98 Upgate, Louth, LN11 9JN

Description

Formally a handsome early Victorian townhouse, this delightful period property has been in the past converted into two self-contained flats. This grade II listed property offers excellent versatility, it would also lend itself perfectly to being restored into a single elegant residence once again, subject to necessary consents. Situated within the towns conservation area, the property retains many original and character features, showcasing the charm and craftsmanship of the early Victorian period and is located just a short distance from the town centre which enjoys a wide range of shops, cafés and local amenities.

Accommodation

Communal Entrance Hall with hardwood front door and fan light over, cornicing to ceiling, radiator and electric consumer unit. Ground Floor Flat: lounge measuring 3.96 x 5 metres; inner hallway with under-stairs cupboard and further built-in storage cupboard; bedroom/dining room measuring 3.6 x 3.71 metres; bathroom measuring 1.55 x 2.6 metres; kitchen measuring 2.92 x 2.91 metres. First Floor Flat: landing with access to roof space, radiator, original staircase handrail and newel posts, and built-in cupboards; lounge measuring 2.82 x 3.99 metres; bathroom measuring 1.6 x 3.58 metres; bedroom measuring 2.79 x 3.62 metres; bedroom two measuring 2.94 x 2.3 metres; kitchen measuring 3 x 4.7 metres; attic room measuring 3.09 x 4.72 metres. Outside: small raised gravel garden to the front. Rear split-level garden with courtyard, steps, timber deck, paved footpath, patio, gravel bed, small brick store and gate to a shared pathway leading to South Street.

Location

Situated within the town’s conservation area, a short distance from Louth town centre, which offers shops, cafés and local amenities.

Tenure / Property Information

Investment Analysis

Indicative GDV range of £130,000–£198,950 is supported by the supplied same-street evidence, but the comparables are mixed: £130,000 was a flat/maisonette sale in 2026, while the £175,000 and £198,950 sales were terraced properties in 2021 and 2022. A base GDV of £175,000 is therefore only a broad working estimate, not a formal valuation. The subject’s Grade II listing, conservation-area setting, prior flat conversion and unknown condition, tenure and consents create material uncertainty. At the £110,000 guide, the 4.8% buyer fee is subject to the £6,000 minimum, giving £116,000 before works and other costs.

Investment Snapshot

Strategy Recommendation

Proceed only subject to legal, planning/listed-building and building-survey due diligence. The opportunity is best treated as a conditional value-add or flexible residential project rather than an underwritten BTL or flip until costs, consents and rents are verified.

Works Required

A survey is required before specifying works. The property may require restoration or reconfiguration from two flats into one residence, or compliance and upgrading of the existing flat arrangement. Any structural, layout or external changes may require listed-building, planning or conservation-area consents; no specific defects or works costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the broad £175,000 base GDV, a 75% refinance would be approximately £131,250. This does not demonstrate cash release because refurbishment, acquisition, finance, legal, tax and other project costs are unknown. The strategy is particularly dependent on confirming the existing flat conversion or obtaining consents for any proposed reconfiguration.

Buy-to-Let Analysis

BTL analysis cannot be quantified because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. The property has accommodation described as two self-contained flats, but the legality, compliance, tenancy status and achievable rent are unconfirmed. Gross yield, operating costs and maximum purchase price therefore cannot be established.

Flip Analysis

A flip appraisal cannot be completed reliably. The supplied evidence supports a broad resale range, but refurbishment costs, condition, selling costs and the legal position of the two-flat arrangement are not provided. Any surplus calculation would therefore be speculative.

Investor Risks & Due Diligence

• Unknown condition and refurbishment cost.

• Grade II listed status and conservation-area location may restrict works and increase consent requirements.

• Legal status and compliance of the historic conversion into two self-contained flats are unconfirmed.

• No reliable rental evidence, passing rent or occupancy information is supplied.

• Tenure, lease information and additional special-condition fees are unknown.

• The comparable sales vary materially by property type and date, limiting GDV certainty.

• Buyer fee is subject to a £6,000 minimum, with additional acquisition and project costs not supplied.

Recommendation

Proceed only subject to legal, planning/listed-building and building-survey due diligence. The opportunity is best treated as a conditional value-add or flexible residential project rather than an underwritten BTL or flip until costs, consents and rents are verified.

Strategy Rating

Analysis Confidence

There are several same-street completed sales and a stated guide price, but no condition survey, EPC, tenure, occupancy, rental evidence, refurbishment budget, legal pack or confirmed flat-conversion consents.