68 Cotton Hill, Manchester, Lancashire, M20 4XR

Description

A Vacant Three Bedroom Mid Terrace House in Need of Modernisation. The property comprises a three bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen. First Floor: Three Bedrooms, Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Fog Lane Park are within easy reach. Transport links are provided by Burnage rail station.

Tenure / Property Information

Investment Analysis

The strongest evidence is the completed sale of 58 Cotton Hill for £380,000 on 24 May 2024, a same-street freehold terraced property. However, its bedroom count, condition and specification are not supplied, so it cannot establish a precise value for this vacant property requiring modernisation. A base GDV of £380,000 is used as an evidence-led reference point only; supported low and high scenarios cannot be established.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence without reviewing the legal pack, inspecting the property and obtaining a refurbishment quotation. The same-street sale supports potential value, but the investment case is unquantified.

Works Required

Modernisation of the existing three-bedroom mid-terrace accommodation, including the reception room, kitchen, three bedrooms and bathroom. The evidence does not specify individual defects, so no detailed scope or cost allowance can be confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £380,000 same-street completed sale as a provisional base GDV, 75% refinance would indicate £285,000 gross borrowing before lending costs and valuation constraints. The absence of refurbishment and total project costs prevents calculation of cash left in or confirmation that the strategy works.

Buy-to-Let Analysis

BTL performance cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Refurbishment costs, finance costs and other completion costs are also unavailable.

Flip Analysis

The provisional £380,000 GDV provides a reference resale value, but refurbishment costs, acquisition costs beyond the £1,800 administration charge, selling costs and the property's post-works specification are not sufficiently evidenced. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• The £380,000 comparable's bedroom count, condition and specification are not supplied.

• The property is described as requiring modernisation, but the scope and cost of works are unknown.

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

• Additional buyer disbursements may be payable under the legal pack.

• The guide price is stated as plus fees and the full acquisition cost is not available.

Recommendation

Do not bid on current evidence without reviewing the legal pack, inspecting the property and obtaining a refurbishment quotation. The same-street sale supports potential value, but the investment case is unquantified.

Strategy Rating

Analysis Confidence

There is one recent same-street completed sale and clear basic property details, but no comparable condition/specification, rental evidence, refurbishment cost, full fee schedule or legal-pack information.