60 Riddings Street, Derby, DE22 3US

Description

A vacant freehold mid terraced property, standing flush to the pavement.

Accommodation

Ground Floor: Two Reception Rooms, Kitchen. First Floor: Landing, Two Bedrooms, Shower Room/WC. Outside: Garden.

Tenure / Property Information

Investment Analysis

Five same-street completed sales range from £105,000 to £138,000, with an average of £119,200 and median of £120,000. A base GDV of £120,000 is used, but bedroom counts, condition and specification of the comparables are not supplied, so the valuation range is indicative only.

Investment Snapshot

Strategy Recommendation

Potential value-led resale or refinance opportunity only if inspection confirms acceptable condition and the legal pack reveals no adverse costs. Do not rely on the headline GDV or bid without establishing works, selling costs, taxes and legal-pack liabilities.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a viewing, survey and legal-pack review before budgeting for works; only condition-led works should be allowed for.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £20,000 guide and no quantified works allowance, base acquisition cost including the known £2,700 administration charge is £22,700. A theoretical 75% refinance of the £120,000 base GDV is £90,000, but actual lending, valuation, finance costs, taxes and any works are unknown. The apparent equity release is therefore not reliable.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The property is vacant and the £2,700 administration charge must be included alongside the purchase price; other completion costs remain unknown.

Flip Analysis

The same-street sales support an indicative GDV range of £105,000–£138,000 and a £120,000 base case. However, no refurbishment budget, selling costs or condition assessment is available, so a reliable flip surplus and maximum bid cannot be calculated.

Investor Risks & Due Diligence

• Comparable bedroom counts, condition and specifications are not supplied, weakening the GDV assessment.

• No rental evidence is available, so BTL yield cannot be established.

• No condition report or refurbishment budget is provided.

• Additional costs may be listed in the legal pack and are currently unknown.

• Stamp duty and government taxes are excluded from the supplied administration charge.

• The £2,700 administration charge is payable at the fall of the gavel or end of the online auction.

Recommendation

Potential value-led resale or refinance opportunity only if inspection confirms acceptable condition and the legal pack reveals no adverse costs. Do not rely on the headline GDV or bid without establishing works, selling costs, taxes and legal-pack liabilities.

Strategy Rating

Analysis Confidence

Recent completed sales are available on the same street, but comparable bedroom counts and condition are absent, while rent, refurbishment costs, selling costs and special-condition liabilities are unknown.