Flat 1, 15 Hutt Street, Hull, East Yorkshire

Description

A ground floor studio flat. The property forms part of a two storey mid terrace property. Shared rear garden. In need of modernisation. Vacant.

Accommodation

Ground Floor - Entrance Hallway, Studio Room, Bathroom/WC, Kitchen.

Location

Hull is a city in East Yorkshire. Located on the east side of Hutt Street. A range of local amenities are available nearby on Spring Bank and Princess Avenue with a broader range of amenities in Hull City Centre (approximately 0.8 miles). Recreational amenities of Peel Street Park and Pearson Park are available locally. Transport Hull - Hull Trains, Transpennine Express, Northern, LNER.

Tenure / Property Information

Investment Analysis

The £20,000 guide is the only price evidence and is not a formal valuation. No completed sales, sufficiently specific rental comparables, lease details, buyer costs or refurbishment cost evidence were supplied. GDV, rent and returns therefore cannot be reliably established.

Investment Snapshot

Strategy Recommendation

Do not proceed on the supplied evidence alone. Obtain the lease, service-charge and ground-rent information, inspect the flat, obtain refurbishment quotations and establish local sales and rental evidence before bidding.

Works Required

Modernisation of the entrance hallway, studio room, bathroom/WC and kitchen, subject to inspection. No specific defects or required works beyond the stated need for modernisation have been evidenced.

Rental & Market Context

Potential BRRR Position

A purchase, modernisation and refinance assessment cannot be supported because GDV, refurbishment costs, rent, lease terms and ownership costs are unavailable. The £20,000 guide alone is insufficient to assess refinance viability.

Buy-to-Let Analysis

The flat is vacant, but no sufficiently specific external rental comparable or auctioneer rent estimate was supplied. Rental income and yield cannot therefore be established. Lease terms, service charges and other ownership costs are also unknown.

Flip Analysis

A resale surplus cannot be calculated because there is no completed-sales evidence, GDV, refurbishment allowance, buyer-cost information or supported selling-cost allowance. The property is described as needing modernisation, creating unquantified project risk.

Investor Risks & Due Diligence

• Lease length, ground rent and service-charge liabilities are not provided.

• The property is vacant and no supported market rent is available.

• The flat is stated to need modernisation, but the scope and cost are unknown.

• No completed-sales evidence is available to support GDV or resale value.

• Buyer, administration and other auction costs are not provided.

• The property has a shared rear garden and no parking or heating details were supplied.

Recommendation

Do not proceed on the supplied evidence alone. Obtain the lease, service-charge and ground-rent information, inspect the flat, obtain refurbishment quotations and establish local sales and rental evidence before bidding.

Strategy Rating

Analysis Confidence

Only a guide price, basic description, vacant status, leasehold tenure and EPC rating were supplied; key valuation, rental, lease and cost evidence is absent.