55 Highbury Road, Luton, Bedfordshire, LU3 1AD

Description

A two bedroom mid terrace house. Externally the property benefits from a rear garden. In need of modernisation. Vacant.

Accommodation

Ground Floor - Two Reception Rooms, Kitchen, WC. First Floor - Two Bedrooms.

Location

Located on Highbury Road, accessed off Cromwell Road. Local amenities available in Luton town centre, approximately 0.8 miles. Recreational amenities nearby such as Wardown Park and Peoples Park. Transport links via bus stops and Luton stations with London Luton Airport nearby. Transport Luton - EMR, Thameslink.

Tenure / Property Information

Investment Analysis

Recent completed sales on the same road range from £210,000 to £257,500, with the two most recent sales at £210,000 and £232,500. Because bedroom counts and condition are not supplied for the comparables, a cautious base GDV of £225,000 is used, with a supported scenario range of £210,000 to £232,500. The property is vacant and in need of modernisation, but no quantified works allowance or buyer fee is provided.

Investment Snapshot

Strategy Recommendation

Potential BTL or BRRR subject to survey, verified modernisation costs and confirmation of all auction charges. Do not rely on the headline yield alone or bid without a fully costed works budget.

Works Required

Modernise the property in line with its condition, including the kitchen, bathroom/WC, decoration, flooring and any necessary repairs identified by survey. The evidence does not support specifying structural, mechanical or external works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, a notional 75% refinance is £168,750. However, total project cost cannot be calculated because refurbishment costs and the buyer premium are unspecified, with VAT and possible seller charges also noted. BRRR feasibility therefore requires a survey, works quotation and confirmation of auction costs.

Buy-to-Let Analysis

At the £135,000 guide, the advertised £1,050 pcm rent implies annual gross rent of £12,600 and a gross yield of approximately 9.33% before refurbishment, finance, tax, maintenance, voids and acquisition costs. The rent is an asking rent rather than achieved rent, and the buyer fee is unspecified, so the net investment return cannot be established.

Flip Analysis

The evidence suggests a base resale value of approximately £225,000, but a flip surplus cannot be calculated because refurbishment costs, buyer premium and other transaction costs are unavailable. The resale comparables also lack supplied condition and bedroom details.

Investor Risks & Due Diligence

• The property is described as needing modernisation, but the scope and cost of works are unknown.

• The buyer premium amount is not specified.

• VAT may apply to the sale price and seller charges may apply under the Special Conditions of Sale.

• The rental evidence is one advertised asking rent, not an achieved or passing rent.

• Comparable sale condition and bedroom details are not supplied, limiting GDV precision.

• The property is vacant, so rent is not currently passing.

Recommendation

Potential BTL or BRRR subject to survey, verified modernisation costs and confirmation of all auction charges. Do not rely on the headline yield alone or bid without a fully costed works budget.

Strategy Rating

Analysis Confidence

Same-road completed sales and one advertised rental provide useful market evidence, but comparable property details, refurbishment costs, buyer premium and other transaction charges are incomplete.