Apartment 4, 26 Garden Vale, Leigh, Lancashire WN7 5SY

Description

A one bedroom flat set in a purpose built block sold with vacant possession.

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

The latest supplied completed sale for the same address was £62,000 on 4 March 2025. Earlier supplied sales were £50,000 in June 2022. A cautious evidence-based GDV range is £50,000–£62,000, with £62,000 used as the base GDV. The £2,418 annual service charge is a material consideration, while condition, EPC, council tax and rental evidence are unavailable.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the lease, service-charge history and special conditions and confirming the flat's condition. The evidence supports potential value upside at the guide, but the lack of rental evidence prevents a reliable BTL case.

Works Required

No specific defects or refurbishment requirements are evidenced. Allow for inspection, cleaning and any minor works only if confirmed before bidding; no numeric refurbishment allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £62,000 base GDV, a 75% refinance is estimated at £46,500. Against the £43,600 guide-price total cost, this indicates approximately £2,900 released before finance, tax, works and other costs. The result depends heavily on achievable valuation and lender treatment of the leasehold service charge; no rent or finance terms are evidenced.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is supplied. At the £40,000 guide, the buyer premium is £3,600 due to the stated minimum, producing an analysed total cost of £43,600 before finance, tax and any works. The £2,418 annual service charge must be deducted from any eventual rent.

Flip Analysis

At the guide price, the analysed cost is £43,600 including the £3,600 minimum buyer premium and no refurbishment allowance. Against the £62,000 base GDV, this indicates £18,400 before selling costs, finance, tax and any works. A net flip surplus cannot be calculated because no selling-cost allowance or refurbishment cost is supplied.

Investor Risks & Due Diligence

• Annual service charge of £2,418 may materially reduce net rental returns.

• No sufficiently specific rental evidence is available, so gross and net yields cannot be established.

• Property condition and any refurbishment requirements are not evidenced.

• EPC and council-tax information are unavailable.

• Additional fees may appear in the Special Conditions of Sale.

• Leasehold obligations and service-charge history require legal and conveyancing review.

Recommendation

Proceed only after reviewing the lease, service-charge history and special conditions and confirming the flat's condition. The evidence supports potential value upside at the guide, but the lack of rental evidence prevents a reliable BTL case.

Strategy Rating

Analysis Confidence

Same-address completed sales and lease terms are supplied, but rental evidence, property condition, EPC, council tax, finance costs, selling costs and possible special-condition fees are unavailable.