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

Description

Investment opportunity comprising a leasehold self-contained first floor flat, subject to an Assured Periodic Tenancy. GIA approximately 69 sq m (743 sq ft).

Accommodation

Reception Room, Two Bedrooms, Kitchen, Bathroom

Location

The property is 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 completed sales provide a wide range: £39,950 for 56 Cambridge Court and £100,000 for four other Cambridge Court flats. A base GDV of £100,000 is supported by the majority of evidence, but the lower sale creates substantial valuation uncertainty. Condition, exact specification and sale circumstances are not supplied.

Investment Snapshot

Strategy Recommendation

Potential low-cost BTL subject to verification of the tenancy, service charges, condition and all auction fees. Do not rely on the £100,000 GDV or pursue a flip without resolving the comparable-sale discrepancy.

Works Required

No refurbishment works are supported by the evidence. Confirm condition, tenancy documentation, lease terms, service charges, arrears, compliance and any required repairs before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £100,000 base GDV, 75% refinance would be approximately £75,000. However, refurbishment cost, service charges, finance costs, acquisition charges and the property’s actual condition are unknown, so cash left in and equity cannot be reliably calculated. The £39,950 comparable demonstrates meaningful valuation risk.

Buy-to-Let Analysis

The supplied advertised rent of £600 pcm implies £7,200 annual gross rent and a 31.3% gross yield against the £23,000 guide. This is before ground rent, service charges, management, maintenance, voids, finance and other costs; the rent is advertised rather than achieved and the passing rent is not supplied. The tenancy terms and rent payment history require verification.

Flip Analysis

A £100,000 base GDV appears to provide a substantial margin over the £23,000 guide before works, transaction costs and selling costs. However, the £39,950 same-development sale and absence of condition information mean the resale assumption is not sufficiently robust to support a reliable flip surplus.

Investor Risks & Due Diligence

• Wide same-development valuation range from £39,950 to £100,000.

• Advertised rent is not an achieved or confirmed passing rent.

• Assured Periodic Tenancy details, rent payment history and arrears status are not supplied.

• Property condition and any required works are unknown.

• Buyer, administration, seller and third-party charges are unspecified.

• Leasehold service charges, restrictions and remaining lease obligations are not supplied.

• Gross yield excludes ground rent, service charges, management, maintenance, voids and finance costs.

Recommendation

Potential low-cost BTL subject to verification of the tenancy, service charges, condition and all auction fees. Do not rely on the £100,000 GDV or pursue a flip without resolving the comparable-sale discrepancy.

Strategy Rating

Analysis Confidence

There are multiple same-development completed sales and rental asking evidence, but the sales range is highly inconsistent and key costs, condition, service charges, passing rent and tenancy details are missing.