57 The Paddock, Fulwood, Preston, Lancashire PR2 8GL

Description

Vacant Ground Floor Studio Apartment. Ground floor apartment with open plan living space, bathroom and defined bedroom area. The property is located close to the Preston Hospital, college and local shops.

Accommodation

Open plan living space, bathroom and defined bedroom area.

Location

Located close to Preston Hospital, college and local shops.

Tenure / Property Information

Investment Analysis

The closest evidence is 58 The Paddock at £37,000 in September 2025 and 56 The Paddock at £43,400 in October 2024. These same-block leasehold sales support a broad value range of £37,000–£43,400, with an indicative midpoint of £40,200. The comparables do not confirm identical condition, specification or lease terms, so this is an evidence-based estimate rather than a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal-pack review, confirmation of leasehold charges and a physical inspection. Secure independent rental evidence before considering BTL or BRRR; do not rely on the guide alone as a maximum bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection and any cleaning, repairs or compliance work identified after reviewing the legal pack and viewing the vacant apartment; no works allowance has been included in the calculations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance against the indicative base GDV would be approximately £30,150. Total project cost cannot be calculated because refurbishment costs and complete acquisition/disbursement costs are unknown. BRRR viability therefore remains unconfirmed.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The apartment is vacant, and leasehold costs, service charges and other recurring costs are not provided. Obtain local rent evidence and review the legal pack before bidding.

Flip Analysis

The same-block sales support an indicative GDV range of £37,000–£43,400, with a £40,200 base case. A resale surplus cannot be calculated because works, full acquisition costs and selling costs are not supplied.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is supplied, so rental income and yield cannot be assessed.

• The property is vacant and its internal condition is not evidenced beyond the description and EPC rating D.

• The leasehold service charge, ground rent and other lease obligations are not supplied.

• The 2.75% buyer administration charge has a £3,600 minimum, with possible additional disbursements and legal or transfer costs.

• Comparable sales support a range but do not confirm identical condition, specification or legal terms.

Recommendation

Proceed only subject to legal-pack review, confirmation of leasehold charges and a physical inspection. Secure independent rental evidence before considering BTL or BRRR; do not rely on the guide alone as a maximum bid.

Strategy Rating

Analysis Confidence

There are two recent same-block sold comparables and a long stated lease, but no rental evidence, condition survey, refurbishment budget, service-charge information or complete fee schedule.