade.

Tenure / Property Information

Investment Analysis

The five supplied freehold terraced sales on Poulton Road range from £105,000 to £150,000, with the central evidence around £120,000. The same property previously sold for £150,000 in November 2022, but no current condition, EPC or tenancy-adjustment evidence is supplied. A cautious base GDV of £120,000 is used, with £105,000 low and £150,000 high scenarios. This is an evidence-based estimate, not a formal valuation.

Investment Snapshot

Strategy Recommendation

Consider only as a cautious income-led hold subject to legal-pack review, tenancy verification, inspection and confirmation of all auction fees. Do not rely on a refurbishment or flip strategy without condition and cost evidence.

Works Required

No specific refurbishment works or defects are evidenced. Obtain inspection, EPC information and the legal pack before budgeting any works; the current analysis therefore includes no refurbishment allowance.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £110,000 guide, the known purchase cost including the 2.75% administration charge is £113,025 before unknown auction costs and any works. A 75% refinance of the £120,000 base GDV is £90,000, leaving an indicative £23,025 still invested before finance, tax and unquantified costs. The absence of condition and refurbishment evidence makes a value-added refinance case unproven.

Buy-to-Let Analysis

The current tenant is paying £650pcm, equating to £7,800 annually. This produces a 7.09% gross yield on the £110,000 guide and 6.90% on the guide plus the known 2.75% administration charge. The calculation excludes the unknown buyer premium, disbursements, other legal fees, finance, maintenance, management, insurance and voids. The tenancy terms and rent sustainability are not supplied.

Flip Analysis

Using the £120,000 base GDV against the £113,025 guide-plus-known-admin cost leaves £6,975 before refurbishment, selling costs, finance, tax, buyer premium and other disbursements. No supported works budget or selling allowance is available, so a reliable flip surplus and maximum bid cannot be established.

Investor Risks & Due Diligence

• Buyer premium, disbursements and possible seller or legal fees are unknown and excluded from the base cost.

• The EPC rating is TBC and heating and parking details are not supplied.

• No inspection or condition information is provided, so refurbishment and maintenance costs cannot be estimated.

• Tenancy terms, deposit position, compliance records and rent review arrangements are not supplied.

• The £650pcm rent is the current passing rent, but no sufficiently specific external rental evidence supports its market level.

• The comparable sales do not provide bedroom count, condition or tenancy details, limiting precise GDV adjustment.

Recommendation

Consider only as a cautious income-led hold subject to legal-pack review, tenancy verification, inspection and confirmation of all auction fees. Do not rely on a refurbishment or flip strategy without condition and cost evidence.

Strategy Rating

Analysis Confidence

There is useful same-road completed-sale evidence, a current rent and known administration charge, but no condition, EPC, buyer-premium, disbursement, tenancy-term or refurbishment-cost evidence.