Flat 13 Knights Court, Canterbury Gardens, Salford, M5 5AB

Description

A great opportunity for buyers looking to renovate and resell, or for those seeking an affordable home in a popular Salford location. The property is sold with VACANT POSSESSION.

Accommodation

Entrance hall, two double bedrooms, bathroom, kitchen and reception room with a balcony overlooking the communal gardens.

Location

Well positioned close to Salford Royal Hospital, Ladywell tram stop, M602 motorway links, Salford Quays/Media City, and West One Retail Park.

Tenure / Property Information

Investment Analysis

Five same-address leasehold sales range from £74,000 to £125,000, with a median of £97,000. The £125,000 sale is the highest and may not represent the subject property's value because sale-specific condition and lease lengths are unavailable. A 60-year lease and £3,072 annual service charge are material value and finance considerations. The £53,000 guide is substantially below the comparable range, but refurbishment, transaction costs and lease-extension implications are unquantified.

Investment Snapshot

Strategy Recommendation

Proceed only after verifying the lease, obtaining lease-extension and mortgageability advice, inspecting the flat and pricing all renovation and transaction costs. Do not rely on the £97,000 GDV without lease-adjusted evidence.

Works Required

Renovation to the buyer's required standard is suggested by the description, but no detailed condition report or scope of works is supplied. Obtain a full inspection and contractor quotations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £97,000 base GDV, a purely mathematical 75% refinance figure is £72,750. However, refurbishment costs, acquisition costs, finance costs, rent and lender acceptance of the 60-year lease are unknown, so cash left in and refinance viability cannot be determined.

Buy-to-Let Analysis

BTL appraisal cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is provided. The £3,072 annual service charge must be accounted for, and the 60-year lease may restrict mortgageability and lettability; lender and lease requirements require confirmation.

Flip Analysis

A resale strategy has some support from the same-address sales, with a £97,000 median, but the evidence does not establish the subject property's condition, lease-adjusted value or refurbishment budget. Flip surplus cannot be calculated without works, transaction costs and selling costs.

Investor Risks & Due Diligence

• Only 60 years remain on the lease, creating potential lease-extension and mortgageability issues.

• Annual service charge is £3,072 and may materially reduce investment returns.

• No sufficiently specific rental evidence is available, so rental yield cannot be established.

• Property condition and renovation scope are not provided.

• Comparable sale lease lengths and condition are unavailable, limiting lease-adjusted GDV confidence.

• Buyer, administration, finance and resale costs are not supplied.

Recommendation

Proceed only after verifying the lease, obtaining lease-extension and mortgageability advice, inspecting the flat and pricing all renovation and transaction costs. Do not rely on the £97,000 GDV without lease-adjusted evidence.

Strategy Rating

Analysis Confidence

Same-address completed-sale evidence is available, but sale-specific lease terms, condition, rental evidence, refurbishment costs, buyer fees and selling costs are missing.