7 Duerden Street, Nelson, Lancashire BB9 9BJ

Description

Tenanted two bed terraced house. Not yet inspected by Auction House, however understood to be a tenanted two bed mid terrace house. Property is 62m² as taken from EPC.

Accommodation

Living room, kitchen, two bedrooms and a bathroom, as understood. Externally, there is a yard to the front and rear of the property.

Location

Nelson, Lancashire

Tenure / Property Information

Tenure	Long Leasehold (Leasehold)
Lease	999 years (less 10 days) from 12 May 1897; title number LA784931; ground rent £1.50 as shown on the title
Occupancy	Tenanted; currently let at £433pcm / £5,196pa
EPC	Current Rating D
Council Tax	Band A

Investment Analysis

Evidence supports a broad indicative value range of £54,000–£69,000. The £54,000 sale at 11 Duerden Street completed in 2021 is the most relevant comparable. The £60,000 guide is broadly consistent with the available evidence, while the £69,000 comparable is from 2007 and is less reliable. The guide is not a formal valuation and additional auction costs may apply.

Investment Snapshot

Guide Price	£60,000 (plus fees)
HB Estimated GDV	£60,000
Estimated Monthly Rent	£433 – £575 pcm
Estimated Annual Rent	£5,196 pa
Gross Yield on Guide	8.7%

Strategy Recommendation

Potential income-led BTL at the guide, subject to tenancy verification, inspection and legal-pack review. Avoid committing to a refurbishment or flip strategy until condition and all auction charges are confirmed.

Works Required

No specific refurbishment works are evidenced. The property has not been inspected by the auctioneer, so inspection and review of the legal pack, tenancy and EPC are required before budgeting works.

Rental & Market Context

HB Estimated Market Rent

£433 – £575 pcm

Property to rent in Nelson, Lancashire - Zoopla — 2 bed — — Advertised asking rent	£695 pcm
Houses to rent in Briercliffe, BB10, Lancashire — 2 bed — — Advertised asking rent	£304 pcm
Terraced Houses To Rent In Lancashire | OnTheMarket — 2 bed — — Advertised asking rent	£795 pcm
Larch Street, Nelson BB9 2 bed terraced house - (£133 pw) — 2 bed — £575 pcm — Advertised asking rent	£575 pcm
2 Bedroom houses to rent in Nairne Street, BB11, Lancashire — 2 bed — — Advertised asking rent	£400 pcm

Sold Comparables

The following completed sales were identified within approximately 5 miles:

11, Duerden Street, Nelson, Pendle, Bb9 9bj 2021-04-14 · Terraced · Leasehold	£54,000
15, Duerden Street, Nelson, Pendle, Bb9 9bj 2020-12-18 · Terraced · Leasehold	£45,000
19, Duerden Street, Nelson, Pendle, Bb9 9bj 2014-03-10 · Terraced · Leasehold	£33,000
7, Duerden Street, Nelson, Pendle, Bb9 9bj 2010-04-30 · Terraced · Leasehold	£60,000
15, Duerden Street, Nelson, Nelson, Pendle, Bb9 9bj 2007-01-12 · Terraced · Leasehold	£69,000

Potential BRRR Position

Base GDV	£60,000
75% Refinance	£45,000

Using the indicative £60,000 GDV, a 75% refinance would be approximately £45,000. Total acquisition cost cannot be calculated reliably because refurbishment costs, disbursements and other auction charges are not supplied. The refinance therefore would not recover the guide price alone, before works and transaction costs.

Buy-to-Let Analysis

At the current passing rent of £433 pcm, annual rent is £5,196 and the gross yield on the £60,000 guide is approximately 8.66%, before finance, maintenance, management, voids, insurance and auction costs. The supplied rental adverts range from £400 to £795 pcm, but they are asking rents and comparability is not established. Existing tenancy terms and rent sustainability require verification.

Flip Analysis

A £60,000 base GDV is supported by the guide and available local evidence, but no inspection-based works budget, selling costs or complete acquisition-cost schedule is available. A reliable flip surplus and maximum bid cannot therefore be established. The property is tenanted, which may also affect timing and resale strategy.

Investor Risks & Due Diligence

• Property has not been inspected by the auctioneer, so condition and required works are unknown.

• Current tenancy terms beyond the stated £433 pcm rent are not supplied.

• Additional disbursements, seller costs, legal fees, search fees or transfer fees may apply under the special conditions.

• Rental listings are advertised asking rents rather than achieved rents and may not be directly comparable.

• The £69,000 comparable is from 2007 and may not reflect current market value.

• Leasehold ownership requires review of the legal title and any lease-related obligations, although the stated lease term is very long.

Recommendation

Potential income-led BTL at the guide, subject to tenancy verification, inspection and legal-pack review. Avoid committing to a refurbishment or flip strategy until condition and all auction charges are confirmed.

Strategy Rating

HB Rating

★★★☆☆

Analysis Confidence

Confidence

Low-Medium

There is useful local sold-price evidence, a stated passing rent and a long lease, but the property has not been inspected and refurbishment costs, tenancy details, disbursements, selling costs and full legal-pack liabilities are unavailable.