Flat 408 The Printworks, Hodgson Street, Sheffield, South Yorkshire, S3 7WQ

Description

A Fourth Floor Studio Flat Subject to a Periodic Tenancy Producing £9,108 Per Annum (Reflecting a Gross Initial Yield of 45.54%). 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 HM Land Registry comparables are completed sales in the same Print Works development, ranging from £116,995 to £129,995, but they date from October 2016 to March 2017 and do not confirm identical floor, size, condition or tenancy status. A low/base/high GDV range of £116,995/£125,661.67/£129,995 is therefore an indicative evidence-based range only. The property is currently stated to produce £9,108 per annum, equivalent to £759 per calendar month, although no external rental comparable or tenancy documentation has been supplied.

Investment Snapshot

Strategy Recommendation

Consider as an income-led purchase only if the periodic tenancy, £9,108 rent, service-charge position, legal pack and leasehold obligations are verified. Do not rely on the apparent refinance or resale margin without updated valuation and full costs.

Works Required

No refurbishment works are evidenced in the supplied information. Allowance should be made for inspection and legal-pack review, but no unsupported works budget has been added.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

On the base GDV estimate, 75% refinancing would be approximately £94,246.25. Against the £31,800 analysis cost, this produces an indicative negative cash-left-in figure of £62,446.25 under the requested formula, before finance costs, tax and any unquantified works or disbursements. Actual refinanceability is uncertain because lender valuation, leasehold costs, tenancy documentation and finance terms are not supplied.

Buy-to-Let Analysis

Using the midpoint of the £20,000-£40,000 guide range as the analysis purchase figure, the stated £9,108 annual rent represents a 30.36% gross yield before costs, or 28.64% against the £31,800 purchase plus the £1,800 admin charge. This is a gross calculation only: service charge, ground rent, management, maintenance, voids, financing, tax and any legal-pack disbursements are not supplied. The tenancy is periodic and passing-rent documentation has not been provided.

Flip Analysis

The evidence indicates a base GDV of approximately £125,661.67 against an analysis purchase price of £30,000 and £1,800 admin charge, with no refurbishment allowance added because none is evidenced. A formal flip surplus cannot be calculated because selling costs, finance costs, tax, legal-pack disbursements and any required works are unsupported. The comparable sales are also materially dated.

Investor Risks & Due Diligence

• The completed-sale comparables are from 2016-2017 and may not reflect current value.

• No sufficiently specific external rental comparable or tenancy documentation has been supplied.

• Periodic-tenancy status may affect possession, underwriting and refinancing.

• Service charge, ground rent, insurance and other leasehold costs are not provided.

• Additional legal-pack disbursements may become payable on completion.

• No condition assessment or refurbishment budget is available.

• The stated gross rent and yields exclude operating costs, finance, tax, voids and management.

Recommendation

Consider as an income-led purchase only if the periodic tenancy, £9,108 rent, service-charge position, legal pack and leasehold obligations are verified. Do not rely on the apparent refinance or resale margin without updated valuation and full costs.

Strategy Rating

Analysis Confidence

The analysis has a stated rent, lease term, tenancy status, admin charge and same-development completed sales, but the comparables are old, no external rental evidence or tenancy documents are supplied, and service charges, ground rent, EPC, legal disbursements, condition and finance costs are unknown.