Apartment 2, 26 Garden Vale, Leigh, Lancashire WN7 5SY

Description

A one bedroom flat set in a purpose built block sold with vacant possession. The property comprises of secure communal entrance, entrance hallway, lounge/kitchen, bedroom and bathroom. Externally there are communal gardens and a private car park for residents. Conveniently positioned close to local schools, shops and everyday amenities, the property also benefits from good transport links into Leigh town centre and neighbouring towns.

Accommodation

Secure communal entrance, entrance hallway, lounge/kitchen, bedroom and bathroom.

Location

Conveniently positioned close to local schools, shops and everyday amenities, with good transport links into Leigh town centre and neighbouring towns.

Tenure / Property Information

Investment Analysis

Completed-sale evidence at the supplied address shows £50,000 in June 2022 and £62,000 in March 2025. A base GDV of £62,000 is supported by the latest sale, with a low scenario of £50,000. The comparables are not confirmed as the same flat, and no condition evidence or rental evidence is supplied. The annual service charge is £2,418, plus £100 ground rent.

Investment Snapshot

Strategy Recommendation

Proceed only after verifying that the sold comparables relate to this flat or an equivalent unit, reviewing the lease and block accounts, and confirming service-charge liabilities. The available evidence does not support a firm BTL, BRRR or flip bid.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, lease and block-document review, and only price works once the flat’s actual condition is confirmed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the base GDV, 75% refinance is approximately £46,500. At the £40,000 guide, the buyer premium is £3,600 due to the stated minimum, giving £43,600 before works, finance, conveyancing and other possible fees. However, total project cost and refinance cash position cannot be established without works, finance and other cost evidence.

Buy-to-Let Analysis

BTL appraisal cannot be completed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £2,418 annual service charge and £100 ground rent would materially reduce net income, and should be verified before bidding.

Flip Analysis

The latest supplied completed sale supports a £62,000 GDV against the £40,000 guide, but a reliable flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs and other acquisition costs are not supplied. The latest comparable may not be the same flat.

Investor Risks & Due Diligence

• Annual service charge of £2,418 may materially affect affordability, resale and rental returns.

• Annual ground rent of £100 is payable under the lease.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• No condition evidence or refurbishment budget is supplied.

• The sold comparables are recorded at the same address but are not confirmed as Apartment 2.

• Additional fees may be stated in the Special Conditions of Sale.

• EPC, council tax and heating information are not supplied.

Recommendation

Proceed only after verifying that the sold comparables relate to this flat or an equivalent unit, reviewing the lease and block accounts, and confirming service-charge liabilities. The available evidence does not support a firm BTL, BRRR or flip bid.

Strategy Rating

Analysis Confidence

There is recent completed-sale evidence and clear tenure, lease and service-charge information, but the comparables are not confirmed as the same unit, while rent, condition, EPC, council tax, heating, finance costs and selling costs are absent.