Apartment 16, Vm1, Salts Mill Road, Shipley, West Yorkshire BD17 7EE

Description

This well presented one bedroom ground floor apartment in the highly sought after Victoria Mills development is offered with vacant possession and likely to be of interest to those looking for an affordable home or investment.

Accommodation

Ground floor: lounge/kitchen area, bedroom and bathroom.

Location

Within walking distance of Shipley and Saltaire town centres and the amenities and transport links they offer. The site benefits from an on-site gym, tennis court, security including gates and a restaurant.

Tenure / Property Information

Investment Analysis

Comparable sales in the same development range from £43,000 to £120,000. The £120,000 sale is materially above the other evidence; £62,000 is used as the base GDV, with £43,000 and £120,000 as low and high reference points. Exact flat size, condition comparability and lease/service-charge details are unavailable.

Investment Snapshot

Strategy Recommendation

Proceed only subject to confirming lease terms, ground rent, service charge, disbursements and resale comparability. The evidence supports a cautious owner-occupier or value-led purchase rather than a proven BTL strategy.

Works Required

No specific works are evidenced; the apartment is described as well presented. Allowance excludes unknown service-charge, lease and legal matters.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £47,500 guide, known purchase costs are £3,000 (£900 buyer premium plus £2,100 minimum administration charge), producing a £50,500 base cost before any further disbursements or finance costs. A 75% refinance of the £62,000 base GDV would be £46,500, leaving approximately £4,000 in the property before finance and tax.

Buy-to-Let Analysis

BTL yield cannot be established. The only rental evidence is a £1,159 pcm commercial asking rent and is not appropriate evidence for this apartment. Ground rent and service charge remain unknown.

Flip Analysis

Using the £62,000 base GDV, the gross spread over the £50,500 base cost is £11,500 before selling costs, finance, tax and any unknown disbursements. No supported selling allowance is available, so net flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Wide variation in same-development comparable sale prices.

• Ground rent and service-charge information is outstanding.

• Additional purchaser disbursements and special conditions are unconfirmed.

• No suitable residential rental evidence is supplied.

• Leasehold costs and terms may affect resale and refinancing.

Recommendation

Proceed only subject to confirming lease terms, ground rent, service charge, disbursements and resale comparability. The evidence supports a cautious owner-occupier or value-led purchase rather than a proven BTL strategy.

Strategy Rating

Analysis Confidence

Several same-development sales are available, but values vary substantially and rent, service charge, ground rent, exact size, condition comparability and additional fees are incomplete.