5B Stonegate, Spalding, Lincolnshire, PE11 2PQ

Description

A two bedroom first floor flat located within walking distance to Spalding town centre. A first floor two bedroom flat consisting of a kitchen/dining area, shower room and two bedrooms.

Accommodation

First Floor Kitchen/Dining Area, Shower Room, Bedroom One, Bedroom Two

Location

Situated in Spalding, conveniently located for the town centre, which offers a range of shopping facilities, supermarkets, cafes and restaurants. The town also benefits from local schools, bus services and a railway station providing connections to surrounding areas.

Tenure / Property Information

Tenure	Leasehold
Lease	99 year lease assigned Nov 2007
EPC	Please refer to Legal Pack
Council Tax	Council Tax A

Investment Analysis

The only comparable evidence is the same flat, 5B Stonegate, recorded at £105,000 in November 2007. This is a completed sale but is historic and does not establish current market value. The £46,000 guide is an auction guide, not a valuation. Current GDV, rent and refurbishment cost cannot be reliably established from the supplied evidence.

Investment Snapshot

Guide Price

£46,000

Strategy Recommendation

Do not bid on an investment basis until the legal pack confirms the lease position and additional charges, and current rent, condition and market-value evidence are obtained. At present, the opportunity is unquantifiable rather than demonstrably profitable.

Works Required

No refurbishment defects or required works are evidenced. Review the legal pack, EPC, lease and property condition before bidding; any physical works remain unquantified.

Rental & Market Context

No sufficiently specific external rental comparable identified.

Sold Comparables

The following completed sales were identified within approximately 5 miles:

5a, Stonegate, Spalding, Spalding, South Holland, Pe11 2pq 2007-11-24 · Flat/Maisonette · Leasehold	£105,000
5b, Stonegate, Spalding, Spalding, South Holland, Pe11 2pq 2007-11-23 · Flat/Maisonette · Leasehold	£105,000

Potential BRRR Position

A BRRR assessment is not supportable without a current GDV, rent, refurbishment budget, lease details and finance assumptions. The 2007 same-property sale at £105,000 is insufficient evidence for a current refinance value.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The known buyer premium and admin charge total £2,880, before any additional legal-pack, search, seller-cost, transfer or other disbursement charges.

Flip Analysis

A flip appraisal cannot be completed because there is no current GDV or supported refurbishment budget. The historic £105,000 sale should not be treated as current resale value. Additional sale and acquisition costs are also not fully specified.

Investor Risks & Due Diligence

• The only sale comparable is the same property from November 2007 and may not represent current value.

• No sufficiently specific rental evidence is supplied, so rental yield cannot be calculated.

• The lease is described as a 99-year lease assigned in November 2007, but its commencement and remaining term are not confirmed.

• EPC, heating and parking information is unavailable in the supplied evidence.

• Special Conditions may add search fees, seller costs, legal fees, transfer fees, disbursements and other charges beyond the stated £2,880 buyer premium and admin charge.

Recommendation

Do not bid on an investment basis until the legal pack confirms the lease position and additional charges, and current rent, condition and market-value evidence are obtained. At present, the opportunity is unquantifiable rather than demonstrably profitable.

Strategy Rating

HB Rating

★★☆☆☆

Analysis Confidence

Confidence

Low

Evidence includes the property description, guide and known auction charges plus one historic same-property sale, but lacks current GDV evidence, rental evidence, condition or works information, EPC details, and complete lease-cost information.