57A Station Street, Ashbourne, Derbyshire, DE6 1DE

Description

A Vacant First and Second Floor Four Bedroom Split Level Maisonette in Need of Refurbishment.

Accommodation

First Floor: Two Reception Rooms; Kitchen. Second Floor: Four Bedrooms; Two Bathrooms.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Ashbourne Park are within easy reach. Transport links are provided by the A52.

Tenure / Property Information

Investment Analysis

The only supplied comparable is 57 Station Street, Ashbourne, recorded at £45,000 in January 2002. It is an old transaction and does not provide reliable evidence of current market value or refurbishment-adjusted GDV. No current comparable sales, valuation, rental evidence or detailed refurbishment budget has been supplied. The £60,000+ guide is an auction guide, not a market valuation.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, inspect the property, confirm flying-freehold arrangements, obtain a detailed refurbishment quotation and establish current comparable values and achievable rent before reassessing.

Works Required

Refurbishment is expressly required, but the evidence does not specify the condition or scope of works. The EPC is rated G, so EPC-related improvement may require investigation. A full inspection and legal-pack review are required before preparing a works budget.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported without a current GDV, refurbishment budget, achievable rent and finance assumptions. The flying freehold, vacant status, EPC G rating, unspecified refurbishment requirement and potentially payable legal-pack charges require investigation before considering purchase or refinance.

Buy-to-Let Analysis

BTL returns cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate has been supplied. The property is vacant and requires refurbishment, with an EPC rating of G. The £60,000+ guide is subject to an £1,800 administration charge plus any disbursements and other legal or transfer charges identified in the special conditions.

Flip Analysis

A flip surplus cannot be calculated. Current resale evidence and a supported refurbishment allowance are absent; the only comparable is a £45,000 sale from 2002. The guide is £60,000+ before the known £1,800 administration charge and any other applicable charges.

Investor Risks & Due Diligence

• Flying freehold may create legal, mortgageability or resale complications; the legal position has not been supplied.

• The property is vacant and expressly in need of refurbishment, but the scope and cost of works are unknown.

• EPC rating G may create additional compliance or improvement costs, which cannot be quantified from the evidence.

• No sufficiently specific rental evidence or auctioneer rent estimate is available, so income and yield are unverified.

• The only supplied comparable is a 2002 transaction and is not reliable evidence of current value.

• The £1,800 administration charge is payable, with further disbursements and other charges potentially payable under the legal pack and special conditions.

Recommendation

Do not bid on the current evidence alone. Obtain the legal pack, inspect the property, confirm flying-freehold arrangements, obtain a detailed refurbishment quotation and establish current comparable values and achievable rent before reassessing.

Strategy Rating

Analysis Confidence

Evidence is limited to the auction description, one historic 2002 comparable, the guide price and the administration charge. Current valuation, rent, condition detail, works cost, lease/legal information and resale evidence are unavailable.