Apartment 70 Broadgate House, 2 Broad Street, Bradford, West Yorkshire, BD1 4QQ

Description

This two-bedroom, top floor apartment (5th floor) is offered for sale via traditional auction. The property has character beams throughout and is particularly spacious. Overall, it is in good internal condition, but may need some minor cosmetic touch-ups.

Accommodation

Fifth Floor: Living room, kitchen, two bedrooms and bathroom.

Location

Located directly in the city centre, close to a wealth of amenities including shops and transport links via train and bus.

Tenure / Property Information

Investment Analysis

Completed sales within Broadgate House range from £35,000 to £56,000. The most recent evidence is £35,000 in July 2025 and £56,000 in May 2026. A base GDV of £50,000 is used, with £35,000 as the low scenario and £56,000 as the high scenario. These are same-building comparables but not confirmed to be the subject apartment, so this is an indicative range only.

Investment Snapshot

Strategy Recommendation

Proceed only as a highly price-sensitive purchase after confirming the lease, ground rent, service charge, EPC implications, legal pack and achievable rent. Do not rely on the apparent spread or refinance figure without quantified costs. At the supplied guide, the margin appears too uncertain for a confident BTL, BRRR or flip recommendation.

Works Required

Minor cosmetic touch-ups only, as indicated by the description. No quantified works schedule or evidence of specific defects was supplied. The EPC is F, but no remedial specification or cost evidence is available.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £37,000 guide, the stated buyer premium is £1,680 and the minimum admin charge is £2,100, before any other auction, legal or refurbishment costs. A 75% refinance against the £50,000 base GDV would be £37,500, but total project cost and cash left in cannot be calculated because works and other charges are not quantified. The strategy is highly dependent on confirming the lease and running costs.

Buy-to-Let Analysis

BTL yield cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate was supplied. Ground rent and service charge are also unknown, and the EPC F rating may affect letting or improvement requirements. Confirm achievable rent, lease terms, service charge, ground rent and any letting restrictions before bidding.

Flip Analysis

Using the £50,000 base GDV, the gross value spread over the £37,000 guide is £13,000 before the £1,680 buyer premium, £2,100 minimum admin charge, refurbishment, legal, finance, selling and other costs. A reliable flip surplus cannot be calculated because refurbishment and selling allowances are unsupported. The low £35,000 comparable indicates meaningful downside risk before costs.

Investor Risks & Due Diligence

• Subject apartment is not confirmed as identical to the sold comparables used for the GDV range.

• No rental evidence or passing rent is supplied, so yield and rental coverage cannot be assessed.

• Ground rent and service charge are unknown.

• The lease commenced on 01/01/2003 for 125 years; remaining term and lease provisions should be verified from the legal pack.

• EPC rating is F, with no evidence of upgrade requirements or cost.

• Buyer premium, minimum admin charge and other potentially payable auction and legal costs reduce the apparent margin.

• Low comparable evidence of £35,000 is below the guide price, creating downside risk.

Recommendation

Proceed only as a highly price-sensitive purchase after confirming the lease, ground rent, service charge, EPC implications, legal pack and achievable rent. Do not rely on the apparent spread or refinance figure without quantified costs. At the supplied guide, the margin appears too uncertain for a confident BTL, BRRR or flip recommendation.

Strategy Rating

Analysis Confidence

There are several completed sales in the same building and clear auction pricing, but the subject-specific comparable match, rent, service charge, ground rent, refurbishment cost, legal costs and other charges are not supplied.