Flat 3, 247 North Road West, Plymouth, Devon

Description

A vacant one-bedroom flat close to Plymouth city centre and train station. The flat requires renovation throughout and is located on the first floor of a converted property. Accommodation briefly comprises hall, living room/kitchen diner, bathroom and bedroom.

Accommodation

First floor flat. Open Plan Living Room/Kitchen: 4.00m x 3.90m; Shower Room: 1.31m x 2.16m; Bedroom: 3.45m x 2.54m.

Location

Close to Plymouth city centre and train station.

Tenure / Property Information

Investment Analysis

The supplied completed sales on North Road West range from £80,000 to £125,000, with the most recent sale at £80,000 on 17 February 2026. The comparables are not confirmed as identical in size, condition, lease terms or specification. Given this flat requires renovation throughout, an indicative evidence-based GDV range is £80,000–£118,000, with £100,000 used as a broad base case. This is not a formal valuation.

Investment Snapshot

Strategy Recommendation

Proceed only after obtaining a full condition-based refurbishment quote, confirming lease and management details, and checking all Special Conditions charges. On current evidence, do not rely on BTL or BRRR returns; the opportunity is potentially value-led but cannot support a firm bid.

Works Required

Renovation throughout as stated in the description. The evidence does not specify the required elements, extent of defects, fixtures, services or costs, so no detailed works budget can be reliably established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

At the £100,000 base GDV, 75% refinancing would indicate £75,000 before lending costs and subject to lender valuation and eligibility. Total project cost cannot be calculated because refurbishment costs and potentially applicable additional auction charges are unknown, so cash left in and viability remain unconfirmed.

Buy-to-Let Analysis

BTL cannot be properly assessed because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Gross rent and yield therefore cannot be established. The flat is vacant and leasehold, with lease length stated as 125 years from 1 February 2008.

Flip Analysis

A flip appraisal cannot be completed reliably. The guide price plus the stated £1,500 buyer premium and £1,200 administration charge totals £43,200 before refurbishment, legal, search, transfer, finance and selling costs. Refurbishment and selling allowances are not supplied, so no supported surplus can be calculated.

Investor Risks & Due Diligence

• The flat requires renovation throughout, but no inspection-based scope or refurbishment cost is supplied.

• The comparable sales are not confirmed as directly comparable in condition, size, lease terms or specification.

• No reliable rental evidence is available, preventing a supported BTL yield assessment.

• Leasehold costs and terms beyond the stated lease commencement are not supplied, including service charge and ground rent.

• Additional auction charges may apply under the Special Conditions of Sale.

• The £100,000 base GDV is an indicative estimate rather than a formal valuation.

Recommendation

Proceed only after obtaining a full condition-based refurbishment quote, confirming lease and management details, and checking all Special Conditions charges. On current evidence, do not rely on BTL or BRRR returns; the opportunity is potentially value-led but cannot support a firm bid.

Strategy Rating

Analysis Confidence

Recent and historic completed sales provide some local value evidence, but condition, comparability, rent, refurbishment costs, service charges, ground rent, council tax, parking, heating and full purchase costs are missing.