Flat 2, 32 Bispham Road, Thornton-Cleveleys, Lancashire

Description

Vacant Ground Floor One Bedroom Flat. The property comprises of kitchen, lounge, bedroom and bathroom. The flat is a short walk from shops, café’s and transport links. This would make and ideal BTL investment.

Accommodation

Kitchen, lounge, bedroom and bathroom.

Location

A short walk from shops, cafés and transport links.

Tenure / Property Information

Investment Analysis

Completed sales at 32 Bispham Road range from £52,000 to £58,000, while 26A sold for £68,000. A cautious evidence-based GDV range is £48,000–£68,000, with £58,000 as the base case using the latest sale at the same address. The subject flat and comparable units are not confirmed identical.

Investment Snapshot

Strategy Recommendation

Proceed only after reviewing the legal pack, lease, service charge and EPC-related requirements. Treat as a potential low-cost BTL, not an underwritten BRRR or flip.

Works Required

No specific defects or works are evidenced. Obtain a survey and legal pack, investigate the EPC G rating, and identify any required improvement works before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At a £58,000 base GDV, 75% refinance is £43,500. Total project cost and cash left in cannot be calculated because refurbishment costs, service charge and potential disbursements are unknown. The EPC G rating requires investigation before relying on a refinance strategy.

Buy-to-Let Analysis

The only rental evidence is a £750 pcm advertised asking rent, equivalent to £9,000 annually. This produces a 45.0% gross yield against the £20,000 lower guide, before works, service charge, auction costs, maintenance, voids and finance. Net yield cannot be established because service charge and condition costs are unknown.

Flip Analysis

The evidence supports a base GDV of £58,000, but refurbishment costs, selling costs and the subject flat's precise condition are unavailable. A reliable flip surplus and maximum bid cannot therefore be calculated.

Investor Risks & Due Diligence

• EPC rating G may require improvement works, but costs are unknown.

• Service charge amount is not stated.

• The £750 pcm figure is an advertised asking rent, not achieved rent.

• Special-condition fees, disbursements and seller costs may be payable.

• Comparable sales do not conclusively confirm the exact subject flat.

Recommendation

Proceed only after reviewing the legal pack, lease, service charge and EPC-related requirements. Treat as a potential low-cost BTL, not an underwritten BRRR or flip.

Strategy Rating

Analysis Confidence

There are useful sold comparables and one advertised rent, but the subject unit is not directly matched to every comparable and condition, works, service charge and disbursements are unavailable.