Flat 6, 4-6 Central Drive, Morecambe, Lancashire, LA4 5JU

Description

A Two Bedroom Flat. A leasehold flat comprising: hallway, open plan dining room/kitchen, two bedrooms and a bathroom. Situated in the heart of Morecambe, making it incredibly convenient for residents. The proximity to the rail station offers excellent transport links to Lancaster, a national station, facilitating effortless commuting or exploring the beautiful surroundings.

Accommodation

Hallway, open plan dining room/kitchen, two bedrooms and a bathroom. Measurements: Lounge - 3.6m x 5.41m; Bedroom 1 - 4.09m x 4.15m; Bedroom 2 - 2.47m x 3.86m; Bathroom - 2.2m x 3.65m.

Location

Situated in the heart of Morecambe. The proximity to the rail station offers transport links to Lancaster.

Tenure / Property Information

Investment Analysis

The only sold evidence is for flats at the same address between October 2006 and October 2008, ranging from £45,000 to £77,500. These historic transactions are not sufficient to establish a current GDV in October 2026. No current comparable sales, rental evidence or auctioneer rent estimate has been supplied.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. First verify current comparable values, condition, lease covenants, service charge, ground rent, saleability and achievable rent; proceed only if the resulting margin supports the total acquisition cost.

Works Required

No specific defects or refurbishment requirements are evidenced. Obtain a viewing, lease review and survey before budgeting for works; only routine preparation can be considered after inspection.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

BRRR cannot be underwritten because current GDV, rent and refurbishment costs are unsupported. The stated 75% refinance calculation cannot be completed without a defensible current GDV. Lease terms, service charge, ground rent and lender acceptability also require verification.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental comparable or auctioneer rent estimate has been supplied. At the £46,000 guide, the known buyer premium of £1,500 and the £3,600 minimum admin charge bring the purchase plus those known charges to £51,100, before any other fees, finance, service charge, ground rent, tax or works.

Flip Analysis

A flip surplus cannot be calculated. The historic same-address sales range of £45,000 to £77,500 is dated 2006–2008 and cannot reliably represent a 2026 resale value. Selling costs, refurbishment costs and current market evidence are also absent.

Investor Risks & Due Diligence

• Current GDV cannot be established from the supplied historic 2006–2008 sales alone.

• No sufficiently specific rental evidence or passing rent is available.

• Condition and refurbishment requirements are unknown.

• Leasehold service charge, ground rent, restrictions and other lease terms are not supplied.

• Additional auction, legal, search, transfer, finance, tax and selling costs may apply.

• EPC rating E may affect lender, tenant and resale considerations.

Recommendation

Do not bid on the supplied evidence alone. First verify current comparable values, condition, lease covenants, service charge, ground rent, saleability and achievable rent; proceed only if the resulting margin supports the total acquisition cost.

Strategy Rating

Analysis Confidence

Property identity, tenure, lease length, guide and auction charges are supplied, but current valuation, rental evidence, condition, refurbishment cost, service charge, ground rent and other purchase costs are unavailable.