No. 9 Blandford Street, Ferryhill, County Durham, DL17 8ND

Description

Offering generous accommodation arranged over three floors, this four bedroom end terrace property presents an excellent opportunity for a buyer looking for a project with scope for improvement and modernisation. The property is in need of refurbishment and modernisation throughout, but offers a good amount of accommodation and provides buyers with the opportunity to update and improve the property to add value. Extending to approximately 126.7 sq m (1,363 sq ft), the property offers substantial accommodation across three floors and could appeal to owner-occupiers, investors and buyers seeking a project with potential.

Accommodation

Ground floor: entrance hallway, spacious lounge, separate dining room and kitchen. First floor: three bedrooms and a family bathroom. Second floor: generous fourth bedroom. Externally, there is a separate garage providing useful additional storage or parking.

Location

Ferryhill, County Durham

Tenure / Property Information

Investment Analysis

The five same-street completed sales range from £39,000 to £64,950. The two most recent sales were £56,000 and £56,500, while the closest lower evidence was £44,500. The subject is a larger stated four-bedroom, three-storey home of approximately 1,363 sq ft, but it requires refurbishment and the comparables do not provide bedroom counts, sizes or condition. A precise formal GDV is therefore unsupported; the supplied evidence supports a broad indicative range only.

Investment Snapshot

Strategy Recommendation

Do not bid on yield or flip assumptions without inspecting the property, reviewing the legal pack and obtaining a refurbishment budget. Treat the guide as requiring substantial cost and valuation due diligence; proceed only if the all-in cost remains justified against verified local evidence.

Works Required

Refurbishment and modernisation throughout, as described by the auction particulars. The evidence does not specify individual defects, required systems work, finishes or statutory upgrades, so no detailed scope or cost allowance can be supported.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

Using the indicative base GDV of £56,000, a 75% refinance figure would be approximately £42,000. The purchase price is guided at £40,000, with a disclosed £3,600 administration charge, but refurbishment costs and other potential fees are unknown. Cash left in and refinance viability cannot be calculated reliably.

Buy-to-Let Analysis

No sufficiently specific rental comparable or auctioneer rent estimate is supplied. Rent, gross yield and cash flow cannot therefore be established. The refurbishment requirement and unknown total project cost further prevent a reliable BTL assessment.

Flip Analysis

The completed-sale evidence indicates a broad same-street value range of £44,500 to £64,950, with recent sales at £56,000 and £56,500. A flip appraisal cannot be completed because refurbishment costs, purchase-related costs beyond the £3,600 administration charge and selling costs are not supplied.

Investor Risks & Due Diligence

• Refurbishment is described as required throughout, but the scope and cost are unknown.

• No sufficiently specific rental evidence is available, so BTL returns cannot be established.

• The legal tenure is not confirmed in the supplied evidence.

• Additional auction, legal, search, transfer and seller-cost reimbursements may apply but are not quantified.

• Comparable sales do not include sufficient size, bedroom or condition information to establish a precise GDV.

• Separate garage rights, condition and legal status are not evidenced beyond the description.

Recommendation

Do not bid on yield or flip assumptions without inspecting the property, reviewing the legal pack and obtaining a refurbishment budget. Treat the guide as requiring substantial cost and valuation due diligence; proceed only if the all-in cost remains justified against verified local evidence.

Strategy Rating

Analysis Confidence

There are several completed same-street sales and a guide price, but the comparables lack size, bedroom and condition detail. No rental evidence, refurbishment cost, tenure confirmation or complete fee schedule is supplied.