44 Grosvenor Crescent, Oadby, Leicester

Description

A bay fronted, three bedroom, semi detached house in a highly desirable location. The property requires modernisation but offers scope for extension to side and rear, subject to planning, and will make a superb family home. Benefitting from gas central heating, majority uPVC double glazing, driveway and garage. Sunny aspect rear garden and views over Leicester Racecourse. Offered freehold and with vacant possession.

Accommodation

Porch; reception hallway; lounge measuring 3.90m x 3.66m; dining room measuring 3.85m x 3.64m; kitchen measuring 2.63m x 2.13m; landing; bedroom one measuring 3.88m x 3.65m; bedroom two measuring 3.64m x 3.32m; bedroom three measuring 2.41m x 2.10m; bathroom; front gardens with flower beds; driveway; side garage with toilet; enclosed rear garden with lawn and shrubs.

Location

Highly desirable location with views over Leicester Racecourse.

Tenure / Property Information

Investment Analysis

The five supplied same-street semi-detached freehold sales range from £240,000 to £336,000. The three most recent sales range from £285,000 to £336,000, with an average of approximately £313,667. Allowing for the subject property requiring modernisation, a base GDV of £320,000 is supportable from the recent evidence, but the condition of the comparables is not supplied.

Investment Snapshot

Strategy Recommendation

Potential owner-occupier or value-add purchase, subject to a full inspection and an independently costed modernisation schedule. Do not rely on the suggested extension or proceed at a price that leaves insufficient allowance for unknown works and auction costs.

Works Required

Modernise the existing three-bedroom accommodation, including kitchen, bathroom, decoration and any necessary repairs identified by inspection. Retain or assess the existing gas central heating, majority uPVC double glazing, driveway, garage and gardens. Any side or rear extension remains subject to planning and is excluded from the financial analysis.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV of £320,000, a 75% refinance would be £240,000. At the £200,000 guide, the 3.6% buyer premium is £7,200, giving £207,200 before works and any special-condition fees. Because refurbishment costs and total project costs are unsupported, cash left in and equity cannot be established.

Buy-to-Let Analysis

BTL analysis cannot be established reliably. The only supplied rent of £1,900 pcm is an advertised asking rent for a Thame listing, not an achieved Oadby rent, and no local rental evidence is supplied. Works, finance, operating costs and EPC information are also unavailable.

Flip Analysis

Using the base GDV, £320,000 less the £200,000 guide and £7,200 buyer premium leaves £112,800 before refurbishment, finance, selling costs and any special-condition fees. A reliable flip surplus cannot be calculated because no refurbishment or selling-cost allowances are supplied.

Investor Risks & Due Diligence

• The property requires modernisation, but the scope and cost of works are unknown.

• The proposed side and rear extension is subject to planning and has not been included in the GDV or cost analysis.

• The £1,900 pcm rental evidence relates to Thame and is only an advertised asking rent, so it does not establish Oadby rental value.

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

• The condition and specification of the sold comparables are not supplied, limiting the precision of the GDV assessment.

Recommendation

Potential owner-occupier or value-add purchase, subject to a full inspection and an independently costed modernisation schedule. Do not rely on the suggested extension or proceed at a price that leaves insufficient allowance for unknown works and auction costs.

Strategy Rating

Analysis Confidence

There is useful same-street completed-sale evidence and a stated guide price, but refurbishment costs, comparable condition, local achieved rents, EPC, council tax, selling costs and special-condition fees are not supplied.