53-55 North Parade, Bradford, West Yorkshire

Description

The property comprises a high yielding retail investment occupying a prominent pitch. Arranged as a ground floor shop with vacant ancillary upper parts. The property offers asset management potential to increase rent roll by letting the vacant upper parts.

Accommodation

Ground floor shop with vacant ancillary upper parts. Approximate areas have been provided by the VOA/Vendor/EPC; the property has not been internally inspected by Savills.

Location

Occupying a prominent pitch.

Tenure / Property Information

Investment Analysis

The £75,000 guide is not a formal valuation. The only supplied comparables relate to 33 North Parade rather than 53-55 North Parade, are dated 2019, classified as “Other”, and show materially different prices of £125,000 and £225,000. They do not provide reliable evidence of market value for this property. No rent, internal inspection, floor areas, upper-parts condition or buyer/admin fee is supplied, so GDV, refurbishment cost, yield and maximum bid cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Do not commit at the guide price based on the current evidence. Proceed only after reviewing the special conditions and tenancy documents, confirming the occupational rent, inspecting the vacant upper parts and obtaining reliable valuation and letting-cost evidence.

Works Required

Inspect the vacant upper parts and establish their condition, layout and suitability for letting. Any works, compliance requirements and letting costs should be specified only after inspection. Review the existing tenant’s holding-over position and the lease documentation.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable from the supplied evidence. The purchase price is guided at £75,000, but refurbishment costs, total rent, market value, finance inputs and applicable buyer or seller charges are unknown. Refinance proceeds therefore cannot be calculated.

Buy-to-Let Analysis

BTL performance cannot be established because no passing rent, auctioneer rent estimate or sufficiently specific rental comparable is supplied. The ground-floor tenant is holding over, but the rent and tenancy terms are unknown. The vacant upper parts may offer asset-management potential, but no rent or letting feasibility evidence is provided.

Flip Analysis

A flip analysis is not supportable. The supplied sales evidence concerns a different property at 33 North Parade and is too inconsistent and dated to establish a resale value for 53-55 North Parade. No refurbishment allowance or supported selling-cost allowance is available.

Investor Risks & Due Diligence

• The ground-floor tenant is holding over and the passing rent and tenancy terms are not supplied.

• The upper parts are vacant, with condition, layout, letting feasibility and associated costs unknown.

• The property has not been internally inspected by Savills.

• Buyer fees, VAT and other seller charges may apply but are not quantified.

• The supplied comparables relate to a different property, are dated 2019 and show materially different prices.

• No sufficiently specific rental comparable or auctioneer rent estimate is available.

Recommendation

Do not commit at the guide price based on the current evidence. Proceed only after reviewing the special conditions and tenancy documents, confirming the occupational rent, inspecting the vacant upper parts and obtaining reliable valuation and letting-cost evidence.

Strategy Rating

Analysis Confidence

Evidence is limited to the guide price, broad property description, holding-over occupancy, weak non-subject comparables and no rent, internal inspection, floor areas, condition, fees or valuation evidence.