82 Redland Grove, Nottingham, Nottinghamshire, NG4 3EU

Description

Freehold two floor semi-detached house requiring modernisation. Full vacant possession.

Accommodation

First floor: Three bedrooms, bathroom/WC. Ground floor: Reception room, kitchen/diner, conservatory, hall. Outside: Front, side and rear gardens. Gross Internal Area GIA approximately 84 sq m (904 sq ft).

Location

The property is situated on Redland Grove between its junctions with Burlington Road and Gedling Road. Public transport links include Carlton Mainline Rail Station together with a network of local bus services serving the surrounding vicinity. Road links include the A612 (Carlton Hill) and the A46, which in turn provide access to the wider motorway network including the M1. Shopping amenities can be found locally within Carlton Town Centre, with an extensive range of shops, bars and restaurants being found in Nottingham City Centre. Recreational pursuits can be found locally at the open spaces of Colwick Country Park, Gedling Country Park and Carlton Hill Recreation Ground.

Tenure / Property Information

Investment Analysis

The five supplied completed sales on the same road range from £225,000 to £365,000. Four sales are between £225,000 and £249,500, while £365,000 is a significant high outlier. A cautious base GDV of £249,500 is adopted, with a low scenario of £225,000 and high scenario of £365,000. The subject requires modernisation, but the evidence does not quantify its condition relative to the comparables, so this is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only subject to confirming the modernisation scope, obtaining realistic contractor costs, checking special-condition fees and validating achievable rent. At the guide, the property may suit a refurbishment-led hold, but the current evidence is insufficient to set a safe maximum bid or confirm a flip margin.

Works Required

Modernisation of the vacant three-bedroom house, with the precise scope and cost to be established by inspection. The supplied evidence does not confirm specific defects or required works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the adopted £249,500 base GDV, 75% refinance is £187,125. Whether this releases equity depends on the unknown purchase outcome, modernisation cost, finance costs and applicable fees. The strategy cannot be fully underwritten from the supplied evidence.

Buy-to-Let Analysis

The supplied advertised asking rent is £750 pcm, equivalent to £9,000 annually. Against the £140,000 guide price this indicates a gross yield of approximately 6.43%, before modernisation, finance, operating costs, voids and tax. Yield on total project cost cannot be established because refurbishment costs and any applicable seller fees are unknown. The rent is an asking listing, not achieved rent.

Flip Analysis

The supplied comparable evidence supports a cautious base GDV of £249,500, but the £365,000 sale is a substantial outlier. A flip surplus cannot be calculated because refurbishment costs, purchase outcome, selling costs and any applicable seller fees are not provided.

Investor Risks & Due Diligence

• Modernisation scope and cost are not supplied.

• Same-road completed sale prices vary materially, including a £365,000 high outlier.

• The £750 pcm figure is an advertised asking rent rather than achieved rent.

• Applicable seller fees under the special conditions are unknown.

• Parking and heating information require confirmation from the auction centre.

• Gross yields exclude refurbishment, finance, operating costs, voids, tax and other transaction costs.

Recommendation

Proceed only subject to confirming the modernisation scope, obtaining realistic contractor costs, checking special-condition fees and validating achievable rent. At the guide, the property may suit a refurbishment-led hold, but the current evidence is insufficient to set a safe maximum bid or confirm a flip margin.

Strategy Rating

Analysis Confidence

There are several recent same-road completed sales and one advertised rental, but the comparables vary materially, the property’s detailed condition and parking/heating are unconfirmed, and refurbishment, selling and some completion costs are unavailable.