9 Rugby Court, Grantham, Lincolnshire, NG31 6HZ

Description

A second floor two bedroom flat in a purpose built block offered with vacant possession, ideal for a landlord investor. The flat offers a lounge, kitchen, two bedrooms, a bathroom and gas central heating. There is a numbered parking space in the car park. Note: There is no main door access key. There is currently no fob available for access to the communal entrance; purchasers should be aware that a fob will not be provided upon completion.

Accommodation

Hall, lounge, kitchen, two bedrooms and a bathroom.

Location

Grantham offers a variety of facilities including a main line rail link into Peterborough and London Kings Cross.

Tenure / Property Information

Investment Analysis

HM Land Registry evidence shows Rugby Court sales from £75,000 to £87,000, including 14 Rugby Court at £87,000 on 28 May 2026. A base GDV of £80,000 is a cautious estimate, but the comparables do not confirm matching size, condition, floor, service charges or lease terms. The guide plus the stated buyer premium and admin charge is £43,880 before any other costs. No sufficiently specific rental evidence is available.

Investment Snapshot

Strategy Recommendation

Conditional hold only: obtain the legal pack, inspect the property and communal access, confirm service charge and ground rent, assess the remaining lease and obtain rental evidence before bidding. Avoid relying on BTL or BRRRR assumptions without those inputs.

Works Required

No physical refurbishment works are evidenced. Before purchase, arrange lawful access to inspect the flat and communal areas, as no main-door key or communal-entry fob is available. Any remedial works, service-charge obligations or access costs require confirmation from the legal pack or inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the estimated £80,000 base GDV, 75% refinance would be approximately £60,000. Total project cost cannot be calculated because refurbishment costs and other potential legal, search, seller-cost, transfer, service-charge and finance costs are unsupported. The approximately 71-year lease term remaining in 2026 may affect refinancing and should be investigated.

Buy-to-Let Analysis

BTL appraisal cannot establish rent or gross yield because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The vacant possession, EPC C and parking space may be relevant to letting, but service charge, ground rent and other lease costs are unknown. Do not underwrite on rent without evidence.

Flip Analysis

The evidence suggests a broad comparable value range of £75,000 to £87,000, with a cautious base GDV of £80,000. A flip surplus cannot be calculated because works, selling costs and several acquisition costs are unknown. The missing access fob/key also prevents proper inspection and condition assessment.

Investor Risks & Due Diligence

• No main-door access key or communal entrance fob is available, preventing proper inspection and creating an access issue.

• The lease began on 1 March 1999 for 99 years, leaving approximately 71 years in 2026; extension terms and cost are unknown.

• No sufficiently specific rental evidence is supplied, so rental income and yield cannot be established.

• Condition and refurbishment requirements are unknown because inspection access is unavailable.

• Service charge, ground rent and other leasehold liabilities are not supplied.

• Additional search fees, seller-cost reimbursement, legal fees and transfer fees may apply.

• Comparable sales do not confirm matching size, condition, floor or lease terms.

Recommendation

Conditional hold only: obtain the legal pack, inspect the property and communal access, confirm service charge and ground rent, assess the remaining lease and obtain rental evidence before bidding. Avoid relying on BTL or BRRRR assumptions without those inputs.

Strategy Rating

Analysis Confidence

There are several same-block completed sales and known auction charges, but no inspection, condition information, rental evidence, service-charge or ground-rent details, full legal costs, or confirmed comparable specifications.