Apartment 42, Martins Mill, Pellon Lane, Halifax, West Yorkshire, HX1 5QJ

Description

A readymade investment opportunity for landlords, investors and developers. A tenanted and spacious one-bedroom apartment within the popular Martins Mill development, with a modern, low-maintenance layout comprising an entrance hall, spacious open-plan kitchen/living area, double bedroom and bathroom. The current tenancy commenced on 1st October 2025 at a monthly rental of £600.

Accommodation

Ground Floor: Communal Entrance. Third Floor Flat: Entrance Hall, Open Plan Living/Dining/Kitchen Area, Master Bedroom and Bathroom.

Tenure / Property Information

Investment Analysis

Five completed sales within Martins Mill range from £40,000 to £55,000, averaging £46,600. The two latest supplied sales were £52,000 and £55,000. A base GDV of £52,000 is supported by the comparable evidence, although the spread indicates unit-specific differences may exist. The £1,800 buyer documentation fee is included in cost calculations; any seller fees remain unknown.

Investment Snapshot

Strategy Recommendation

Consider only as a yield-led, tenanted buy-to-let if the tenancy, service-charge position and seller special conditions are satisfactory. It is not supported as a flip, while a BRRR exit would leave substantial cash invested.

Works Required

No refurbishment works are evidenced. The apartment is described as modern and low-maintenance, but inspection and confirmation of the tenancy and lease obligations would be required before purchase.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £52,000 base GDV, a 75% refinance is £39,000. Against the £53,800 purchase price plus known documentation fee, indicative cash left in is £14,800, before finance, tax, legal costs, seller fees and any works. The calculation assumes no refurbishment allowance because none is evidenced.

Buy-to-Let Analysis

At the current rent of £600 pcm, annual gross rent is £7,200 and gross yield is approximately 13.85% on the £52,000 guide, or 13.38% including the £1,800 documentation fee. The stated 2026 service charge and ground rent total £2,447.75, reducing rent after those charges to £4,752.25 before other ownership, finance, tax and management costs. The tenant is in situ, but no external rental comparables or full tenancy terms are supplied.

Flip Analysis

A resale value around the base GDV of £52,000 is supported by the sales evidence, but the property is sold tenanted and no supported selling-cost allowance is provided. Before selling costs, the base GDV is £1,800 below the guide price plus the known documentation fee, so a flip does not show a surplus on the supplied figures.

Investor Risks & Due Diligence

• Service charge of £2,151.02 and ground rent of £296.73 are stated for 2026 and materially reduce income after charges.

• The property is sold with the tenant in situ, so vacant possession and future letting assumptions are not available.

• Seller fees may apply but are not quantified in the supplied evidence.

• No external rental comparables or auctioneer rent estimate are supplied.

• The completed-sale evidence ranges widely from £40,000 to £55,000, creating valuation uncertainty.

• Finance, tax, insurance, management, legal and selling costs are not included.

Recommendation

Consider only as a yield-led, tenanted buy-to-let if the tenancy, service-charge position and seller special conditions are satisfactory. It is not supported as a flip, while a BRRR exit would leave substantial cash invested.

Strategy Rating

Analysis Confidence

There are five local completed sales and a stated passing rent, lease, service charge and ground rent. However, no external rental comparables, inspection evidence, full tenancy terms, refurbishment budget or seller-fee details are supplied.