72 Cambridge Court, Tindale Crescent, Bishop Auckland, County Durham

Description

Investment opportunity comprising a leasehold self-contained second floor flat, subject to an Assured Periodic Tenancy. Gross initial yield stated as 23.48%. By order of Receivers.

Accommodation

Reception room, two bedrooms, kitchen and bathroom. GIA approximately 55 sq m (592 sq ft), source: EPC.

Location

Situated on the north west side of Cambridge Street, to the south west of its junction with Watling Road. Shops and restaurants are accessible within Bishop Auckland Retail Shopping Park to the south west. Bishop Auckland station is 1.5 miles to the north east. The A68 is within easy reach to the south west, providing a link to the A1(M) motorway. Spring Gardens Wetlands and Auckland Park are within reach.

Tenure / Property Information

Investment Analysis

Same-development sold evidence ranges from £39,950 to £100,000, with three reported £100,000 sales and one £39,950 sale. No comparable size, condition, tenancy or sale context is supplied, so an indicative base GDV of £70,000 is used between the observed low and high evidence points, not as a formal valuation.

Investment Snapshot

Strategy Recommendation

Investigate as a tenanted buy-to-let only if the stated yield is supported by the tenancy file, rent schedule and full leasehold costs. Do not bid on the stated yield alone; obtain legal, tenancy and service-charge information first.

Works Required

No physical defects or refurbishment requirements are evidenced. Allow for inspection and verification of the flat, tenancy, lease, service-charge position and compliance before bidding; no works allowance can be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £70,000 base GDV, 75% refinancing is £52,500. The available cash outcome cannot be calculated because refurbishment, purchase costs, buyer/admin fees, finance costs and other charges are not supplied. The tenancy and lease position require verification before relying on refinance value or lenderability.

Buy-to-Let Analysis

The property is subject to an Assured Periodic Tenancy and the auction particulars state a 23.48% gross initial yield. However, no passing rent, auctioneer rent figure or sufficiently specific rental evidence is supplied, so the yield cannot be independently calculated. Ground rent is £150 per annum; service charge, arrears, tenancy terms and other ownership costs are unknown.

Flip Analysis

The reported same-development sales provide a broad £39,950–£100,000 evidence range, but no condition or specification comparison is available. A flip surplus cannot be calculated because works, transaction costs and a supported selling allowance are unavailable.

Investor Risks & Due Diligence

• The stated 23.48% gross initial yield cannot be independently verified because no passing rent or rent estimate is supplied.

• The Assured Periodic Tenancy terms, payment history, arrears position and tenancy documentation are not provided.

• Same-development sale prices vary materially from £39,950 to £100,000, with no specification or condition details to explain the difference.

• Leasehold service charges, reserve-fund liabilities and other lease obligations are not supplied.

• Buyer, administration, seller and third-party charges may apply but are not quantified.

• Property condition, council tax, parking and heating information is not supplied.

Recommendation

Investigate as a tenanted buy-to-let only if the stated yield is supported by the tenancy file, rent schedule and full leasehold costs. Do not bid on the stated yield alone; obtain legal, tenancy and service-charge information first.

Strategy Rating

Analysis Confidence

There is useful same-development sales evidence and a stated yield, but rent, tenancy terms, condition, service charges, buyer costs and comparable property details are missing.