54 Manor Wood, Coulby Newham, Middlesbrough, Cleveland

Description

A two bedroom first floor flat. The property forms part of a two storey purpose built block with communal gardens and residents parking. Presented in clean decorative order. Vacant.

Accommodation

First Floor - Entrance Hallway, Reception Room, Kitchen, Two Bedrooms, Bathroom/WC.

Location

Located on Manor Wood, accessed off Hemlington Hall Road. A range of amenities are available nearby on Viewley Centre Road and at the M Parkway Shopping Centre, with Middlesbrough town centre approximately 4.1 miles. Recreational amenities of Hemlington Lake, Maelor's Wood and Kell Gate Green are all easily accessible. Transport Gypsy Lane - Northern.

Tenure / Property Information

Investment Analysis

HM Land Registry comparables on Manor Wood range from £52,000 to £65,000 for sales in 2025, with a £59,000 sale in 2024. The recent four-sale average is £58,000 and the median is £57,500. Given the stated clean decorative order and matching two-bedroom flat type, a base GDV of £59,000 is adopted, with £52,000 low and £65,000 high scenarios. The older £72,600 sale from 2022 is not relied upon as the high case.

Investment Snapshot

Strategy Recommendation

Potential value-led flip or refinance opportunity at or near the guide, subject to legal-pack review, confirmed auction charges, leasehold liabilities and a satisfactory inspection. Do not rely on BTL returns until rent evidence is obtained.

Works Required

No specific refurbishment works are evidenced. The flat is described as being in clean decorative order, so only inspection, cleaning and any minor matters identified in the legal pack or viewing should be considered. No monetary works allowance is added.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £35,000 guide, no evidenced works allowance and excluding unknown buyer, seller and finance costs, the indicative base cost is £35,000. A 75% refinance against the £59,000 base GDV would be £44,250, implying £9,250 of capital release before finance, tax and unquantified transaction costs. This is highly dependent on lender valuation, lease details and actual auction costs.

Buy-to-Let Analysis

BTL suitability cannot be fully assessed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. At the £35,000 guide, the property appears to have a substantial gross-value margin against local sold comparables, but the buyer premium, VAT position, leasehold costs and operating expenses remain unknown.

Flip Analysis

The £35,000 guide is £24,000 below the adopted £59,000 base GDV before auction charges, selling costs, finance, tax and any works. A formal flip surplus is not calculated because no supported selling-cost allowance is provided. The comparable evidence indicates potential value, but the guide is not a guaranteed purchase price.

Investor Risks & Due Diligence

• The auction buyer premium is payable but its amount and VAT treatment are not supplied.

• Other seller charges and VAT treatment are unknown pending the Special Conditions of Sale.

• Leasehold service charges, ground rent and other lease liabilities are not provided.

• The new 990-year lease terms require legal-pack confirmation, including any restrictions or unusual obligations.

• No sufficiently specific rental evidence is available, so BTL yield and rental cash flow cannot be established.

• The property has only been described as clean decorative order; no inspection evidence confirms condition beyond that description.

• The adopted GDV is an estimate based on nearby completed sales and is not a formal valuation.

Recommendation

Potential value-led flip or refinance opportunity at or near the guide, subject to legal-pack review, confirmed auction charges, leasehold liabilities and a satisfactory inspection. Do not rely on BTL returns until rent evidence is obtained.

Strategy Rating

Analysis Confidence

Local completed-sale evidence is reasonably specific and supports a GDV range, but rental evidence, buyer/admin fees, EPC, council tax, heating, leasehold charges and legal-pack details are missing.