Flat 2, 21 Peel Street, Hull, East Riding of Yorkshire

Description

A spacious one-bedroom duplex flat accessed from a shared ground-floor entrance. The first floor comprises living room, kitchen and bathroom, while the second floor provides a generously sized master bedroom. Conveniently located just 1 mile from Hull city centre, the property presents an ideal opportunity for owner-occupiers as well as investors following some refurbishment works.

Accommodation

Shared ground-floor entrance; first-floor living room, kitchen and bathroom; second-floor master bedroom.

Location

Located just 1 mile from Hull city centre.

Tenure / Property Information

Investment Analysis

The supplied sold evidence does not support a reliable current GDV: two transactions are for a different property type/address description, while the only flat/maisonette sale is from 1998. The £18,000 guide is not a valuation. At the guide, the buyer premium would be £1,860 including VAT, before any additional special-condition fees and refurbishment costs.

Investment Snapshot

Strategy Recommendation

Do not bid on the current evidence alone. Review the legal pack, inspect the duplex, obtain a refurbishment quotation and independently establish local rent and resale evidence before setting a maximum bid.

Works Required

The description indicates that refurbishment works are required, but no defects, specification or scope are supplied. Obtain the legal pack and a detailed inspection before pricing works.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported without a reliable post-refurbishment GDV, refurbishment budget or rent evidence. The new 990-year lease with peppercorn ground rent is potentially helpful, but the legal terms remain subject to the legal pack.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate is provided. Refurbishment cost, total acquisition cost and possible additional fees are also unknown.

Flip Analysis

A flip surplus cannot be calculated. The available comparable evidence is too dated or insufficiently specific, and neither refurbishment costs nor a supported resale GDV is available. Buyer premium and possible special-condition fees would further increase project cost.

Investor Risks & Due Diligence

• No reliable current valuation evidence for this specific one-bedroom duplex.

• Refurbishment works are mentioned but their scope and cost are unknown.

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

• The new lease and any restrictions or liabilities require review of the legal pack.

• Additional fees may be payable under the Special Conditions of Sale.

• The guide price may not reflect the eventual auction purchase price.

Recommendation

Do not bid on the current evidence alone. Review the legal pack, inspect the duplex, obtain a refurbishment quotation and independently establish local rent and resale evidence before setting a maximum bid.

Strategy Rating

Analysis Confidence

The property description and tenure are supplied, but there is no current specific GDV evidence, rental evidence, refurbishment scope or complete fee schedule.