57 The Paddock, Fulwood, Preston, Lancashire

Description

Vacant ground floor studio apartment with open plan living space, bathroom and defined bedroom area. Located close to Preston Hospital, college and local shops.

Accommodation

Open plan living space, bathroom and defined bedroom area.

Location

Close to Preston Hospital, college and local shops.

Tenure / Property Information

Investment Analysis

Recent same-development sales were £37,000 in September 2025 and £43,400 in October 2024. A provisional base GDV of £40,000 is reasonable, with a supported range of £37,000–£43,400, subject to studio size, condition and legal-pack confirmation.

Investment Snapshot

Strategy Recommendation

Proceed cautiously only if the legal pack and inspection confirm value, lease terms and acceptable costs. Evidence is insufficient to support a BTL, BRRR or flip decision at a defined maximum bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Verify condition, EPC requirements, lease terms and any communal or compliance works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A 75% refinance of the provisional £40,000 base GDV equates to £30,000. Total project cost cannot be calculated because refurbishment costs, disbursements and other completion costs are unknown.

Buy-to-Let Analysis

Rental evidence only covers larger two- and three-bedroom properties and cannot support a studio rent estimate. BTL yield cannot therefore be established. The £109.72 pcm service charge would also reduce net returns.

Flip Analysis

The £35,000 guide is below recent same-development sales, but resale surplus cannot be quantified without supported works, selling costs and confirmed condition. Recent comparables range from £37,000 to £43,400.

Investor Risks & Due Diligence

• Studio size and condition are not provided.

• Rental evidence is not studio-specific, so rental income and yield cannot be established.

• Service charge is £109.72 pcm and ground rent is not stated.

• Buyer administration charge is subject to a £3,600 minimum, with possible additional disbursements and special-condition costs.

• Lease and legal-pack terms require verification before bidding.

• Current EPC rating is D.

Recommendation

Proceed cautiously only if the legal pack and inspection confirm value, lease terms and acceptable costs. Evidence is insufficient to support a BTL, BRRR or flip decision at a defined maximum bid.

Strategy Rating

Analysis Confidence

Recent same-development sales support a provisional value range, but studio size, condition, rent, refurbishment costs, ground rent and completion charges are not evidenced.