Apartment 47, Keppel Wharf, Market Street, Rotherham S60 1NU

Description

Description A modern two bedroom apartment well located in the town centre which is currently let subject to an AST which produces £9,000 per annum (£750 pcm) to well established tenants.

The property is in very good order and comprises an entrance hall, open plan living / kitchen / dining space, two bedrooms and a bathroom.

Accommodation Apartment Entrance Hall, Open Plan Living / Kitchen / Dining Space, Bedroom One, Bedroom Two, Bathroom Tenure Leasehold Occupancy Subject to a tenancy

Investment Analysis

Investment Snapshot

Underwriting basis. This is an indicative desktop appraisal. GDV is an estimated post-works/open-market value, not a guaranteed valuation. Comparable research is widened from the same street/postcode to the surrounding market up to approximately five miles where necessary.

Market Comparables

• HB 5-mile market proxy: comparable local sale/asking evidence supports a working post-works midpoint around £70,238

• Low case set 8% below midpoint (£65,000) to reflect condition/comparable uncertainty

• High case set 8% above midpoint (£76,000) for a strong investor-standard finish

HB estimated GDV: £65,000 low / £70,000 base / £76,000 high. The range reflects comparable quality, condition and the fact that auction stock can trade below normal owner-occupier market value.

Proposed Works

The allowance follows the auction description/visible condition and investor-standard refurbishment scope. It is not a structural survey or contractor quotation.

Rental Value

Working market rent is approximately £750 pcm (£9,000 pa). For scenario testing, use roughly £690 / £750 / £810 pcm for low/base/high cases. This is an indicative market-rent estimate and should be read alongside any passing tenancy stated by the auctioneer.

Low / Base / High Investment Scenario

Buy-to-Let

Base rent £750 pcm gives 16.4% gross yield on guide and 13.2% on guide plus midpoint works. These are gross yields before voids, repairs, management, insurance and finance.

BRRR Analysis

Guide £55,000 + midpoint works £13,250 + auction fee allowance £990 + legal/valuation £1,500 + indicative six-month bridge/arrangement cost £2,502 + holding allowance £1,500 gives a pre-SDLT all-in cost of approximately £74,742. At base GDV £70,000, a 75% refinance is £52,500, leaving approximately £22,242 capital in before SDLT. Low/high refinance outcomes are £48,750 / £57,000.

Flip Analysis

Using base GDV £70,000, pre-SDLT all-in cost £74,742 and selling/legal allowance £1,794, indicative pre-tax/pre-SDLT flip surplus is £-6,536. That is approximately -8.7% profit on cost and -9.3% of GDV. A 5% sale-price reduction and 15% works overrun should be stress-tested before bidding.

Maximum Bid Indicator

For an indicative 15% pre-tax profit-on-cost target before SDLT, the desktop purchase ceiling is approximately £42,815. This is a screening figure, not a formal valuation or bidding recommendation.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★☆☆ | Flip: ★★☆☆☆

Key Risks

Confirm legal title/tenure, occupancy, planning/licensing, service charge/ground rent where relevant, structural condition, utilities, abnormal works and finance terms. Market comparables are indicative and should be refreshed immediately before bidding.