8 Brockhurst Walk, Wigan, Lancashire

Description

Vacant leasehold top floor flat with two bedroom accommodation. GIA approximately 62 sq m (667 sq ft), source: EPC. By order of a housing association.

Accommodation

Two bedroom accommodation; GIA approximately 62 sq m (667 sq ft)

Location

The property is located on the west side of St Clements Court. The shops and amenities of Wigan City Centre are located to the north east. Wigan North Western Railway Station is approximately 1.3 miles north west. The A49 is easily accessible to the south. Parsons Meadow is to the north.

Tenure / Property Information

Investment Analysis

The only supplied comparable is 36 Brockhurst Walk, a leasehold flat sold for £37,000 in October 2016. It is dated and no current comparable evidence, lease details, condition assessment or formal valuation is supplied. The £43,000+ guide cannot therefore be validated as current market value or GDV.

Investment Snapshot

Strategy Recommendation

Do not set a bid from the supplied evidence alone. Obtain and review the legal pack, lease terms, current valuation evidence, condition information and rental evidence before considering purchase.

Works Required

No specific repair or refurbishment works are evidenced. Review the legal pack, lease, service-charge information and any available inspection details before budgeting works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR analysis cannot be supported without a current GDV, evidenced rent, refurbishment budget, lease information and known acquisition costs. A 75% GDV refinance calculation is therefore unavailable.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. Operating costs, lease costs and buyer charges are also unavailable.

Flip Analysis

A flip appraisal cannot be supported. The sole comparable is from 2016, while current GDV, condition, refurbishment costs, selling costs and acquisition charges are not supplied.

Investor Risks & Due Diligence

• Lease terms and related obligations are unknown and require legal-pack review.

• No current market-value or GDV evidence is supplied.

• No sufficiently specific rental evidence is supplied.

• Property condition and any required works are not evidenced.

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

• The property is vacant, so no passing rental income is evidenced.

Recommendation

Do not set a bid from the supplied evidence alone. Obtain and review the legal pack, lease terms, current valuation evidence, condition information and rental evidence before considering purchase.

Strategy Rating

Analysis Confidence

Evidence is limited to the guide price, property description, approximate size, one dated 2016 comparable and no usable rent, condition, lease, fee or cost information.