5 Derwent Court, Cockermouth, Cumbria

Description

A two bedroomed ground floor flat situated near the town centre. Ideal for retirement purposes it comprises hall, sitting room, kitchen, two bedrooms, bathroom and parking space.

Accommodation

Hall; Sitting Room 13'6 x 13'; Kitchen 9'3 x 7'3; Bedroom 13'6 x 9'; Bedroom 10'9 x 7'9; Shower room 7'3 x 6'6

Location

Situated near the town centre.

Tenure / Property Information

Investment Analysis

HM Land Registry comparables within Derwent Court range from £77,500 to £115,000. The most recent supplied sale was £85,000 in September 2023. A base GDV of £85,000 is used, with a low scenario of £77,500 and high scenario of £109,000 based on the supplied evidence. Differences in condition, floor, specification, lease terms and sale circumstances are not provided.

Investment Snapshot

Strategy Recommendation

Do not commit to a BTL, BRRR or flip strategy until the legal pack, lease terms, charges, condition, total acquisition costs and achievable rent are verified. The guide price appears below supplied same-development sales, but the evidence is incomplete.

Works Required

No refurbishment works are identified in the supplied description. Allow for inspection and legal-pack review; any works, compliance items or lease-related costs remain unquantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £50,000 guide as the purchase figure, the known admin charge would be £1,500 because 1.2% is below the stated minimum. At the £85,000 base GDV, 75% refinance is £63,750. Total project cost and cash left in cannot be calculated because refurbishment, buyer premium, disbursements and other costs are unknown.

Buy-to-Let Analysis

BTL cannot be underwritten because no sufficiently specific rental comparable, auctioneer rent estimate, council tax, service-charge or lease-cost information is supplied. Gross yield is therefore unavailable. The unspecified buyer premium, disbursements and legal-pack costs also affect the investment case.

Flip Analysis

The supplied same-development sales support a base GDV of £85,000, but no refurbishment budget, buyer premium, full acquisition costs or supported selling allowance is available. A reliable resale surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Tenure and lease terms are only stated as being in the legal pack.

• Buyer premium amount is unspecified.

• Disbursements, search fees, seller-cost reimbursements, legal fees and transfer fees may be payable but are unquantified.

• No sufficiently specific rental evidence is supplied.

• Condition and any required works are not evidenced.

• Comparable sales vary materially in price and their condition, specification and sale circumstances are unknown.

• Service charges, ground rent and remaining lease length are not supplied.

Recommendation

Do not commit to a BTL, BRRR or flip strategy until the legal pack, lease terms, charges, condition, total acquisition costs and achievable rent are verified. The guide price appears below supplied same-development sales, but the evidence is incomplete.

Strategy Rating

Analysis Confidence

There are several relevant completed sales in the same development, including a recent £85,000 sale, but tenure details, lease terms, condition, rent, service charges and several purchase costs are unavailable.