89 Courtenay Road, Birmingham, B44 8JB

Description

A semi detached property standing back from the road behind a driveway and foregarden. The property benefits from double glazing, however it is in need of modernisation throughout.

Accommodation

Ground Floor: Porch, Hall, Through reception room, Kitchen. First Floor: Landing, Two Bedrooms, Bathroom/WC. Outside: Gardens and Driveway Parking and Rear Garage.

Location

Great Barr

Tenure / Property Information

Investment Analysis

The available completed sales are for the same road and semi-detached leasehold properties, ranging from £155,000 to £160,000 in 2018, but they are dated and do not evidence the value of this property with approximately eight years remaining on its lease. The short lease, required modernisation and unknown legal-pack costs make a reliable current GDV unavailable from the supplied evidence.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Proceed only after solicitor review of the short lease and special conditions, a survey and a properly supported valuation and works budget.

Works Required

Modernisation throughout as described by the auction particulars. The supplied evidence does not identify specific defects or provide sufficient information to cost individual works. Review the legal pack, lease terms and survey before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be reliably assessed. There is no supported current GDV, rent, refurbishment budget or refinance valuation, while the very short remaining lease is a material constraint to financing and exit options.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate was supplied. The approximately eight-year unexpired lease would also require careful lender and resale assessment.

Flip Analysis

A flip appraisal cannot be supported reliably. Although 2018 completed sales on the same road were £155,000 and £160,000, they do not establish the current resale value of this property with approximately eight years remaining on its lease. Works costs and selling costs are also unavailable.

Investor Risks & Due Diligence

• Approximately eight years remain on the stated 99-year lease, creating material valuation, mortgageability and resale risk.

• The property requires modernisation throughout, but no survey detail or refurbishment budget is supplied.

• The historic comparable sales are from 2018 or earlier and may not reflect current value or the effect of the short lease.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• A £2,700 administration charge is payable, with additional special-condition costs potentially payable on completion.

• Full lease and other legal details remain subject to review of the legal pack.

Recommendation

Do not bid on the supplied evidence alone. Proceed only after solicitor review of the short lease and special conditions, a survey and a properly supported valuation and works budget.

Strategy Rating

Analysis Confidence

The property description, tenure, vacancy, guide price, administration charge and historic same-road sales are provided, but current valuation, lease detail, refurbishment costs, rent, financing terms and additional completion costs are not.