Flat 7, Palmer Colby House, 154-158 Dudley Road, Grantham, Lincolnshire

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 found in Lincoln City Centre lying to the north. Public transport links are available at Grantham Train Station located to the west, along with a network of local bus services serving the surrounding areas. The property is served by road links including the A607 lying to the north and the A52 located to the south. Recreational pursuits can be found at Dysart Park lying to the south.

Tenure / Property Information

Investment Analysis

The strongest evidence is the £84,950 completed sale at Palmer Colby House in November 2021. Four older sales in the same development were £90,000–£95,000, but they date from 2006–2007 and may not reflect current value or this exact flat. A base GDV of £84,950 is therefore used as an indicative same-development benchmark, with limited confidence.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the leasehold charges, special conditions, condition and achievable rent. On the supplied evidence, treat this as a potential low-cost purchase rather than an underwritten BTL, BRRR or flip.

Works Required

No specific defects or refurbishment requirements are evidenced. Confirm condition, heating, kitchen, bathroom, statutory compliance and leasehold information before bidding; no works allowance can be supported from the supplied evidence.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £84,950 base GDV, a 75% refinance would be approximately £63,712.50. The project-level cash requirement and cash left in cannot be calculated because refurbishment costs, service charge, ground rent and any seller fees are unknown.

Buy-to-Let Analysis

BTL viability cannot be established because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. Service charge and ground rent are also unknown, so net yield cannot be calculated.

Flip Analysis

The £84,950 base GDV is supported by a same-development completed sale from 2021, but there is no exact-unit confirmation, works budget or supported selling-cost allowance. A reliable flip surplus and maximum bid therefore cannot be calculated.

Investor Risks & Due Diligence

• Annual service charge and ground rent are unconfirmed.

• The seller may charge additional completion fees under the special conditions.

• No sufficiently specific rental evidence or auctioneer rent estimate is available.

• Property condition and heating details are not supplied, preventing a refurbishment budget.

• The comparable sales are not confirmed to be the exact flat and most are substantially older.

• Leasehold documentation and related charges require verification despite the long stated lease term.

Recommendation

Proceed only after confirming the leasehold charges, special conditions, condition and achievable rent. On the supplied evidence, treat this as a potential low-cost purchase rather than an underwritten BTL, BRRR or flip.

Strategy Rating

Analysis Confidence

There is useful same-development sold-price evidence and clear basic property information, but rent, condition, refurbishment cost, service charge, ground rent, heating and possible seller fees are unavailable.