5 Leckhampton Road, Blackpool

Description

A terrace house requiring modernisation with accommodation arranged on two floors, with a yard at the rear.

Accommodation

First Floor: Bedroom (One), Bedroom (Two), Bedroom (Three), Shower Room/WC. Ground Floor: Entrance Hall, Living Room, Dining Room, Kitchen. Yard at Rear.

Location

Situated on Leckhampton Road, close to the amenities available in Blackpool Town Centre and travelling facilities including Blackpool North and Layton Train Stations. Claremont Park is also nearby.

Tenure / Property Information

Investment Analysis

The closest supplied evidence is 7 Leckhampton Road, a terraced freehold property, which sold for £60,000 in 2023 and £80,000 in 2023. The £123,000 and £150,000 sales were semi-detached and are less directly comparable. A base GDV of £80,000 is therefore used, with a cautious evidence-supported range of £60,000–£80,000. The subject requires modernisation, but the condition of the comparables is not supplied.

Investment Snapshot

Strategy Recommendation

Potential value-add purchase, but only proceed after confirming condition, refurbishment costs, achievable rent and any special-condition fees. The low guide is attractive against the closest £60,000–£80,000 terraced comparables, but the financial outcome remains highly assumption-sensitive.

Works Required

Modernisation is required according to the description, but no detailed defects or scope are provided. Obtain a survey and contractor quotations before bidding; the works allowance cannot be reliably quantified from the evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £80,000 base GDV, a 75% refinance would be approximately £60,000. The guide plus the known £1,500 buyer premium is £31,500 before modernisation and any seller fees, but refurbishment costs are unavailable. Cash left in and equity cannot therefore be calculated reliably.

Buy-to-Let Analysis

The supplied advertised asking rents range from £575 to £1,190 pcm for three-bedroom houses in FY1, producing an indicative gross rent range of £6,900–£14,280 per year. At the £30,000 guide alone, this equates to approximately 23.0%–47.6% gross yield, before the £1,500 buyer premium, modernisation, finance, voids and operating costs. The wide rental spread and lack of achieved-rent evidence mean a reliable BTL yield cannot be established.

Flip Analysis

The evidence-supported base GDV is £80,000, against a £30,000 guide and £1,500 buyer premium before works and other costs. A flip surplus cannot be calculated because no refurbishment allowance, selling allowance or detailed resale-cost evidence is supplied. The comparable range also includes less comparable semi-detached properties.

Investor Risks & Due Diligence

• Refurbishment scope and cost are unknown despite the property requiring modernisation.

• Rental evidence is advertised asking rent rather than achieved rent and ranges widely from £575 to £1,190 pcm.

• The strongest same-street terraced sales are £60,000 and £80,000, while higher sales supplied are semi-detached and less comparable.

• Additional seller fees may apply under the special conditions of sale.

• The property is vacant, so there is no passing-rent evidence or established tenancy income.

Recommendation

Potential value-add purchase, but only proceed after confirming condition, refurbishment costs, achievable rent and any special-condition fees. The low guide is attractive against the closest £60,000–£80,000 terraced comparables, but the financial outcome remains highly assumption-sensitive.

Strategy Rating

Analysis Confidence

The property type, tenure, vacancy, guide, buyer premium, local sold evidence and advertised rents are supplied, but refurbishment costs, achieved rent, detailed condition, selling costs and any seller fees are unavailable. The strongest comparables are also limited in number and dated.