Flat 1 & 2, 3 Holly Road, Flat 1 & 2, 5 Holly Road, Retford, Nottinghamshire, DN22 6BE

Description

An excellent opportunity to acquire a block of four flats, all currently tenanted and generating an impressive rental income of £2,350 PCM. This property offers buyers a ready-made investment opportunity to create a property portfolio or to add to an already established one.

Accommodation

Flat 1, 3 Holly Road: Ground Floor: Entrance Hall, Lounge, Kitchen, Bathroom & Two Bedrooms. Flat 2, 3 Holly Road: First Floor: Entrance Hall, Lounge, Kitchen, Bathroom & Balcony. Second Floor: Landing, Two Bedrooms. Flat 1, 5 Holly Road: Ground Floor: Entrance Hall, Lounge, Kitchen, Bathroom & Two Bedrooms. Flat 2, 5 Holly Road: Ground Floor: Entrance Hall, Lounge, Kitchen, Bathroom & Balcony. Second Floor: Landing, Two Bedrooms. External: Communal Rear Garden.

Location

Located just off the highly regarded London Road in the Georgian market town of Retford, with local amenities including bars, restaurants and shops. The area is served by road and rail links. Retford Train Station, on the East Coast Main Line, offers direct services to London King’s Cross in under 90 minutes at selected times and is within comfortable walking distance.

Tenure / Property Information

Investment Analysis

The £265,000 guide implies a gross annual rent of £28,200 and a gross yield of approximately 10.64% before costs. No completed sales, valuation evidence, tenancy schedule, lease information or condition details were supplied, so GDV and market value cannot be independently estimated. The stated rent is current rental income, but its net position and tenancy terms are unverified.

Investment Snapshot

Strategy Recommendation

Prioritise income-led BTL due to the stated existing rent. Proceed only after verifying the rent roll, tenancy agreements, payment history, property condition, legal title and all auction special conditions.

Works Required

No works are evidenced. Undertake inspections and verify the condition of all four flats, communal areas, garden and services before budgeting any refurbishment.

Rental & Market Context

Potential BRRR Position

A BRRR assessment cannot be completed because no GDV, completed sales, refinance valuation or refurbishment budget is supplied. The current rent may support an investment case, but refinancing proceeds and post-refinance cash position are unquantifiable.

Buy-to-Let Analysis

At the £265,000 guide, the supplied £2,350 PCM rental income produces £28,200 gross annual rent and a calculated gross yield of 10.64%. Including the known £1,800 buyer administration charge, the cost used is £266,800 and the gross yield is approximately 10.57%. This excludes finance, tax, insurance, maintenance, management, voids, compliance costs and any seller charges. The income and tenancy terms require documentary verification.

Flip Analysis

A flip appraisal is unsupported because no GDV, comparable sales, condition assessment, refurbishment costs or selling-cost allowance has been provided. The property is described as four tenanted flats, so vacant possession, tenancy terms and any resale constraints would also require verification.

Investor Risks & Due Diligence

• The stated £2,350 PCM income and all tenancy terms require documentary verification.

• Seller charges may apply under the Special Conditions of Sale but are not quantified.

• No condition, maintenance or refurbishment information has been supplied for the four flats or communal areas.

• Parking and heating arrangements are not supplied.

• No completed comparable sales or other market-value evidence has been provided.

• The calculated yields exclude finance, tax, insurance, maintenance, management, voids, compliance costs and potentially applicable seller charges.

Recommendation

Prioritise income-led BTL due to the stated existing rent. Proceed only after verifying the rent roll, tenancy agreements, payment history, property condition, legal title and all auction special conditions.

Strategy Rating

Analysis Confidence

The guide price, tenure, occupancy and current rental income are supplied, allowing a headline yield calculation. However, there are no completed sales, GDV evidence, tenancy details, condition information, refurbishment costs, finance terms or complete fee schedule.