Apartment 503 Cardinal Court, Scholes Street, Oldham, OL1 3FU

Description

A studio apartment located on the fifth floor of Cardinal Court, within walking distance to Oldham Town Centre. The apartment can be accessed via a lift and internal inspection will reveal an open plan lounge, kitchen, and bedroom area, and a bathroom. The development also benefits from a communal laundry room.

Accommodation

First Floor; open plan Living/Kitchen Area; Shower Room. The description also states that the apartment is located on the fifth floor.

Location

Within walking distance of Oldham Town Centre, including a vast array of shopping facilities, food outlets, the Metrolink, and various bus routes.

Tenure / Property Information

Investment Analysis

Completed sales within Cardinal Court range from £41,500 to £58,000. Using the five supplied comparables, £46,000 is a reasonable evidence-based base GDV, with £41,500 low and £58,000 high scenarios. Rental listings indicate £650–£675 pcm, but these are asking rents.

Investment Snapshot

Strategy Recommendation

Consider only as a low-cost BTL subject to inspection, lease review and confirmation of achievable rent and service-charge liabilities. Do not bid without establishing total costs.

Works Required

No specific defects or refurbishment requirements are evidenced. Internal inspection is required; no works allowance has been assumed.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £46,000 base GDV, 75% refinancing would be approximately £34,500. Total project cost cannot be established because condition, works and full purchase costs are not evidenced, so cash left in and refinance equity cannot be reliably calculated.

Buy-to-Let Analysis

Indicative gross yield is approximately 19.5%–27.0% across the £30,000–£40,000 guide range using advertised rents of £650–£675 pcm. The £1,432.76 annual service charge and £500 ground rent materially reduce the return before other costs, voids and maintenance. Passing rent is not evidenced.

Flip Analysis

The supplied comparable range supports a base resale value of £46,000, but refurbishment costs, selling costs and condition are unknown. A reliable flip surplus cannot therefore be calculated.

Investor Risks & Due Diligence

• £1,432.76 annual service charge and £500 ground rent reduce net returns.

• Rental evidence consists only of advertised asking rents, not achieved or passing rent.

• Internal condition and any required works are unknown.

• The description conflicts on floor level, referring to both first and fifth floor.

• Buyer premium is unspecified and additional legal, transfer and seller-cost charges may apply.

• Leasehold terms and charges require legal and managing-agent verification.

Recommendation

Consider only as a low-cost BTL subject to inspection, lease review and confirmation of achievable rent and service-charge liabilities. Do not bid without establishing total costs.

Strategy Rating

Analysis Confidence

There are five same-development completed sales and three rental listings, but condition, works, passing rent, full purchase costs and selling costs are unavailable.