Flat 7, Palmer Colby House 154-158, Dudley Road, GRANTHAM, Lincolnshire, NG31 9AY

Description

Long leasehold split level flat.

Accommodation

First floor: One bedroom, bathroom/wc. Ground floor: Reception room, kitchen. Outside: Allocated parking.

Location

The property is located on Dudley Road. Shopping amenities are available within Grantham Town Centre, with a further range of shops, bars and restaurants in Lincoln City Centre to the north. Public transport links are available at Grantham Train Station to the west, along with local bus services. Road links include the A607 to the north and the A52 to the south. Dysart Park is to the south.

Tenure / Property Information

Investment Analysis

Same-building completed sales range from £84,950 in November 2021 to £95,000 in 2007. The latest supplied sale provides the strongest evidence, while the older sales indicate a wider historical range. A base GDV of £90,000 is used as an estimate, with £84,950 low and £95,000 high. These are not flat-specific sales and no adjustment is possible for condition, floor position or specification.

Investment Snapshot

Strategy Recommendation

Potential resale or owner-occupier purchase subject to legal-pack review, inspection and confirmation of service charge, ground rent, seller fees and vacant or occupational status. Do not rely on BTL without verified rent.

Works Required

No condition defects or refurbishment requirements are evidenced. Allow for inspection and any necessary works only after reviewing the legal pack and obtaining access, as no supported works budget can be established.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £90,000 base GDV, a 75% refinance is estimated at £67,500. Against the £56,800 purchase plus known documentation cost, this indicates £10,700 cash potentially left in before finance costs, tax, service charges, seller fees and any works. Actual refinanceability is unconfirmed.

Buy-to-Let Analysis

BTL cannot be assessed reliably because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The £1,800 inclusive VAT contract documentation fee is included in the base total cost; ground rent, service charge and any seller fees remain unknown.

Flip Analysis

At the £55,000 guide, the indicative gross spread to the £90,000 base GDV is £33,200 after the known £1,800 documentation fee and before selling costs, finance, tax, unknown seller fees and any works. No supported selling allowance is available, so net flip surplus cannot be calculated.

Investor Risks & Due Diligence

• Comparables are for the building rather than confirmed sales of Flat 7.

• Occupancy status is not supplied.

• Annual service charge and ground rent are unknown.

• Seller fees may be payable but are not quantified.

• No rental evidence is available to establish BTL yield.

• Condition, heating details and any required works are unknown.

• The estimated refinance figure is not a formal lending valuation and excludes finance, tax and other acquisition costs.

Recommendation

Potential resale or owner-occupier purchase subject to legal-pack review, inspection and confirmation of service charge, ground rent, seller fees and vacant or occupational status. Do not rely on BTL without verified rent.

Strategy Rating

Analysis Confidence

There are several same-building completed sales and a clear guide price, but the comparables are not confirmed as the same flat, rental evidence is absent, and condition, occupancy, service charges, ground rent and seller fees are unknown.