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

Description

Flat situated within an attractive detached building. It is currently vacant but was previously let on an assured shorthold tenancy agreement for £346.67 per week, including electric and water.

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 a double bedroom with en-suite shower room.

Location

Situated in a strong letting location within easy reach of Crookes Valley Park, the Universities and the Hospital.

Tenure / Property Information

Investment Analysis

The only supplied completed sales are two same-building leasehold flat transactions at £50,000 in 2018 and £56,000 in 2015. A midpoint of £53,000 is used as an indicative base GDV, with £50,000–£56,000 as an evidence-supported range. These comparables are dated and no current market evidence, lease terms, service charge or condition assessment is supplied.

Investment Snapshot

Strategy Recommendation

Proceed only with full legal, lease and physical due diligence. The historic rent and low guide may support further investigation, but bidding should be capped only after confirming the current letting potential, utilities liability, lease terms, service charges and all auction costs.

Works Required

No refurbishment defects or required works are evidenced. Verify condition, built-in appliances, communal areas, lease terms and any landlord or service-charge obligations before bidding.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative £53,000 base GDV, a 75% refinance figure is £39,750. The BRRR outcome cannot be quantified because refurbishment costs, lease-related costs, service charges, current rent and total acquisition costs are not supplied. The £3,600 administration charge is known, with further possible charges stated but unquantified.

Buy-to-Let Analysis

The previous AST rent was £346.67 per week including electric and water, equivalent to approximately £18,026.84 annually. This is historical rent rather than a current achieved or advertised rent, and no specific external rental comparables were identified. A current BTL yield cannot therefore be established reliably. At the £20,000 upper guide alone, the historic rent implies 90.13% gross yield before utilities, finance, service charges, tax, insurance and other costs; this should not be treated as a current forecast.

Flip Analysis

The indicative base GDV is £53,000, based only on dated same-building sales. A flip surplus cannot be calculated because works, full acquisition costs and selling costs are unsupported. The £3,600 administration charge alone would apply in addition to the purchase price, with other possible charges also noted.

Investor Risks & Due Diligence

• The lease details and remaining term are not supplied.

• The previous rent is historical and included electric and water; it may not represent current achievable rent or net income.

• No current external rental comparables were identified.

• The two available sales are dated 2015 and 2018.

• Refurbishment and condition costs are unknown.

• A £3,600 administration charge is payable, with additional possible search, seller, legal and transfer charges unquantified.

• Council Tax is Band D and the EPC is D.

• The property is vacant, so there is no confirmed current passing rent.

Recommendation

Proceed only with full legal, lease and physical due diligence. The historic rent and low guide may support further investigation, but bidding should be capped only after confirming the current letting potential, utilities liability, lease terms, service charges and all auction costs.

Strategy Rating

Analysis Confidence

Same-building completed sales and a historical tenancy rent are available, but the sales are dated and there is no current rental evidence, lease detail, condition report, refurbishment budget, service-charge information or complete fee schedule.