87 Hilltop Road, Oakengates, Telford, Shropshire, TF2 6AZ

Description

A vacant freehold semi detached property, situated on a substantial plot, with development potential subject to planning.

Accommodation

Ground Floor: Hall, Two reception rooms, Kitchen, Store Room, Bathroom/WC (bathroom we were unable to inspect). First Floor: Landing, Three Bedrooms. Outside: Gardens, Driveway Parking. The property is in need of refurbishment throughout.

Location

Situated in a popular residential area of Oakengates, the property is within easy walking distance of local shops, schools, parks, bus routes and Oakengates railway station. Telford Town Centre is approximately two miles away and offers an extensive range of shopping, dining and leisure facilities, including the Southwater complex, cinema, bowling alley, ice rink and mainline railway station. Excellent road links also provide convenient access across Telford and the wider region.

Tenure / Property Information

Investment Analysis

The strongest evidence is the adjacent semi-detached sale at 91 Hilltop Road for £189,000 in April 2022. Earlier evidence includes £168,500 for the same property in 2019 and £112,000 for 89 Hilltop Road in 2017. A base GDV of £189,000 is therefore used, with £168,500 as a conservative supported scenario. The subject requires refurbishment throughout, its bathroom was not inspected, and any development potential remains subject to planning, so the comparable evidence should not be treated as a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, inspecting the property, obtaining a refurbishment budget and investigating the planning potential. Subject to those checks, a refurbishment-led resale or refinance strategy may be viable at a low acquisition price; do not rely on the headline guide yield alone.

Works Required

Refurbishment throughout as stated in the particulars. The bathroom requires inspection, and the legal pack, EPC and planning position should be reviewed before specifying further works. Any additional development would be subject to planning permission.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £19,000 guide, the known £2,700 administration charge would apply, but refurbishment costs and other completion costs are unknown. A 75% refinance against the £189,000 base GDV would be approximately £141,750. The apparent refinance surplus cannot be assessed reliably until works, purchase price, finance costs, taxes and other charges are known. Planning potential also requires separate confirmation.

Buy-to-Let Analysis

The only rental evidence is an advertised asking rent of £850 pcm, equivalent to £10,200 annually; no achieved rent or auctioneer estimate is supplied. Against the £19,000 guide this indicates a gross yield of approximately 53.7%, but this is not meaningful as a project return because refurbishment, acquisition costs, finance, voids, management, maintenance and the final purchase price are unknown. The yield on total cost cannot be established.

Flip Analysis

The evidence supports a potential resale benchmark around £189,000, with a conservative scenario of £168,500, based mainly on nearby or same-street completed sales. However, refurbishment costs, selling costs, the final purchase price and any planning-related expenditure are unavailable. A reliable flip surplus therefore cannot be calculated.

Investor Risks & Due Diligence

• Refurbishment is described as required throughout, but no cost estimate is supplied.

• The bathroom could not be inspected.

• Development potential is expressly subject to planning and is unverified.

• The £850 pcm figure is an advertised asking rent, not an achieved or passing rent.

• The final auction price may exceed the £19,000 guide.

• Additional legal-pack costs, taxes, finance costs and selling costs are unknown.

• The principal GDV comparable is a different property, although on the same road.

Recommendation

Proceed only after reviewing the legal pack, inspecting the property, obtaining a refurbishment budget and investigating the planning potential. Subject to those checks, a refurbishment-led resale or refinance strategy may be viable at a low acquisition price; do not rely on the headline guide yield alone.

Strategy Rating

Analysis Confidence

There is useful completed-sale evidence and one rental asking-price indication, but no refurbishment budget, full condition inspection, EPC details, planning evidence, final purchase price or complete cost schedule.