Flat 16, 108 Thornton Road, Bradford, West Yorkshire BD1 2DX

Description

This two bedroom, two bathroom second floor apartment is offered for sale via traditional auction. This property is currently tenanted generating a gross rental income of £9,000 making this a great addition to a rental portfolio.

Accommodation

Second Floor: lounge/dining area, kitchen, two bedrooms, ensuite and bathroom.

Location

The Old Mill is situated on Thornton Road BD1, directly opposite Arkwright Hall, a stone's throw away from Bradford University and conveniently set in the heart of the City Centre with easily accessible transport links, including public buses and trains. The development is a former textile mill renovated to a modern residential apartment building.

Tenure / Property Information

Investment Analysis

Recent completed sales at the same building/address range from £50,000 to £59,000 in 2023–2025, with older sales higher. These are not confirmed flat-specific comparables, so £50,000 is used as the cautious base GDV, with a £50,000–£59,000 evidence range.

Investment Snapshot

Strategy Recommendation

Consider as a cautious income-led BTL acquisition, subject to verifying the tenancy, rent, lease and service-charge position. Do not rely on the refinance or flip assumptions without lender and legal confirmation.

Works Required

No refurbishment works are evidenced. Verify condition, tenancy, lease, service-charge position and legal-pack requirements before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the guide, known purchase costs total £27,460 before any further auction, legal or finance costs. A 75% refinance of the £50,000 base GDV indicates £37,500, theoretically exceeding these known costs by £10,040, subject to valuation, lender criteria, tenancy and leasehold charges.

Buy-to-Let Analysis

The stated gross rent is £9,000 annually (£750 pcm), producing a 36% gross yield on the £25,000 guide and 32.8% on the guide plus known admin and search costs. Ground rent and service charge total £3,232.56 annually before other costs, materially reducing net income. Tenancy and rent evidence should be verified.

Flip Analysis

A £50,000 base GDV less the guide and known quantified costs indicates £22,540 before selling costs, finance, tax and any works. A reliable flip surplus cannot be established because selling allowances, exact flat comparables and refurbishment costs are unsupported.

Investor Risks & Due Diligence

• The stated £9,000 rent and tenancy terms require verification.

• Annual ground rent and service charge total £3,232.56 before other ownership costs.

• Comparable sales are recorded for the building/address rather than confirmed Flat 16.

• Further legal, transfer, seller-cost and disbursement charges may apply.

• Refinance depends on lender valuation, leasehold criteria and affordability.

• No refurbishment or selling-cost allowance is evidenced.

Recommendation

Consider as a cautious income-led BTL acquisition, subject to verifying the tenancy, rent, lease and service-charge position. Do not rely on the refinance or flip assumptions without lender and legal confirmation.

Strategy Rating

Analysis Confidence

A current rent, auction costs and several completed sales are supplied, but the sales are not confirmed flat-specific, no external rental comparables or condition evidence are provided, and further auction charges are unknown.