No. 6 Flat 1 Heritage Hall Lodge, Sheffield, South Yorkshire, S6 3FG

Description

Auction House South Yorkshire presents this flat situated within an attractive detached building. The property is currently vacant but was previously let on an assured shorthold tenancy agreement for £346.67 per week, including electric and water. It is situated within easy reach of Crookes Valley Park, Universities and Hospital. Viewings by request.

Accommodation

Ground floor communal entrance. Flat one is on the ground floor and comprises a communal passaged hallway, shared open plan living kitchen area with built-in appliances, and double bedroom with en-suite shower room.

Location

Strong letting location situated within easy reach of Crookes Valley Park, Universities and Hospital.

Tenure / Property Information

Investment Analysis

Two completed leasehold flat sales at Heritage Hall Lodge are evidenced at £50,000 in February 2018 and £56,000 in December 2015. These are historic and do not confirm the value of Flat 1, so an indicative scenario range of £50,000–£56,000 is used, with a midpoint base GDV of £53,000. No current market valuation, service-charge information, lease details or specific condition evidence is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only after confirming the lease, service charges, ground rent, utilities responsibility, condition and current rental demand. The low guide could support an income-led or BRRR assessment, but the available evidence is insufficient to set a prudent maximum bid.

Works Required

No specific refurbishment defects or required works are evidenced. Allowance should be made for inspection, cleaning and any repairs only after viewing, but no supported works budget can be quantified.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the £10,000 midpoint of the £5,000–£15,000 guide and no evidenced works allowance, base known cost is £13,600 including the £3,600 admin charge. A 75% refinance against the £53,000 base GDV would be £39,750, implying £26,150 more than the stated base cost before finance, tax, legal, valuation and other costs. Actual refinanceability cannot be established without lease, lender and property-condition information.

Buy-to-Let Analysis

The prior AST rent was £346.67 per week including electric and water, equivalent to £1,502.24 pcm and £18,026.84 annually. This is historic passing-rent evidence rather than a current achieved rent, and no external rental comparable or service-charge information is supplied. Using the guide midpoint of £10,000 and the known £3,600 admin charge produces a high indicative gross yield, but the result is highly sensitive to utilities, leasehold costs, vacancy and the actual purchase price.

Flip Analysis

The historic same-building sales indicate a £50,000–£56,000 value range, with a £53,000 midpoint scenario. A reliable flip surplus cannot be calculated because selling costs, finance costs, legal costs, leasehold charges and refurbishment costs are not supported. The comparable evidence is also dated 2015–2018.

Investor Risks & Due Diligence

• Historic comparable sales may not reflect current value.

• The stated rent is from a previous AST and includes electric and water; it is not a current achieved rent.

• Lease length, ground rent and service-charge obligations are not supplied.

• Property condition and any required refurbishment works are not evidenced.

• Buyer premium and other possible auction disbursements are unspecified.

• Vacancy creates reletting and income-continuity risk.

Recommendation

Proceed only after confirming the lease, service charges, ground rent, utilities responsibility, condition and current rental demand. The low guide could support an income-led or BRRR assessment, but the available evidence is insufficient to set a prudent maximum bid.

Strategy Rating

Analysis Confidence

There are two completed same-building sales and historic prior-rent evidence, but the comparables are dated, the rent is not current, and lease, condition, service-charge, utilities and other transaction-cost information is missing.