58 Pool Bank Street, Middleton, Manchester, M24 4RN

Description

Two-bedroom mid-terrace let at an agreed £790 pcm / £9,400 pa. The auctioneer states the rent has not been paid since February 2026 and accrued arrears will not pass to the buyer. Lease stated as 990 years from 25 March 1893 with £9 ground rent.

Accommodation

Accommodation should be read together with the auctioneer particulars and legal pack. Where the auctioneer has supplied a room schedule, that source information forms the factual basis of this report; any configuration changes require verification on inspection.

Location

The property is located in the M24 postcode area. The location should be assessed for access to local amenities, schools, employment, road/rail links and tenant demand. The latitude/longitude fields use a postcode-area coordinate fallback for mapping and should not be treated as a surveyed building position.

Investment Analysis

Investment Snapshot

Strategy Recommendation

Initial strategy: Tenanted Investment. The guide is only a starting point. A maximum bid should be based on the legal pack, physical condition, finance costs, achievable rent and independently verified comparable evidence.

Works Required

• Commission a pre-purchase condition survey / detailed inspection

• Obtain contractor quotations for any refurbishment or compliance works

• Test electrical, heating and plumbing systems

• Check kitchen, bathroom, decoration and flooring condition

• Confirm EPC, fire, gas and electrical compliance before letting

• Review lease length, ground rent, service charge, major works and lender acceptability

Rental & Market Context

Auctioneer/source published rent is £9,400 pa. HB indicative market rent is £790–£900 pcm (£9,480–£10,800 pa). The source rent and HB estimate are intentionally shown separately.

Sold within approximately 5 miles

No unverified sold comparables have been inserted. Check recent Land Registry evidence and closely matched local sales for property type, size, condition and tenure before setting a maximum bid.

Potential BRRR Position

Illustrative 75% refinance against the HB indicative value range is approximately £101,250–£116,250. Actual refinance depends on lender valuation, rent stress testing, property condition, tenure and borrower circumstances.

Flip Analysis

Simple gross spread before transaction and finance costs is approximately £17,000–£47,000. This is not profit and excludes SDLT, auction/admin fees, legal fees, finance, holding costs, insurance, professional fees, selling costs, contingency and tax.

Investor Risks & Due Diligence

• Review legal pack, title, special conditions and completion period

• Confirm auction administration charge, buyer's premium and disbursements

• Verify physical condition and refurbishment budget

• Check finance and insurance availability

• Verify rental evidence and recent sold comparables

• Confirm lease term, ground rent, service charge, major works and letting restrictions

• Check tenancy agreement, rent history, deposit position and landlord compliance

• Rent arrears are specifically disclosed; assess recoverability and ongoing tenancy risk

Recommendation

Initial recommendation: Tenanted Investment. The opportunity should only be pursued where the verified total acquisition and works cost leaves adequate margin against conservative rental and resale evidence.

Strategy Rating

Buy-to-Let: ★★★★☆ | Income Hold: ★★★★☆ | Flip: ★★☆☆☆