57 Riches Street, Wolverhampton, WV6 0DR

Description

A large semi-detached, Eight bedroom, fully licensed HMO in Wolverhampton

Location

57 Riches Street, Wolverhampton, WV6 0DR Full listing coordinates are used for mapping: 52.590992, -2.150392.

Investment Analysis

Investment Snapshot

Works Required

• Building and services survey

• Fire/accessibility/statutory compliance

• Roof/external fabric repairs where required

• Commercial fit-out or strip-out

• Planning/use-class/VAT review

HB working works allowance: £10,000–£35,000. This is based on the auction description, accommodation and visible condition indicators; replace it with surveyor/contractor evidence before bidding.

Rental & Market Context

A standard AST rent is not the correct valuation driver for this asset. Commercial ERV, passing rent, planning/site value or a consented development scheme should be used instead.

Sold within 5m radius

Reliable recent like-for-like sold comparables were not established from the supplied scrape for this individual property. No comparable addresses or prices have been invented. Before bidding, verify the HB end-value range against HM Land Registry / current local sold evidence, matching property type, size, tenure, condition and micro-location.

GDV Assessment

A defensible GDV is not stated because this lot requires a specialist commercial/development appraisal or a costed planning scheme. Assigning a residential GDV would be misleading.

Strategy Recommendation

Preferred strategy: HMO / Income. The working purchase range is £275,000–£297,000 and the works allowance is £10,000–£35,000. The key question is whether the legal pack, condition and local market evidence support the income/end-value assumptions without exhausting contingency.

Potential BRRR Position

Standard residential BRRR is not the primary strategy. Refinance should be based on sustainable commercial/tenancy income, covenant, use class, lease length and specialist lender valuation.

Flip Analysis

A responsible flip margin cannot be calculated without a defensible end-use/valuation basis.

HMO Analysis

Verify HMO licence/planning, room sizes, fire doors, alarm/emergency lighting, kitchen/bathroom ratios, management standards and local room rents. Gross income should be stress-tested for utilities, voids and management costs.

Commercial / Mixed-Use Analysis

Review passing rent/ERV, lease length, tenant covenant, repairs, VAT, business rates, service charges, vacant possession and lender criteria. Appraise residential and commercial elements separately where mixed use.

Investor Risks & Due Diligence

• Read the complete Bond Wolfe legal pack and special conditions, including buyer/admin fees

• Verify title, tenure, lease length, tenancy agreements and vacant-possession status

• Replace HB works assumptions with surveyor/contractor pricing

• Confirm mortgage/bridging and insurance availability for the exact asset type

• Re-check local rents and property-level sold comparables immediately before bidding

Maximum Bid Analysis

A defensible maximum bid requires a specialist valuation or costed development/commercial scheme. Do not derive it from the guide alone.

Recommendation

Overall HB view: HMO / Income. Risk level: High; analysis confidence: Low. The principal sensitivities are end value, rent and refurbishment cost. Proceed only if legal and physical due diligence supports the assumptions and leaves adequate contingency.

Strategy Rating

HMO Income: ★★★★☆ | BRRR: ★★★☆☆ | Flip: ★★★☆☆

Research Sources

https://www.bondwolfe.com/auctions/properties/362284-property-auction-wolverhampton/ | https://www.bondwolfe.com/auction/3451/ | https://www.bondwolfe.com/addendum/