5, St. Christophers Walk, Wakefield, West Yorkshire

Description

Long leasehold first floor self-contained flat. Full vacant possession. Gross Internal Area GIA: approximately 69 sq m (748 sq ft).

Accommodation

First floor: Two bedrooms, reception room, kitchen, shower room/WC and hallway.

Location

Situated on St Christophers Walk, off Balne Lane between its junctions with Bell Street and Sandy Walk. Nearby transport includes Wakefield Westgate Mainline Rail Station and local bus services. Road links include the A61 and M1 junctions 39 and 40. Local amenities include Wakefield City Centre, The Ridings Shopping Centre, Thornes Park, Clarence Park and Pugneys Country Park.

Tenure / Property Information

Investment Analysis

Five completed sales on St Christophers Walk range from £125,000 to £148,000, with four sales between £130,000 and £148,000. A base GDV of £145,000 is supported by the strongest recent same-location evidence, subject to confirmation that the comparables are comparable in size, condition, floor and lease terms. The guide price represents a substantial discount, but service charge, ground rent, condition and any seller fees remain unknown.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR purchase at a competitive auction price, subject to confirming lease charges, condition, heating, title and achieved local rent. Do not rely on the headline GDV or upper rent evidence without comparability and valuation checks.

Works Required

No condition survey or specific defects are supplied, so refurbishment works and costs cannot be reliably estimated. Inspection should confirm the condition of the kitchen, shower room, finishes, services, heating, windows and communal areas before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £70,000 guide plus the known £1,800 documentation fee, the evidenced base cost is £71,800 before works and other seller or acquisition costs. Using a £145,000 base GDV, 75% refinancing equates to £108,750, indicating £36,950 more than the evidenced base cost before finance, tax, works and unprovided fees. This is only indicative because condition, lease costs, lender valuation, service charge, ground rent and full auction costs are unknown.

Buy-to-Let Analysis

The supplied advertised two-bedroom rents range from £550 to £1,050 pcm, producing a gross rent range of £6,600 to £12,600 annually. On the £70,000 guide, the gross yield range is approximately 9.43% to 18.00%; including the known £1,800 documentation fee, it is approximately 9.19% to 17.55%. These are asking rents, not achieved rents, and the range is unusually wide. Service charge, ground rent, finance, management, maintenance and voids are unknown, so net yield cannot be established.

Flip Analysis

The completed sales support a £130,000 to £148,000 evidence range and a £145,000 base GDV. Against the £71,800 guide-plus-known-fee cost, there appears to be a substantial gross margin before works, selling costs, finance, tax and any seller fees. A reliable flip surplus cannot be calculated because no refurbishment budget or selling-cost allowance is supported by the evidence.

Investor Risks & Due Diligence

• Annual service charge, ground rent, review terms and any arrears are not supplied.

• Property condition and refurbishment requirements are unknown.

• The rental figures are advertised asking rents rather than achieved rents and vary materially from £550 to £1,050 pcm.

• Additional seller fees may be payable under the Special Conditions of Sale.

• Lease length is stated inconsistently as approximately 126 years remaining and 125 years at auction.

• Finance, lender valuation, management, maintenance, void and taxation costs are not included.

• Comparable sale specifications, condition and lease terms are not provided.

Recommendation

Potential BTL or BRRR purchase at a competitive auction price, subject to confirming lease charges, condition, heating, title and achieved local rent. Do not rely on the headline GDV or upper rent evidence without comparability and valuation checks.

Strategy Rating

Analysis Confidence

The analysis has five same-location completed sales, four rental asking rents, a known guide price and a known documentation fee. Confidence is reduced by missing condition, service charge, ground rent, heating, seller fees, exact comparable specifications and achieved rent evidence.