54 Portna Way, Leominster, Herefordshire

Description

Vacant freehold mid terrace house by order of a Housing Association. The property is of non-traditional steel frame construction. The Vendor will not accept offers prior to auction.

Accommodation

Ground floor: two reception rooms and kitchen. First floor: three bedrooms, bathroom and separate WC. Rear garden. GIA approximately 74.60 sq m (803 sq ft).

Location

The property is located on the north side of Portna Way. The shops and amenities of Leominster town centre are to the east. Leominster rail station is approximately 1.8 miles to the east. The A44 is to the south. Queenswood Arboretum is to the south east.

Tenure / Property Information

Investment Analysis

The two supplied recent HM Land Registry sales on Portna Way were £124,000 and £134,000. An indicative base GDV of £129,000 uses their midpoint, with £124,000–£134,000 as the evidence-supported range. The subject is vacant and of non-traditional steel frame construction; no condition survey, EPC, parking, heating or refurbishment specification is supplied, so the comparable evidence does not establish the subject’s exact value or required works cost.

Investment Snapshot

Strategy Recommendation

Proceed only after specialist structural, mortgageability and cost due diligence. The guide price appears attractive against the supplied comparables and asking rent, but no reliable maximum bid can be set without construction and total-cost information.

Works Required

Obtain a specialist inspection of the non-traditional steel frame construction before bidding. Any repairs, upgrading, redecoration or other refurbishment cannot be specified or costed reliably from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At an indicative £129,000 base GDV, 75% refinance would be £96,750. A BRRR cash-left-in calculation cannot be completed because the purchase price, refurbishment cost and applicable fees are not known. The non-traditional construction requires specialist due diligence and may affect mortgageability and refinance availability.

Buy-to-Let Analysis

The supplied advertised asking rent is £1,200 pcm, equivalent to £14,400 annually. This represents a gross yield of 20.87% against the £69,000 guide price, but the yield on total project cost cannot be established because refurbishment, buyer, administration and other possible fees are unknown. The rent is an advertised asking rent, not an achieved or passing rent.

Flip Analysis

The supplied comparable evidence supports an indicative £124,000–£134,000 resale range and £129,000 base GDV. A flip surplus cannot be calculated because the purchase outcome, works cost, buyer or administration charges, other seller fees and selling costs are unavailable.

Investor Risks & Due Diligence

• Non-traditional steel frame construction may require specialist inspection and could affect mortgageability, insurance and resale.

• The property is vacant and no condition survey or refurbishment specification is supplied.

• Buyer premium, administration charge and other possible seller or third-party fees are unknown.

• The rental figure is an advertised asking rent rather than achieved or passing rent.

• A reliable maximum bid, total project cost and flip surplus cannot be calculated from the supplied evidence.

Recommendation

Proceed only after specialist structural, mortgageability and cost due diligence. The guide price appears attractive against the supplied comparables and asking rent, but no reliable maximum bid can be set without construction and total-cost information.

Strategy Rating

Analysis Confidence

Recent same-street sold comparables and one advertised rent are available, but the property’s condition, non-traditional construction implications, fees, financeability and refurbishment requirements are not evidenced.