8 Lakeside Court, Spennymoor, County Durham, DL16 6ET

Description

A two bedroom semi-detached house. Externally the property benefits from off road parking and a rear garden. In need of modernisation. Extension potential subject to requisite consents. Vacant.

Accommodation

Two bedroom semi-detached house with off road parking and a rear garden.

Location

Spennymoor is a town in County Durham. Located on Lakeside Court, accessed off Weardale Street. Amenities are easily accessible locally on St Andrew's Lane and within the town centre. Recreational amenities of Victoria Jubilee Park, The Daisy Field and Whitworth Hall Country Park are available nearby. Major road links are via the A1 (M). Transport Bishop Auckland - Northern.

Tenure / Property Information

Investment Analysis

No completed comparable sales, formal valuation or sufficiently specific rental evidence has been supplied. The £45,000 guide is an auction guide only and excludes the buyer's fee; VAT and other seller charges may also apply. Market value, GDV and a maximum bid cannot be reliably established from the evidence.

Investment Snapshot

Strategy Recommendation

Treat as a potential modernisation project only. Do not bid based solely on the guide; obtain a survey, works quotations, local valuation evidence, rental evidence and the full auction cost schedule first.

Works Required

Modernisation is required, but the evidence does not specify the property's defects or scope. Obtain a survey and contractor quotations before pricing works. Any extension should be treated as potential only and is subject to the requisite consents.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed without supported GDV, refurbishment costs, rent and finance assumptions. The property is vacant and requires modernisation, but the refinance outcome cannot be quantified.

Buy-to-Let Analysis

BTL analysis cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. Yield, operating costs and investment value therefore remain unsupported.

Flip Analysis

A flip assessment cannot be completed because there are no completed sales comparables, GDV evidence, refurbishment costs or supported selling allowance. The £45,000 guide alone is insufficient to establish a resale margin.

Investor Risks & Due Diligence

• The property is described as being in need of modernisation, but the extent and cost of works are unknown.

• No completed comparable sales have been supplied, so GDV and market value cannot be verified.

• No sufficiently specific rental evidence has been supplied, so rent and yield cannot be established.

• The buyer's fee is not stated; VAT may apply and other seller's charges may be payable under the special conditions.

• Any extension potential is subject to the requisite consents.

• EPC, council tax and heating information are not supplied.

Recommendation

Treat as a potential modernisation project only. Do not bid based solely on the guide; obtain a survey, works quotations, local valuation evidence, rental evidence and the full auction cost schedule first.

Strategy Rating

Analysis Confidence

The evidence confirms tenure, vacancy, accommodation, parking, garden and a need for modernisation, but provides no completed comparables, rent, condition detail, EPC, council tax, heating information, works costs or complete fee schedule.