Apartment 70, Broadgate House, 2 Broad Street, Bradford, West Yorkshire

Description

This two-bedroom, top floor apartment (5th floor) is offered for sale via traditional auction. This property has character beams throughout and is particularly spacious. Overall, it’s 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

Same-building sold evidence ranges from £35,000 to £66,500. The median of the five sales is £50,000, with the latest sale at £56,000. A £50,000 base GDV is reasonable, but the wide variation and unknown flat-specific differences reduce confidence.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, leasehold charges and EPC implications; do not bid on current evidence without a verified rent and full cost budget.

Works Required

Minor cosmetic touch-ups only, as described. The EPC is F, but no specific improvement works or costs are evidenced.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £46,000 guide, the known buyer premium and minimum administration charge bring the cost to at least £49,780 before works, legal-pack disbursements and leasehold charges. This is close to the £50,000 base GDV, while 75% refinancing would provide approximately £37,500.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence was supplied. Ground rent, service charge and other leasehold costs are also unknown.

Flip Analysis

A flip appears weak at the guide because the guide plus known auction charges is already approximately £49,780, before refurbishment, resale costs and unknown disbursements. This leaves little margin against the £50,000 base GDV.

Investor Risks & Due Diligence

• Wide variation in same-building sold prices from £35,000 to £66,500.

• Ground rent and service charge remain unknown.

• EPC rating F may create additional compliance or improvement costs.

• Special-condition fees, legal fees, transfer fees and other disbursements may be payable.

• No sufficiently specific rental evidence is available.

• Leasehold property; the lease commenced on 01/01/2003 for 125 years, with approximately 101 years remaining at the analysis date.

Recommendation

Proceed only after reviewing the legal pack, leasehold charges and EPC implications; do not bid on current evidence without a verified rent and full cost budget.

Strategy Rating

Analysis Confidence

There are five same-building sold comparables, but no rent, works cost, service charge, ground rent or complete purchaser-cost information.