45A Boroughgate, Appleby-In-Westmorland, Cumbria CA16 6XG

Description

A two bedroom first floor apartment conveniently situated close to the amenities of the market town of Appleby. Offering spacious accommodation including two double bedrooms, living room, kitchen, bathroom and offering a low maintenance gravelled area to the front.

Accommodation

Ground floor: Entrance porch. First floor: Kitchen - 3.57m x 2.9m; Living room - 5.56m x 3.26m; Bedroom - 5.65m x 3.79m; Bedroom - 3.88m x 3.66m; Bathroom. External: Gravelled area to the front.

Location

Conveniently situated close to the amenities of the market town of Appleby.

Tenure / Property Information

Investment Analysis

Indicative GDV of £170,000 is based on the 2022 sale of 33 Boroughgate, a leasehold flat/maisonette. This is not a direct sale of the subject property; the older £80,000 sale of 45B provides a lower, less current reference point. Legal pack, tenure and condition remain important valuation uncertainties.

Investment Snapshot

Strategy Recommendation

Proceed only subject to satisfactory legal-pack, tenure, lease, condition and cost due diligence. The guide appears potentially attractive against the indicative comparable, but the evidence is insufficient for a firm investment or resale commitment.

Works Required

No specific defects or refurbishment requirements are stated. Allow for inspection, compliance checks and any decoration or repairs identified, but no reliable works budget can be calculated from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, the known minimum administration charge is £1,500, but refurbishment, legal, special-condition and other purchase costs are unknown. A 75% refinance of the indicative £170,000 GDV is £127,500, but cash left in cannot be calculated reliably without total project costs and confirmed valuation.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £477 pcm for a two-bedroom property in Long Marton, not an achieved rent for this apartment. Applied to the £75,000 guide, this indicates approximately 7.63% gross yield before fees, finance, maintenance, service charges and voids. Actual rent and lease restrictions require verification.

Flip Analysis

The indicative £170,000 GDV is supported by one 2022 nearby comparable, but no selling costs, works budget or legal-pack liabilities are available. A reliable flip surplus and maximum bid cannot therefore be established.

Investor Risks & Due Diligence

• Tenure and lease terms are not provided.

• The rental evidence is an advertised asking rent for a different location, not achieved rent for the subject apartment.

• Condition and refurbishment costs are not evidenced.

• Special-condition, legal, search, transfer and other auction costs may apply.

• The indicative GDV relies primarily on one nearby comparable that is not the subject property.

Recommendation

Proceed only subject to satisfactory legal-pack, tenure, lease, condition and cost due diligence. The guide appears potentially attractive against the indicative comparable, but the evidence is insufficient for a firm investment or resale commitment.

Strategy Rating

Analysis Confidence

There is one relatively recent nearby comparable and one asking-rent reference, but no confirmed tenure, lease terms, condition budget, service charges, occupancy, or full purchase costs.