Flat 407 The Printworks, Hodgson Street, Sheffield, South Yorkshire, S3 7WQ

Description

A Fourth Floor Studio Flat Subject to a Periodic Tenancy Producing £8,844 Per Annum (Reflecting a Gross Initial Yield of 44.2%). The property comprises a fourth floor studio flat situated within a purpose built block arranged over ground and five upper floors. The property benefits from a communal gym and laundry room.

Accommodation

Fourth Floor: Studio Room; Bathroom.

Location

The property is situated on a residential road close to local shops and amenities. The open spaces of The University of Sheffield and Sheffield Hallam University are within easy reach. Transport links are provided by West Street tram stop, Meadowhall rail station and the M1.

Tenure / Property Information

Investment Analysis

The three supplied completed sales are within Print Works Apartments and range from £116,995 to £129,995, but all occurred in 2016–2017. Their simple average is approximately £125,662 and is used as the base GDV estimate. This is indicative only because no recent completed sales, service-charge information or unit-specific comparability evidence is supplied.

Investment Snapshot

Strategy Recommendation

Consider only as a tightly underwritten income purchase at a disciplined price, subject to verifying the periodic tenancy, rent, lease, service charges and legal-pack disbursements. Do not rely on the dated GDV evidence for a refinance or flip without current valuation evidence.

Works Required

No refurbishment works are evidenced. Confirm condition, lease obligations, communal charges and any compliance requirements through inspection and the legal pack before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the dated comparable-sales evidence, estimated GDV is £125,662 with a supported evidence range of £116,995–£129,995. A 75% refinance against base GDV would be approximately £94,247. The refinance case cannot establish cash left in because refurbishment costs, service charges, finance costs and the full acquisition cost are not supplied.

Buy-to-Let Analysis

The stated rent is £8,844 per annum, or £737 pcm, and is subject to a periodic tenancy. At the £20,000 lower guide, this equates to the stated 44.2% gross yield before costs; at the £40,000 upper guide it would be 22.1%. Rental listings provide a £650–£953 pcm asking range, not achieved rents. Service charges, ground rent, management, maintenance, voids, finance and any legal-pack disbursements are not supplied, so net yield and total-cost yield cannot be established.

Flip Analysis

The supplied sales suggest a substantial gross value differential against the guide, but they are nearly a decade old. A reliable flip surplus cannot be calculated because refurbishment costs, selling costs, finance costs and current market evidence are unavailable.

Investor Risks & Due Diligence

• Periodic tenancy status and actual rent must be verified.

• All completed sales supplied are from 2016–2017, so current GDV is uncertain.

• Service charge, ground rent, management, maintenance and communal-facility costs are not supplied.

• Legal-pack disbursements may be payable but are unspecified.

• The £650–£953 pcm rental evidence is advertised asking rent and may not represent achieved rent.

• EPC, council tax, parking and heating information are not supplied.

Recommendation

Consider only as a tightly underwritten income purchase at a disciplined price, subject to verifying the periodic tenancy, rent, lease, service charges and legal-pack disbursements. Do not rely on the dated GDV evidence for a refinance or flip without current valuation evidence.

Strategy Rating

Analysis Confidence

The property has a stated rent, tenancy, lease term, admin charge and same-building completed sales, but the sales are dated, refurbishment and service-charge costs are absent, and rental listings are asking rents rather than achieved rents.