Flat 1, 25 Park Drive, Harrogate, West Yorkshire HG2 9AY

Description

This three bedroom lower ground floor apartment with private courtyard is offered for sale via traditional auction. The property does require some internal improvement but could make a great project or apartment for a homeowner.

Accommodation

Ground Floor: Lounge/kitchen area, three bedrooms (one with en-suite) and a bathroom.

Location

The apartment enjoys a delightful position adjoining the Oval Gardens, just a short walk from Harrogate town centre and the Stray.

Tenure / Property Information

Investment Analysis

Same-street leasehold flat sales range from £275,000 to £482,000. The comparables are not size, condition or specification matched, so £379,500 is a provisional base GDV, with a wide evidence-supported range of £275,000–£482,000.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, confirming lease charges and obtaining a refurbishment quotation. Treat the guide-level yield as preliminary and bid conservatively.

Works Required

Internal improvement is required, but the evidence does not specify defects or scope. Obtain inspection, contractor pricing and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the provisional £379,500 base GDV, 75% refinance is £284,625. Cash required after refinance cannot be calculated because refurbishment and total acquisition costs are unsupported. Lease costs and valuation comparability require verification.

Buy-to-Let Analysis

The advertised asking rent is £1,395 pcm, implying £16,740 annual rent and 8.17% gross yield against the £205,000 guide. True yield cannot be established without works, service charge, ground rent, legal costs and other auction disbursements.

Flip Analysis

The provisional GDV range is £275,000–£482,000, but no refurbishment allowance or supported selling-cost allowance is available. Flip surplus therefore cannot be calculated reliably.

Investor Risks & Due Diligence

• Unknown ground rent and service charge

• Unquantified internal improvement works

• Comparable sales vary substantially and may not match the subject flat

• Additional legal, search, seller-cost and transfer disbursements may apply

• The rental figure is an advertised asking rent, not achieved rent

Recommendation

Proceed only after reviewing the legal pack, confirming lease charges and obtaining a refurbishment quotation. Treat the guide-level yield as preliminary and bid conservatively.

Strategy Rating

Analysis Confidence

There is useful same-street sales and rental evidence, but comparability, condition, refurbishment cost, lease charges and additional auction costs are unresolved.