Flat 5, Kilmidyke Mansion, Grange-over-Sands, Cumbria LA11 7AH

Description

Three-bedroom apartment in Kilmidyke Mansion, Grange-over-Sands. Large gallery and virtual-tour material are provided; lease, service charge and ground rent must be checked before bidding.

Location

Flat 5, Kilmidyke Mansion, Grange-over-Sands, Cumbria LA11 7AH. The full postcode LA11 7AH is used for mapping. Local investment evidence is drawn from the Grange market rather than a generic Cumbria average.

Investment Analysis

Investment Snapshot

Works Required

• Targeted kitchen/bathroom and services upgrades where required

• Decoration, flooring and joinery

• External/roof/damp repairs identified by survey

• Contingency for latent defects

HB working allowance: £10,000–£20,000. This is an appraisal allowance based on the auctioneer's condition description and property type, not a contractor quotation.

Rental & Market Context

HB's working market-rent range is £1,000–£1,250 pcm (£12,000–£15,000 p.a.). This reflects current/recent rental evidence for the Grange market and is adjusted for the subject property's size, condition and strategy. At the guide, the gross yield range is approximately 10.0%–12.5%; on the full purchase-and-works range it is approximately 7.7%–11.5%. Actual rent should be checked against a current local letting appraisal before exchange.

Sold within 5m radius

• 11 Berners Close, Grange-over-Sands – 2-bed flat – sold 21 Apr 2026 – £205,000

• Flat 1 Greystones, Grange-over-Sands – 2-bed flat – sold 16 Jan 2026 – £295,000

• 13 Charney Court, Grange-over-Sands – 2-bed semi – sold 6 May 2026 – £254,000

These are local-market comparables rather than guaranteed like-for-like matches. Allowing for condition, size and micro-location, HB uses an indicative end-value range of £200,000–£260,000 for this lot where a GDV is applicable.

GDV Assessment

HB indicative GDV/end value is £200,000–£260,000. This range is informed by the auctioneer's property facts, the current condition and the verified Grange sold-market evidence above. It is an investment appraisal, not a RICS valuation; the lower end should be used for bid sensitivity.

Strategy Recommendation

Preferred strategy: Buy-to-Let / Holiday Let. The working acquisition range is £120,000–£135,000. The main reason is the relationship between the guide, required works and the achievable exit/income evidence. Risk is rated high because of the property-specific condition, tenure, planning or market factors noted above.

Potential BRRR Position

Using the mid-point purchase assumption of £127,500 and mid-point works of £15,000, the property stands at about £142,500 before SDLT, auction fees and finance. A 75% refinance against the £200,000–£260,000 GDV range gives approximately £150,000–£195,000. At the mid-point this leaves about £0 of purchase-and-works capital in the deal before transaction costs. HB BRRR assessment: Strong.

Flip Analysis

Working scenario: purchase £127,500, works £15,000, plus approximately £14,800 as an illustrative allowance for acquisition, finance/holding and selling costs. Total working cost is therefore about £157,300 against a mid-point GDV of £230,000, producing an indicative pre-tax margin of about £72,700 (31.6% of GDV). This is viable on the current assumptions and is highly sensitive to sale price and refurbishment overspend.

Investor Risks & Due Diligence

• Read the full legal pack, title and special conditions before bidding

• Confirm auction administration/buyer's fees and completion period

• Verify the scope and cost of works with a survey and contractor pricing

• Check planning/building-regulation status, access and services where relevant

• Confirm finance and insurance acceptability for the specific property type

• Re-check current rental and sold evidence immediately before setting a maximum bid

Maximum Bid Analysis

HB bidding sensitivity: guide £120,000+. The deal is strongest around £120,000–£125,000; above approximately £125,000 the margin/capital-recycling position begins to weaken on the conservative £200,000 GDV assumption. This is an investment-based bid indicator, not a valuation or bidding instruction.

Recommendation

Overall HB view: Buy-to-Let / Holiday Let. At the working purchase range of £120,000–£135,000, the opportunity can be attractive if the property-specific risks are resolved and the works remain within £10,000–£20,000. Confidence is medium; the principal sensitivity is end value and refurbishment cost.

Strategy Rating

Buy-to-Let: ★★★★☆ | BRRR: ★★★★☆ | Flip: ★★★☆☆

Research Sources

https://www.auctionhouse.co.uk/cumbria/auction/lot/151063 | https://www.rightmove.co.uk/house-prices/grange-over-sands.html