85 Albert Street, Wigan, Lancashire, WN5 9DR

Description

A Vacant Two Bedroom Mid Terrace House in Need of Refurbishment. The property comprises a two bedroom mid terrace house arranged over ground and first floors.

Accommodation

Ground Floor: Reception Room, Kitchen/Diner, Utility Room. First Floor: Two Bedrooms, Bathroom. Exterior: Rear yard and off street parking.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of Alexandra Park are within easy reach. Transport links are provided by Pemberton rail station.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £73,000 to £143,000, with the most recent evidence at £91,000 in January 2025. The £143,000 2022 sale is materially higher and property condition/specification are unknown, so it is a weak upper scenario. Refurbishment costs and achieved market value remain uncertain.

Investment Snapshot

Strategy Recommendation

Proceed only after legal-pack review, inspection and firm refurbishment quotations. The opportunity appears more suitable for a refurbishment-led resale or BRRR assessment than BTL until rent evidence is obtained.

Works Required

Refurbishment is required, but the evidence does not specify defects or scope. Allow for inspection-led renewal of the accommodation, kitchen, bathroom and finishes only where required, with costs confirmed by quotations.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the base GDV of £91,000, 75% refinancing equates to £68,250. Against the £50,000 guide plus the known £1,800 administration charge, this leaves £16,450 before refurbishment, legal/disbursement costs, finance and tax; actual cash requirement cannot be determined.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Refurbishment costs and total acquisition cost are also unknown.

Flip Analysis

A potential resale spread exists against the £91,000 base GDV, but refurbishment costs, selling costs and other acquisition costs are not sufficiently evidenced. The £143,000 comparable is a dated high outlier and should not be relied upon without further verification.

Investor Risks & Due Diligence

• Unknown refurbishment scope and cost

• No sufficiently specific rental evidence

• Special-condition legal, search, seller-cost and transfer-fee disbursements may apply

• Comparable sale prices vary substantially and property condition/specification are unknown

• Guide price is stated as plus fees

Recommendation

Proceed only after legal-pack review, inspection and firm refurbishment quotations. The opportunity appears more suitable for a refurbishment-led resale or BRRR assessment than BTL until rent evidence is obtained.

Strategy Rating

Analysis Confidence

There is useful same-street sold-price evidence, but refurbishment scope, rental evidence, legal disbursements and selling costs are unavailable.