94 Acregate Lane, Preston, Lancashire

Description

Vacant Two Bedroom Terrace House. The property comprises of lounge, kitchen, utility, two bedrooms and bathroom. Located in popular residential area close to shops and schools.

Accommodation

Lounge, kitchen, utility, two bedrooms and bathroom.

Location

Located in popular residential area close to shops and schools.

Tenure / Property Information

Investment Analysis

Same-street completed sales range from £81,000 to £93,000 in the supplied evidence, with the two most recent sales at £92,000 and £93,000 in 2024. A base GDV of £92,000 is reasonable, subject to condition and legal-pack review. The £60,000 2022 sale indicates potential variability.

Investment Snapshot

Strategy Recommendation

Conditional BTL purchase near the guide, subject to inspection, legal-pack review and confirmation of achievable rent and total costs.

Works Required

No specific defects or works are evidenced. Inspect condition, services, EPC and legal matters before budgeting any refurbishment.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A potential BRRR exists because the guide is below the comparable evidence and 75% of the base GDV is approximately £69,000. However, total project cost cannot be established without condition, works and full fee information.

Buy-to-Let Analysis

At the £65,000 guide, supplied advertised rents of £800–£850 pcm imply approximately 14.77%–15.69% gross yield before costs. These are asking rents, not achieved rents, and refurbishment, finance, legal and other auction costs remain unquantified.

Flip Analysis

The base GDV is estimated at £92,000, but refurbishment costs, selling costs and full acquisition costs are unsupported. A reliable flip surplus or maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• Property condition and refurbishment requirements are not evidenced.

• Rental figures are advertised asking rents rather than achieved rents.

• Buyer/admin and possible special-condition costs may materially increase total cost.

• EPC, heating, parking and legal-pack details are incomplete.

• A reliable maximum bid and flip surplus cannot be calculated without works and full costs.

Recommendation

Conditional BTL purchase near the guide, subject to inspection, legal-pack review and confirmation of achievable rent and total costs.

Strategy Rating

Analysis Confidence

Good same-street sold-price and rental evidence is available, but condition, refurbishment, EPC, legal-pack disbursements and achieved rent are unconfirmed.