9 Water Street, Ribchester, Preston, Lancashire

Description

Vacant Two Bedroom Mid Terrace Cottage

Accommodation

The property comprises of lounge, dining room, kitchen, two bedrooms and a bathroom. Externally there is a garden to the rear.

Location

Located in the charming village of Ribchester which benefits from a good range of cafés and hostelries as well as a post office/general store, and is well placed for transport links.

Tenure / Property Information

Investment Analysis

Same-street sold comparables range from £159,950 to £318,000, with the two newest sales at £159,950 and £212,500. However, bedroom count, condition and specification are not supplied for the comparables, so no reliable GDV or valuation range can be established. The guide is £110,000, plus a minimum £3,600 admin charge and potentially further legal-pack costs.

Investment Snapshot

Strategy Recommendation

Do not bid on current evidence. Obtain the legal pack, inspect the property and establish local two-bedroom rental and comparable-sale evidence before considering purchase.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow only for inspection-led works, compliance checks and any normal redecoration or repairs identified after viewing; no quantified allowance is supportable.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be completed without a defensible GDV, refurbishment budget, rent and finance assumptions. Refinance proceeds and cash left in are therefore unsupported.

Buy-to-Let Analysis

A BTL assessment cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The property is vacant and the minimum known acquisition cost is £113,600 before any disbursements or works.

Flip Analysis

A flip appraisal cannot be quantified. Although nearby completed sales provide broad context, differences in bedroom count, condition and specification prevent a reliable resale GDV or surplus calculation.

Investor Risks & Due Diligence

• No sufficiently specific rental evidence is available.

• Comparable sale prices vary materially and lack bedroom and condition details.

• Property condition and refurbishment requirements are not evidenced.

• Minimum £3,600 admin charge applies, with possible additional legal-pack disbursements and seller-related charges.

• The property is vacant, so there is no passing rental income.

Recommendation

Do not bid on current evidence. Obtain the legal pack, inspect the property and establish local two-bedroom rental and comparable-sale evidence before considering purchase.

Strategy Rating

Analysis Confidence

Recent same-street sales are available, but comparable specifications, property condition, rental evidence, refurbishment costs and legal-pack charges are incomplete.