Lychgate Cottage, 189 Town Lane, Denton, Greater Manchester

Description

A substantial period home dating from circa 1800 offering a rare combination of generous living space, a 64m2 (689 sqft) garage/workshop and secure parking for approx. six vehicles. The property is suitable for family living, and highly adaptable for home working, business use, storage or workshop use with further potential for alteration and conversion, subject to the relevant planning permission and consents.

Accommodation

Large 26ft living room, kitchen/diner, second reception room/bedroom, three further bedrooms, family bathroom, ground floor shower room/WC and large loft space.

Location

Situated on Town Lane, close to Hyde Hall Farm and Reddish Vale Country Park, with local amenities and Crown Point North. Convenient access to the M60 and wider Greater Manchester.

Tenure / Property Information

Investment Analysis

The only recent supplied comparable is 153 Town Lane at £210,000 in May 2023, materially below the £460,000 guide. The subject is described as substantially larger and includes a 64m2 garage/workshop, secure parking and adaptable space, but the evidence does not establish a reliable premium or current market value. No supported GDV should therefore be assumed. The guide is also stated to exclude fees, with a 2.75% administration charge and potentially other buyer costs.

Investment Snapshot

Strategy Recommendation

Do not bid on the supplied evidence alone. Obtain an independent valuation, full legal pack review, building survey and planning advice for the garage/workshop, loft and any proposed conversion before considering owner-occupation or investment use.

Works Required

No specific defects or required refurbishment are evidenced. Any works should be limited to inspection-led maintenance or alterations/conversion of the adaptable accommodation, garage/workshop or loft only where supported by surveys and any required planning or other consents.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment cannot be supported because no reliable GDV, refurbishment budget, finance terms or subject-specific achieved rent are provided. The recent supplied local comparable is substantially below the guide, so refinancing at 75% of GDV cannot be calculated reliably.

Buy-to-Let Analysis

The supplied advertised asking rents of £895–£995 pcm imply annual rent of £10,740–£11,940. At the £460,000 guide, this indicates approximately 2.33%–2.60% gross yield before the 2.75% administration charge, any buyer premium, other acquisition costs, finance, maintenance, insurance, voids and management. The rental evidence is from Cheetham Hill and Middleton rather than the subject location, so it is indicative only.

Flip Analysis

A flip calculation cannot be established. No supported current GDV, refurbishment allowance, selling costs or buyer premium is provided. The £210,000 May 2023 comparable on the same road is materially below the £460,000 guide, creating a significant evidence gap that requires an independent valuation and detailed inspection before bidding.

Investor Risks & Due Diligence

• The £460,000 guide is materially above the only recent supplied comparable of £210,000 on the same road.

• Buyer premium, disbursements and other possible acquisition charges are unspecified.

• No condition or refurbishment cost evidence is supplied.

• Potential alteration or conversion of the garage/workshop, loft or other space is subject to relevant planning permission and consents.

• Rental evidence is advertised asking rent from different Greater Manchester locations, not achieved rent for the subject property.

• Low indicative gross yield at the guide before operating, finance and transaction costs.

Recommendation

Do not bid on the supplied evidence alone. Obtain an independent valuation, full legal pack review, building survey and planning advice for the garage/workshop, loft and any proposed conversion before considering owner-occupation or investment use.

Strategy Rating

Analysis Confidence

The property description, tenure, occupancy, guide and one recent local comparable are supplied, but there is no reliable subject-specific valuation, condition report, refurbishment budget, achieved rental evidence, buyer premium amount or resale-cost allowance.